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It depends, but the terms are NOT interchangeable.
The guarantor is the person or entity financially responsible for the bill. The subscriber is the person who carries the insurance.
Example of when they are the same person: An adult carries their own insurance policy (subscriber). They are also financially responsible to pay the charges they incur for the doctor's visit (guarantor). Charges include non-covered services or share of cost such the deductible, copay, or co-insurance.
Example of when they are a different person: Adult 1 (father) carries a family insurance policy (subscriber). Adult 2 (son, a college student) is covered under Adult 1's policy. Adult 2 is responsible for their share of cost (such as copays and coinsurance or anything that isn't covered under the insurance policy).
What else can I help you with?
Subscriber is the same as what term?
Policyholder Insured Member
What is the spelling of guaranter?
guaranter
Does a guarantor have to sign a lease for his responsibility as the guarantor?
Yes
What are my rights as a guaranteer?
Assuming that there is a written agreement showing that you agreed to serve as a guarantor on behalf of a creditor, the guarantor (or as you call it, a guaranteer) generally has the same rights and defenses against a creditor as the debtor would have. Often, the written agreement guaranteeing the creditor, will spell out what rights and defenses a guarantor may assert.
Is policy holder same as subscriber?
Yes, Both are interchangeable.
Are guarantor and sponsor same?
No, a guarantor and a sponsor are not the same. A guarantor is an individual or entity that agrees to be responsible for another's obligations, typically in financial contexts like loans or leases, ensuring payment if the primary party defaults. A sponsor, on the other hand, often refers to someone who supports or promotes an event, project, or individual, providing resources or funding without taking on financial liability.
What are the duties of a guarantor?
When a person does not have good enough credit to secure a loan or financing on their own, they need a guarantor. A guarantor is a co-signer, and that means if the person taking out the loan does not make the payments, then the guarantor has to make the payments.
Can you cancel an agreement being a guarantor?
No, you can not stop being a guarantor to an agreement while the terms of that agreement are in force. Thus if you are a guarantor for rent and the person your are guaranteeing fails to pay the rent - YOU must pay the rent.If you a guarantor to a loan and the person with the loan defaults, YOU must pay off the loan.This is what it means to be a guarantor - you can not get out of the agreement when things begin to go wrong.Think VERY carefully before being a guarantor to ANYTHING.
What happens if a guarantor dies and the loan is defaulted upon?
I was wondering the same thing. My father was the loan guarantor of my daughter's college loan, and he passed away a couple of years ago. Letters are still being mailed to an address where he never lived.
In corporate law is trustee for debenture holder also known as a guarantor?
No, trustee is different from a guarantor.
How do you use the word guarantor in a sentence?
His father acted as guarantor when he got the loan from the bank to buy the house.
What are the rights of a guarantor against a creditor?
A guarantor has certain rights against a creditor, primarily the right to be indemnified for any amounts paid on behalf of the principal debtor. This means that if the guarantor fulfills the debt obligation, they can seek reimbursement from the debtor. Additionally, the guarantor may have the right to request that the creditor pursue the principal debtor before seeking payment from the guarantor. Lastly, the guarantor can challenge any actions taken by the creditor that might unfairly disadvantage their position.
