 How long does it take to recieve life insurance money? |
| Reason I ask is because the funeral was a little over a month ago and since I didn't have $5k then and they knew my father had life insurance they said they would wait 2 months before I would ... |
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However I was ready over the covrage book this weekend and found that they do cover it.
Can I get them to pay me back, or a part of what I paid, or i'm I out of luck?... |
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| It doesn't seem fair to pay higher insurance because our credit is bad! What do you think?... |
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 Life Insurance License? |
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| my g/f was in an accident last sept with an uninsured driver...the unisured dr. was 100 % responsible because they ran a stop sign.....well my g/f was going 50 mph which was the spd limit and totaled ... |
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| Not by 100 pounds or anything, but I just guessed at my weight. If I put 195 on the app, but weigh in at 210 or 215, could they cancel my coverage?... |
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| Will the person who was at fault insurance company pay it off and give me what it was worth. My credit situation is not the best so I need a sizable down payment to get another car. So I'm ... |
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 Insurance on SUVs? |
| How much is insurance on SUVs usually... like a Jeep Grand Cherokee Laredo or a Chevrolet.. anyone know?... |
|
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| I worked at a job who had a ppo insurance plan. October 30th I started a new job with a high deductable health savings plan. The plan has a 1,050 deductible, after that everything is paid for. My ... |
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 What is life insurance? |
| Life insurance is suppose to be used as a protection of income. In case you die, your family is protected from devastation of substantial income loss. But, many insurance companies are selling it as ... |
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 I got injured in a wreck...Help!? |
| I had an accident in May 8th of '08. A nigerian pulled out from a parking lot in a small car & hit me then fled the scene. He is a local pharmacist & ownes his own car lot. Police put it ... |
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ChiChi | Life Insurance in the millions.... |
Isn't it true that when you have a life insurance policy in the hundred thousands and even the millions the life insurance company sometimes doesn't have the money to pay you all up front. And they will give you the money in the form of annuity payments? Sometimes those annuity payments will spread over months and even years. Those insurance companies do not give those people the full amount of those hundred-thousand dollar policies. Or million dollar policies?...Am I right?
They only give people who have a $10K life insurance policy or something in that range all of their money as soon as the person is deceased!? |
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westsaeed
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Annuity is a OPTION, not a certainty. An insurance company should have plenty of reserves to pay face values if that's what the policy owner chooses.
However, if your loved one has a $2 million life insurance policy, and you are the beneficiary, and your loved one doesn't think you could responsibly manage a lump sum pay out, he/she can specify when they take out the policy that the death benefit be payed to you as an annuity, such as $100k per year (plus interest) for 20 years. |
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mbrcatz
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Nope, it's not true. Insurance companies have the money. And, your state insurance department has an insolvency fund, in the billions, to pay claims under the unlikely chance that your insurer goes insolvent.
An annuity is different from life insurance.
The life insurance pays out the person specified, exactly how the policy specified they were to be paid. But if the person is a minor, sometimes a TRUST is set up to make sure that their guardian doesn't, for example, blow it all in Las Vegas. |
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ARTmom
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We have genworth-which is owned by General Electric/GE so no-thats not true. My husbands policy is for 1 million and if something happened I would be paid within 1 month a full check. I think if you went for a small company, then maybe but its all individual |
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steve_miller_5
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Insurance companies are regulated at the state level, among other things to ensure they have adequate capital. That's not say that there aren't failures; there are. But they are fairly rare. Do keep in mind that insurance contracts are not protected by insurance the way bank deposits are.
Also, insurance companies are rated by private organizations such as Standard & Poors. That will give you a decent idea of their financial strength. One link is below. |
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car253
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The money is paid to the beneficiary the way the insured asked it to be paid out. So, if the insured asked for a one lump sum that is what the beneficiary would get.
Insurance companies do not insure that whole risk. Behind the scenes they pay other insurance companies to take part of the risk and they pay them a premium for that risk. So, they are usually not on the hook for the whole amount. The customer never knows the difference because the one insurance company takes care of the whole claim and pays out the whole amount. They will collect from the other companies later. It is called reinsurance. Some companies take on the whole risk and some don't. But customers never know the difference. So, if i confused you or put too much info to understand. |
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Jason M
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They almost always do annuities if you have large amounts |
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