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There are 2 types of assignments in life insurance.
Absolute Assignment - This means that you give up all of your rights to a life insurance policy forever. An absolute assignment may be used if you are selling your life insurance policy, or during a divorce where you give up all rights to your policy.
Collateral Assignment - A collateral assignment is when you give up your rights to a policy until you have satisfied your collateral requirements. A loan is a classic example where a bank may require that you get a life insurance policy with a collateral assignment. If you still owe the bank money when you die, the bank would be repaid its money and any leftover would be paid to your beneficiaries.
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What does accept assignment mean if selected on a claim for non-government insurance company?
It means you agree to have assignment of benefits (payments) made to the provider of service(s).
What does it mean when it asks if your life insurance policy is assigned?
It usually means that you have pledged or sold the end of life benefit from the policy to guarantee an obligation such as a loan. Otherwise, there is not much difference between an assignment and a beneficiary; You die, and the policy benefit gets divided up between the beneficiaries and assignees. Some insurance carriers don't make a distinction between the two. Assignment rules vary among insurance carriers, so if you are being asked to make an assignment, you may want to ask your carrier first. In any event, the carrier will require that you make the assignment or beneficiary change yourself; a third party can't do it.
What does the statement, "insurance life no physical term" mean?
It would mean you could get term life insurance with no medical exam. Term life insurance only protects you till a certain age.
What does the line life has loveliness have to sell mean?
life insurance
Is life insurance preminums more than cash value insurance?
Google the types of life insurance first. You need to learn a little about life insurance. The terms you are using and spelling are weird. Most people use cash value insurance to describe a type of life insurance.I do not really understand what you mean but, from my experience, I can only guess that by life insurance you mean term life insurance. If that is the case, then, in most situations, term life insurance has lower premiums than cash value life insurance (whole life, universal life...). Be well! mcdlife.com
What does gtl mean on a paycheck?
Group Term Life (life insurance)
What does ind assignment mean?
indigent assignment
What does accept assignment mean?
When a doctor or hospital sends a bill to an insurance company, the insurance company in turn sends them an offer of a lesser amount to pay the bill. The doctor or hospital then decides whether or not to accept the offer or "assignment." Most of the time they accept it so they can get paid without any problems.
What does mi tarea mean in spanish?
Tarea is assignment .... and typically used to mean homework assignment by the parents in my school.
What is the cheapest but best life insurance company get life insurance from?
There are so many professing to be the cheapest. Cheap does not necessarily mean best
What do shells mean in a still life?
I have to do an art research assignment for school and i have to know what shells represent/symbolize/mean in a still life and i'm looking and can't find the answer anywhere
What does life insurance mean?
Life Insurance means protection in the event of loss of life of the main bread winners of the family, so that the family is not washed away by the eventuality .
