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Marion Said:

Once an insurance company encashes my premium cheque, from when should the risk start?

We Answered:

There are guidelines given with each quote that state when the coverage will begin. The fact that they cashed your check unfortunately does not mean that coverage has started. If you think this should be a different date then review the information given to you when quoted and see what the stipulations are.

Good luck!

Esther Said:

Is it legal for an insurance company to refund the premium and refuse to pay the claim.?

We Answered:

What the life insurance company did is called recision. It's perfectly legal.

Recision occurs when an applicant for life or health insurance fails to tell the truth on an application for insurance. The life and/or health insurer uses the application to determine eligibility for the policy. That's why it's called an "application". The insurer bases their decision to issue based on the information disclosed.

Most life insurance policies have a contestibility period of 2 years. If the applicant dies before the end of the 2 years, everything on the application (or what may have been left off) is subject to verification by the insurer. Once the application is found as being falsified or unjustly attained, they may refund all premiums and deny any coverage that would have been allowed had the policy been acquired correctly.

Joyce Said:

If I am a named driver with an Irish car insurance company will a claim affect my British insurance premium?

We Answered:

Yes, it should.

Elmer Said:

How Does The Insurance Company Determine My Health Insurance Premium?

We Answered:

Mostly your age, unless you list several illnesses you had or there is something in the family history that would raise a caution flag.

Corey Said:

Does anyone know of a health insurance company that pays the Medicare B premium?

We Answered:

The insurance is correct in saying that "everyone must pay the premium". However, it doesn't matter from where the money comes. There are some individual Medicare Advantage policies that are currently "rebating" some or all of the premium. Some retirement systems will pay or rebate the premium. The state Medicaid department will also pay some or all of the premium in some cases.

However, even if there are some individual plans that do pay the premium in your area it is too late to change in most cases. You are probably locked into your current plan until open enrollment next fall. Contact a local agent that works with all of the major companies in your area to see what your options would be at this time.

Toni Said:

which insurance company is reliable, better and with low premium ?

We Answered:

Dear Mr. Suresh,
As an LIC Agent, I can suggest you for an LIC policy, which has got Central Govt. back up guarantee and it is a company set up by ordinance as a non profit organisation, all the profits are paid back to policy holders by way of bonus after paying 5% of net profit to Central govt.

If you are aged 50 years and wish to take term policy, I suggest you LIC's Anmol Jeevan a pure term assurance ang covers your life for 15 years with an annual premium of Rs.6871 for a sum assured of Rs.5,00,000 and no maturity benefits available only death benefit of Rs.5,00,000 for 15 years.

Secondly, I suggest you LIC's Jeevan Amrit where you can be covered for 20 years and you have to pay premiums only for 3 years as first year Rs.16,636 and 2nd and 3rd year Rs.8,220 and your life will be covered for Rs.1,00,000 for 20 years and on maturity you will get back your premium paid plus bonus.

Choice is yours, because the hard earned money is yours.

Good Luck
pnkmurthy@yahoo.com
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