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A matured policy is one that specifies a date on which the face value of the policy will be paid to the policyowner if the insured is still alive. The maturity date (and hence, the status of the policy becoming matured) will occur either at the end of a stated term, or when the insured reaches a specified age.
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∙ 13y ago
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How do you research an old life insurance policy?
What do you mean by research? Look at the internet or AM Best ratings - see who the successor company is. Phone customer service and describe the policy. They will tell you its values.
If a insurance company pays for Temporary disability are they liable to pay for long term disability?
Insurance companies are notrmally very specific about what they will and will not cover, the policy may only cover short term temporary disability - this does not mean the insurer has any obligations for longer term payouts, you need to read the policy carefully and if still unsure then ruing the insurere or broker that sold you the insurance
What is graduated life insurance?
You might mean one that pays limited benefits the first few years and increases year by year to pay the full amount. This is often done, when there are no other options due to poor health history.
What does later life mean?
Later in your life-as in your golden years.
What does life taken for granted mean?
It means that you should not take your life for granted and do well and not waste your life. hope that helps.
If you let a life insurance policy lapse and then later have it reinsted how long do you have to wait before you can sell that life insurance policy?
What do you mean "Sell" the life insurance policy? Once it is back in force and you are the owner, you can cash it in at any time if there is in fact a cash value. I guess you would have to better define what you mean by selling it.
Can you get a life ins policy on your new husband in the state of new york?
If you mean to ask if you can get a life insurance policy on your new husband WHILE HE IS in the state of New York and you're not there, the answer is no. He has to sign the application. If you mean to ask if you can get a life insurance policy on your new husband AND BOTH OF YOU ARE IN NEW YORK, yes because he can sign the application. If you mean to ask if you can get a life insurance policy on your new husband WITHOUT HIS KNOWLEDGE, the answer is no because he has to sign the application.
What does life insurance units mean?
An insurance policy that pays a monetary benefit to the insured person's survivors after death.
Your life insurance policy was approved with a caveant what does this mean?
You mean either covenant or caveat. Either way, you should contact the issuer of the policy.
What does graded benefit mean in a life insurance policy?
payout reflects military rank
Can one life insurance policy have two names listed as the policy holder?
Do you mean as owner or as beneficiary? Either way, yes.
What does COD mean in a life insurance policy?
In the context of a life insurance policy, it stands for Certificate of Death. It is significant because the occurrence that traiggers the insurer's duty to pay is the death of the insured. The Certiificate of Death is the official documentation of death which will satisfy that requirement of the policy.
What does beneficiary mean for health insurance?
Some health insurance plans offer a AD&D Life Insurance Policy. That is why you would name a beneficiary for a health insurance company.
Is there a life insurance database showing all life insurance policies?
No, there is not. The amount of insurance, and who has it, is personal information and protected by law. There is a policy locator service database. For a fee, you can find out what applications for insurance were made. They point out that just because someone filed an application does not mean they were actually issued a policy.
What does maturation means?
When a life insurance policy matures, this means that it has reached the insured amount. For example, if someone were to take out a $25,000 life insurance policy and continue to pay the premiums, once the policy reached the $25,000 with the payments and dividends, it will have matured.
What does it mean to surrender a life insurance policy?
It means you want to cancel the policy. If there is cash value in the policy, surrender charges will be deducted from the cash value and you will get the remaining balance.
What do you mean by the term life insurance?
Term life insurance is a form of temporary life insurance that provides coverage for a specific number of years. Term life insurance is available for 1-40 years, depending on your health and age. Term life insurance is usually purchased for 1, 15, 20 or 30 years. Term life insurance builds no cash value within the policy. Term life insurance is "Pure Protection". You pay only for the life insurance. If you outlive your policy term, the coverage expires. Level term life insurance is the most common form of term life insurance. Level term offers premiums and coverage amount that remain the same each year for the entire term of your policy.
