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When someone has a life insurance policy on you does this mean when you die they get the money?
Wiki User
∙ 11y ago
If there is a policy on your life the person currently listed as the beneficiary will be paid upon your death. The person listed as the owner of the policy is the only one who has the right to change the beneficiary. Usually the owner and insured are the same person but not always. You may wish to check on this and change the beneficiary if your situation has changed.
Wiki User
∙ 11y ago
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Can someone take out a life insurance policy on someone that they do not know?
Why in the world would anyone want to pay that much money for an insurance policy if they did not know the person? Life insurance is expensive.
What if you become disable and someone else has a life insurance policy on you who does the money go to?
Nobody, unless you die.
What is it called when someone buys life insurance on someone else?
On whose life, policy is purchased, he/she is called 'Life Assured', whereas the former is called the 'Proposer' in a life insurance policy.
What is an unmatured life insurance policy?
The life insurance policy has a maturing date that determines the time it takes for a policy to accumulate the amount of money essential for the policy. An unmatured life insurance policy is one that hasn't yet reached the end of its policy.
What happens if someone dies and has no beneficiary on his life insurance policy?
In that case, the money will be kept deposited with the insurance company as unclaimed amount. In absence of the beneficiary, the insurance company can pay the money to the legal heir of the policy holder, but that has to be sufficiently proved in the Court of Law.
How much money was George's life insurance policy worth in It's a Wonderful Life?
George Bailey has a life insurance policy worth $5,000.
How do you find lost life insurance?
If you believe someone has a life insurance policy but you cannot find the actual policy or who the coverage is with you can get help through The Center for Life Insurance Disputes.
How long does it take to cancel your life insurance policy?
I have a whole life insurance policy, how long does it take to cancel it, also can I get money back from it.
Person who receives money from a life insurance policy?
Beneficiary
Are life insurance benefits part of a will?
It will state on the life insurance policy the name of the person or persons who are to receive the death benefit. Since a life insurance contract is a legal document, the insurance company is required to carry it out exactly as stated in the policy. The money may be argued over from that point, but the will cannot dictate where the money from a life insurance policy goes.
How do you get your termination money in a lump sum for life insurance policy?
Send in your policy and ASK.
Can money be pulled out of a life insurance policy prior to death?
You must direct your question to the insurance company that holds the policy.
