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.
Lien holder is paid first, any balance goes to registered owner.
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
The owner of the policy.
The holder is the owner, In the case of Life Insurance , the person paid is the beneficiary .
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.
Do you mean as owner or as beneficiary? Either way, yes.
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.
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.
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.
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.
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
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.