 Do health insurance policies require you to sign a contract with them? |
| Can I just go a month with an insurance company and leave them? I ask this becasue I'm looking for an insurance company that would pay for my vasectomy.... |
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 What should he do (insurance question)? |
| My husband has had a mole on his back for as long as he remembers. It has always had no color and been raised. About 3 years ago he accidentally cut it while scratching his back and it has grown, ... |
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 How does one become an Independent Agent if the life insurance and annuity business? |
| Meaning, If you are first starting out in the insurance business(no history), how do you get the commission level of the independent agents? Do you just have to sell a certain amount of insurance or ... |
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 Anyone know an insurance company that pays you while out of work for atleast 3-31/2 months? |
| need an insurance agency that pays you for 3-31/2 months while out of work due to Doctors recommendation not to return to work for that duration............. (spfld MA.)... |
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 Are there insurance policies that protect a person from being sued? |
| I mean can you buy a policy that would defray the costs of litigation and/or a settlement if someone decided to sue you for any reason?... |
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 Full COVERAGE!!!? |
| i need help! real bad! first off i wanna say i got a 94 honda prelude by a auto loan of 2,500 dollars but the car cost 4,000. Now.... the banks policy like all other banks is to fully insure the ... |
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 Car insurance comp failed to pay 3rd party on time, now i have a satisfied ccj .is there anything i can do? |
it ws the insurance company's fault not mine.
Additional Details
it was my fault re accident, but i was covered for 3rd party insurance my insurance company should have paid out on ... |
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 Inheritance: How should they handle this situation? |
| My grandfather died in February 2008. My dad and his two sisters are equally listed in the will...everything is split in thirds between the siblings. My grandfather had an insurance policy (whole ... |
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 If i were to die in a wreck without a seatbelt, could my insurance company deny paying my family life insuranc |
| a friend of mine got killed in a car wreck and his spouse is worried that she won't get payment from his life insurance because he was'nt wearing his seatbelt. They have small children and ... |
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 Is a jewellry insurance valuation higher than a sale valuation? |
| I have diamond rings that I wish to sell. They have insurance valuation documents dated within the last 12 months. How do I price them accurately? Some are 25 years old!!... |
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| Car insurance? |
| got 12 months car ins due renewel in one month letter came thought door and it said ins cancelled 5 months ago but i did not cancel so really i been driving with no ins can i get full refund when i ... |
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 Which insurance company is the best and most importantly cheapest for general liability? |
I am starting a small residential and comercial cleaning business and will need dishonesty insurance.
Additional Details
I use progressive but they don't have business ... |
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 With life insurance what consists of accidental death? |
| I guess I don't know much. But what would life insurance determine as accidental death? Thanks. N... |
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Mark | What happens to people with insurance policies if their insurance company goes under? especially those? |
policies with a cash value like a split dollar policy? if you had one through met life, for example, and they went under, what would happen? |
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Chris C
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It depends where you live and what exactly happens to the company.
If the company gets sold to another company, chances are nothing will change in the policies other than possibly a different logo on the top of the statements. I worked for Clarica and it was bought out by Sun Life and absolutely nothing changed other than logo's and marketing materials. Even on the statements the policies where still refered to by their original Clarica names. Some products were discontinued or re-branded, but all in force policies remained unchanged. Same case when Sun Life bought out Met Life, Prudential and all the other companies it bought out...
If the company goes bankrupt or insolvent, it depends where you live. If yo live in Canada for example you would likely be covered through Assuris (All insurance companies in Canada are required by federal, provincial and territorial law to be a member of Assuris if they sell life insurance). Assuris more or less insures insurance policies. They are a non-profit organization that protects policy holders from losses when an insruance company becomes insolvent.
Not sure where you're from or if there is an organization like that where you are though. |
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Insurance Pickle.com
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It's a business and that business is worth money. Someone would buy it although you'll find that the policy charges are normally moved towards their maximum costs.
That's what happened with General American a couple years ago. They met an insolvency issue and Met Life came and purchased them. The best thing to do is look at the financials of the companies. MANY insurance company are advertising their exposure to sub-prime and alt-a mortgages and MANY smart financial companies have little to NO exposure to them. |
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hadley2120
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If the life insurance company became insolvent, the insurance guaranty fund in the state may be available for the policyholders.
The insurance guaranty fund is usually limited to $300,000 per policy.
One example of this situaiton is the AIG Insurance Company.
You can read about how that was handled online at the National Association of Insurance Commissioners web site.
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mbrcatz
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Permanent policies like life insurance or annuities, get transferered to another insurance company. Annual policies, like car insurance or house insurance, get nonrenewed. If you have a claim before your policy gets nonrenewed, each state has an "insolvency fund" to cover claims if the insurer goes broke.
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ed
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The first priority in bankruptcy is wages to employees.
Assets are cashed or sold and then dispersed to creditors etc.
I don't know where this would fall, but if no cash left, as Bugs Bunny used to say, Th th th th that's all folks.
This could be more prevalent regarding property insurance if we experience more devastating hurricanes and insurance companies fail. |
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poobah
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If you are a corporation, just ask the administration for some corporate welfare. If you are an individual, like me, you have to bite the bullet and take the hit. |
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