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What are the five classifications of 'your insured car' in an insurance policy?
Wiki User
∙ 16y ago
How about?
1) Owned auto
2) non-owned auto
3) temporary substitue/temporary replacement vehicle4) newly acquired vehicle
5) replacement vehicle.
Wiki User
∙ 16y ago
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A fire insurance policy has an annual premium of 780 what is the regular refund if the policy si canceled by the insurance company after five months?
Premium = insured value / $100 * Rate
Who are the participants of insurance markets?
There are five basic participants involved in a life insurance contract. # Contract (policy) Owner# Agent# Insured# Primary Beneficiary# Secondary Beneficiary---- The Five Participants: 1. Contract owner The contract owner is the person that actually owns the insurance policy. 2. Agent The insurance company (see notes below) 3. Insured The Insured is the person whose life is being insured. 4. Primary Beneficiary The primary beneficiary is the person who receives the death benefit when the insured dies. 5. Secondary Beneficiary The secondary beneficiary is an alternate beneficiary that will receive the death benefit if the primary beneficiary previously died. ---- An Example: For example, a wife may purchase a life insurance policy on her husband. The wife would be the owner and the husband the insured. She may name their children as the primary beneficiaries. In this case the children, not their mother, would receive the death benefit when their father dies. On the other hand, if the wife had listed herself as beneficiary and the children as the secondary beneficiaries, the wife would receive the death benefit. Then had the husband and wife died together, say - in a car accident; the children, as secondary beneficiaries, would receive the death benefit on the life policy on their father. ---- Notes:There are two parties in an agency relationship: 1. The party being represented - the client 2. The party doing the representing - the agent An insurance agent represents his client - the insurance company. The insurance purchaser is the insurance agent's customer. The purchaser is the client of the insurance company.
Can you drive some one car if it insured and im over twenty five?
If you are properly insured under your states Financial Responsibility laws then yes you can drive someone elses vehicle. Your age has no bearing on this. Bare in mind that just because the owner of the car has insurance does NOT mean that "You" will be covered under that persons policy, such as an "Operators Policy" also known as a "Named Driver Policy". Coverage for permissive use is determined by the type of policy the owner has in place on the vehicle.
What are the five classifications of health insurance policies?
1 cancelable 2 optionally renewable 3 conditionally renable 4 gauranteed renewable
How many days is a new car insured for after purchase?
Most states it's five days. some states allow 30 days. some insurance companies will allow you to roll insurance from one vehicle to another temporarily. but you will still have to get one or the other insured.
A property insurance policy has an annual premium of 780 What is the regular refund if the policy is canceled by the insurance company after five months?
They are required to refund any unearned premium portion. Policy fees and the like are considered fully earned.
What is permanent life insurance?
Permanent life insurance is another name for whole life insurance. It provides permanent, lifelong protection. This distinguishes it from term life insurance. Click here for more about permanent life insurance including its advantages and disadvantages. A permanent life insurance policy remains in effect for the life of the insured, with premium payments being made for the same period. Permanent insurance consists of a premium and a cash value or savings component. Like term life insurance, it pays off in the event of your death, but unlike a term life policy, it operates differently. The premiums for a permanent policy are nearly five to ten times the amount of the term life rates. A portion of these premiums go into the cash value element of the policy, and over time, these savings can grow. As the name implies, permanent life insurance is permanent - the policy is applicable for your entire life as long as you keep paying the premiums. The most common permanent life insurance policies are whole life and universal life insurance.
Can a life insurance policy with five family members be turned in to five policies?
The answer is in the negative. You are to opt for separate life policies for your five family members to cater their needs.
What consequences if the vehicle insurance policy is expired?
The consequences? You policy is expired, that means you have no coverage. You just need to call your insurance company and ask if they will reinstate your policy. If they say your policy is not eligible for reinstatement you may lose your continuous coverage discount usually about five percent off your premium, not much. Just buy a new policy.
A fire insurance policy has an annual premium of 780 What is the regular refund if the policy is canceled by the insurance company after five months?
An insurance premium is the amount that the buyer pays the company monthly or annually which keeps the policy in effect. If a person paid a 780 dollar annual premium which was canceled after 5 months, they would be owed a 455 dollar refund.
What provisions should a woman take action on after having a five year life insurance policy and a recent divorce?
For the life insurance policy, I'd say change the beneficiary immediately! Now the things to do after the divorse... Get your life back on track and move on!
What does one need in order to start a new standard insurance policy?
"In order to start a new standard insurance policy, you must be have the legal rights to do so. You must be a licensed insurance agent with at least five years of experience. After that, buy a franchise and location. You may also need a business loan."
