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You were over paid by insurance company by mistake can they claim this money back?
Wiki User
∙ 9y ago
Of course they can. If I was you I would go ahead and report this matter to the adjuster that you dealt with to see if it was incorrect or not. All claims will be audited by the insurance company and the claims department. Any mistake will be found out so you should be truthful. I know with the IRS if you are over paid and make any effort to keep the overpayment without reporting it you are committing fraud and will be prosecuted. That's the IRS.
Wiki User
∙ 9y ago
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If your company is owed money from a company that goes into Chapter 11 what do you need to do?
If a company goes into a Chapter 11 owing your company money, you need to submit a claim to the bankruptcy court yesterday.
You surrendered a whole life insurance policy Do you have to claim this money on your income tax?
If you surrender a whole life insurance policy, you may have to claim the money on your income tax. The IRS states the amount you receive that is above the amount paid for premiums is considered taxable.
You loaned your company money but have not claimed it on personal income taxes how many years can you go back to claim the loans?
Claim the loans? You mean claim the interest on the loans, right. Loans are neither a deduction or income.
How does an insurance company earn profit?
They take money just incase something goes wrong, if nothing goes wrong, they keep money. If something goes wrong $$$ > Income, insurance prices go up.
Do you have to pay taxes when you receive money from a life insurance claim?
If you are an individual who receives the life insurance proceeds, you may not have to pay any federal income taxes on the benefits. If the life insurance policy names a trust as beneficiary, the trust may be subject to estate taxes.
Where does insurance claims money come from?
When you get insurance on a car, a house, a boat, you pay the insurance company money, known as premiums. The insurance company invests that money. When there is a claim, some of the premium, along with some of the interest from the invested money, is used to pay the claim.
What does the dental office have to do when a dental insurance company overpays on a claim?
Refund the money to the insurance company and bill the patient for the difference.
What is the money an insurance company gives you if you make a successful claim called?
compensation
How do you file a claim for life benefits?
You contact the insurance company, fill up the claim form and submit documents like proof of death, proof of relationship etc and then the insurance company will process your claim and settle the money
How long can a insurance company request refunds?
If you received money that you were not entitled to and you deposited the insurance check into your bank account and the money was a payout from an insurance claim, the insurance company can swipe the money out of your account without your prior knowledge for up to 3 years. If you received money as a result of a criminal act, the statute of limitations for that crime would guide the insurance company's timeline.
If you get your claim money for damages to your house from the insurance company and find a contractor to do the work for less can you keep the extra money from the claim?
Yes, you can keep the extra money you saved by finding a contractor to do the work cheaper than what the insurance company estimated. The insurance company prepared an estimate of the damage. If you could not find a contractor to do the work for what the insurance company estimated, you could ask them for more money. If they chose to pay you for the damage before it was fixed, they cannot ask for it back if you got the work done cheaper.
Can a mortgage company keep the unused portion of insurance claim money when the job is completed and inspected in tennesse?
No. It would have to be sent back to the insurance company if they paid too much.
What is a claim letter?
A letter you write to your insurance agent/company when you want them to give you money for something you insured with them, explaing why.
The Medical claim was paid after policy was cancelled insurance wants repayment from customer?
DO NOT SEND THE MONEY BACK!!! It was THEIR mistake! They "train" claim processors to assess and pay their claims, which is one of the insurance company's excuses for such high premiums (strange, but true)....if they paid the claim AFTER the insurance policy was cancelled, it only reflects poor training on the insurance company's end...OK, human error, but how is it YOUR fault? And believe you me, if you were in "error" of missing a monthly premium or not paying it in full for whatever reason, there would be no room on their end for YOUR error. I deal w/ ins. co's every day (I work for a surgeon) and you are not legally obligated to return that money!
How do you get insurance money?
Insurance money is paid when you make a valid claim against the policy and can prove why the situation falls under the terms of the policy---whether it is Life Insurance, Car Insurance, Accident Insurance, Travel Insurance, etc. Call the Insurance Company for exact details.
What does the word subrogation mean?
When an insurance company pays out on a claim and then files their own claim against another responsible carrier to recover any money paid out.
If I am in an accident and the other driver has no insurance and my insurance provider has paid my claim do you need to have the auto repair done or can you keep the money?
The money is for an autorepair. I would recomend using it for that, or the insurance company can possibly charge you with intent to defraud.
