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The car owner and the policy holder better be the same person. If not nobody will be able to get the money. You cannot insure a vehicle that you do not own. If you do the insurance company cannot pay the policy holder because they don't own the vehicle. They can't pay the vehicle owner because they don't have a contract of insurance with the insurance company.
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∙ 10y ago
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Who gets insurance money on a total loss policy holder or vehicle owner?
Lien holder is paid first, any balance goes to registered owner.
If someone is listed as a driver on the insurance policy can they be accused of stealing the car?
Yes. Being on the insurance doesn't make someone the car's owner. Only the deed holder or the lien holder can be classified as the owner and can claim that the car is stolen. yes
Who can bring a claim on a real estate title policy?
The owner of the policy.
The holder of the insurance policy is called the?
The holder is the owner, In the case of Life Insurance , the person paid is the beneficiary .
What type of policy can a owner and beneficiary be the same?
In any life insurance policy, though there is provision for appointment of nominee, on maturity the proceeds will be payable to the policy holder if he/she is alive. By this way, the owner of the policy and the beneficiary is the same person.
Can one life insurance policy have two names listed as the policy holder?
Do you mean as owner or as beneficiary? Either way, yes.
Mother gives 4 sons her home she pays insurance premiums in her name years later a claim is made who legally has claim to the insurance proceeds mother or sons insurance was never changed to the sonns?
The legal right to the money requested in the claim goes to the person who is named in the policy. Regardless of who was paying the premiums.... (even if the sons made the claim to fix something) Mom has her name on it she will be named on the check and will be the rightful recipient to the claim.
Who takes over a life insurance policy when the policy holder dies?
If the policyholder (policy owner) is also the insured, then no one does. The policy proceeds (assuming the policy is in force at the time of death) are paid according to the designated beneficiary(ies), and the contract ceases to exist. If the policyholder (owner) is not the insured, then the policy ownership would flow according to the owner's will.
Can an owner attack the validity of their own title Or does a claim ALWAYS need to be originated by a third party?
If you were issued an Owner's Policy and now think there are defects in the chain of title, (the cloud must be from prior owners, not from the time you have owned it as title only covers the prior owners acts, not yours), then you can file a claim against the title agency that issued the Owner's Policy to you.You cannot file a claim if you do not have an Owner's Policy because the Lender/Mortgage Policy is issued only for the benefit of the Lender.
After a couple has been married for 11yrs and have two children they decide to get a divorce does the wife have claim to keep a life insurance policy on her husband if he dies?
Yes, she can legally keep any insurance on him that she is the policy holder (owner) of. However, she cannot apply for any new insurance for him, and if the policy goes "inactive" she may not be able to reinstate it.
What are the Michigan laws when a beneficiary dies before the policy holder?
I assume the policy holder is the insured? Has the insured died? If not, It is time to change beneficiaries. Seek out the help of your agent to make sure you choose a properly named beneficiary. If the insured has died, there would have been a contingent beneficiary. All you need to do is contact the claims department of the insureds insurance company. If you are not the policy owner or the beneficiary, you are going to be limited in what info you can obtain but you can initiate the claim. 4lifeguild
What is an auto lienholder?
A lien holder is someone who has a financial interest in a car. It could be the bank you financed it from, or someone else who the car owner owes money to. The car owner's name is on the title with the lien holder's name so that you can't sell the car without the lien holder signing the title...this means that you don't owe the lien holder any money on the car. The car is now 100% owned by the title owner.
