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Homeowners insurance companies will generally offer insurance effective immediately at the time of the quote if you have the down payment, your home does not require an inspection, and if it otherwise meets the underwriting guidelines of the company.
The policy is usually effective at 12:01 am the day the policy is bound. The insurance company will not backdate coverage to a prior date because doing so effectively makes it potentially liable for covered losses that may have occurred before the inception date of coverage, and for which it has not collected a premium.
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What happen to an old insurance company called Commercial State Life Insurance Company?
How do I find out who has my policy I had with Commercial State Life INsurance Company
Can a insurance company back date a auto insurance policy?
No, the reason is that there could have been an accident or any other situation. An auto insurance policy must be in force it cannot be back dated.
What is needed to do to change a beneficiary on a life insurance policy if they have passed away?
Contact the insurance company and request a change of beneficiary form. They will mail the form to the policy owner. You fill it out and mail it back to the insurance company so they can update your life insurance policy.
Can an Insurance Company back date a policy?
No, that is not something an insurer would do even if it were legal, which it is not.
How do you find out if old policy valid through the national life and accident insurance company?
I have an old insurance policy dating back to 1948 is it still good
What is look back period in visitors travel insurance?
The pre-existing look back period for a travel insurance policy is the number of days that the insurance company will “look back” to determine if a claim is related to a pre-existing condition. The look back period is generally between 60 and 180 days prior to the travel insurance policy's purchase date depending on the policy selected.
Can you drawn funds from life insurance policy with United Investors Insurance Company?
If the policy that you have with United Investors is a whole life policy and has accumulated cash value then you can take a policy loan against it. And then you would pay that money back plus interest which is basically like paying yourself back. Or you can cash in the life insurance policy and take the cash value with you
If you cash in a life insurance policy do you have to pay taxes on it?
"Insurance and Taxes. No. All proceeds or withdrawals from any insurance policy are not taxable." This is not true. If you cancel a life insurance policy, the growth on the cash value IS TAXABLE. If you do not surrender your policy, the money is taken as a loan and therefore not taxable, but interest that has to be paid back to the insurance company grows.
What does it mean to rescind a cancellation notice?
The cancellation notice ended the Insurance Policy. Stated another way, that means that the (Insurance) contract is no longer in force. To Rescind a Cancellation means that the cancellation has been taken back or voided by the Insurance Company and the Insurance Policy (Contract) is now back in force.
Can you get money back on your life insurance policy if the company cancelled the policy after 15 years of paying?
Why did the company cancel? If you paid your premium, they can't. Was it a whole life, permanent, Universal Life or term policy. If term, there is no cash value.
If I am a beneficiary on a life insurance policy and owe back taxes or have filed bankruptcy will the insurance company hold the check?
No, they will pay the claim to you and then you will be able to do what is fiscally responsible.
What happen if you don't reveal a felony conviction on your insurance policy?
Insurance could become invalid and if any claims have been paid by the insurance company they could ask for that to be paid back to them.
