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Can you borrow funds against money owed to you that is secured by a life insurance policy on the life of the person who owes you the money?
Wiki User
∙ 13y ago
Absolutely not, you can only make a legitimate loan through a bank
Wiki User
∙ 13y ago
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Who benefits from a life insurance policy?
The beneficiary benefits financially from the life insurance policy by receiving the proceeds of the policy. The beneficiary is the person(s) or entity who is designated by the insured person to receive the proceeds from the life insurance policy upon the death of the insured person. The insured person also benefits from knowing (peac eof mind) they have secured financial protection for the beneficiary in case the insured person dies.
If two people become joint tenants on a house deed that they inheirit can one borrow against the deed without the other's consent?
No, one can't sell or borrow against the property without the other person signing off on the loan. You can choose to sell the property and split the costs.
What happens if the damages in an accident exceed the insurance coverage of the person at fault?
You need a life insurance policy to cover the risk of death and a health insurance policy as a cushion against hospitalisation expenses. Buy Personal Accident Insurance Coverage :
What are borrower?
Borrower is a person who borrow something. It is a common defination.
How does a person get secured loans?
The easiest way to get a secured loan is for a person to go to their bank and request one. This requires a lot of interviews, documentation for justification of the loan and often a bank representative will want to interview the person first.
Can you get car insurance in case you borrow a car?
No. Car insurance is placed on a car, If you don't own one, you cannot get a policy. The person who owns the car you might borrow should have the extra insurance coverage for other drivers using his/her car.
When you borrow a motorcycle do you need a license and insurance?
ypu need a license, if the person who owns the bike has insurance make sure there is coverage for occasional driver before you borrow it, otherwise it could cost you a fortune if your are in an accident
Is an uninsured friend covered by your full coverage insurance if you let them borrow your car in Ohio?
no No. The person who is borrowing the car must also have insurance.
Can you file a claim against a person with no insurance?
You can file a claim against your insurance company for an action caused by another person with no insurance if you are covered for such an occurance. An example would be if you had uninsured motorist coverage and were hit by someone without auto insurance. However if you want to file a 'claim' against the person directly who has no insurance there is no one to file the claim against. The only alternative here is to sue the person in court.
Who is liable if you borrow someone?
Liability always rests with the at fault party. The insurance company covers the property not the person.
Borrowing secured auto loans?
Borrowing secured auto loans is a great way to save money if one needs access to extra cash. A person can easily borrow a secured auto loan when he or she goes to purchase a new car. In addition, a person may want to take out a secured auto loan if he or she already has to make existing payments on a car. A secured auto loan is truly one of the best ways to get access to extra cash and save the cash that one already has. This sort of loan will truly help a person get his finances ordered.
If a person is driving their parents car under their parents' insurance and lets a friend borrow the car if the friend gets a ticket will the ticket affect the parents' or friend's insurance?
I believe the Parents insurance go up!
Who is liable if you have an accident and you have no insurance but the owner of the car you borrow has insurance?
Well in 2 different states that I have lived and worked in the insurance follows the vehicle not the person. If someone is letting you borrow there vehicle then they are accepting responsibility for your actions, therefore the accident would be covered on there policy. Of course I would check with state laws to make sure.
WhatIf a person hits your car and they do not notify their insurance?
If you know who the company and/or agent is, you can submit a claim to them as a claimant against the other person's insurance.
Doctrine of against the Proffering Person?
swufe bilingual insurance 2007
Can a person file suit against there own insurance co.?
Yes, you can file a suit again your own insurance company. If you do file suit against them, they may drop you.
Who benefits from a life insurance policy?
The beneficiary benefits financially from the life insurance policy by receiving the proceeds of the policy. The beneficiary is the person(s) or entity who is designated by the insured person to receive the proceeds from the life insurance policy upon the death of the insured person. The insured person also benefits from knowing (peac eof mind) they have secured financial protection for the beneficiary in case the insured person dies.
