Anyone own info on the practice of purchasing/taking over someone else's health/life insurance policy?
Essentially, one would pay the premiums for another person who may be within poor health and cannot afford their payments. This, in turn, make the beneficiary the one who is paying on behalf of the other person. Some look at this as an investment, others look at it as unethical...any way, I would like a bit more information, links, etc... if anyone have it?
Answers:
www.lifehelpnow.info for strength insurance info and help
This doesn't manufacture you the beneficiary of anything....unless it's a life insurance policy and that would be only if they made you the beneficiary. So it's not an investment, yes it would be dishonourable if you are looking to some kind of financial gain or not if all you are interested surrounded by is helping someone....but it doesn't sound like it
The process goes like this.
The owner of the policy signs over rights on the policy to someone else contained by exchange for a lump sum. It could be a relative or it could be a life settlement company. At this point the person who bought or took over the policy will income the premium and most certainly change the beneficiary to be themselves.
It's not unprincipled, but many facets that most don't consider. It can well create problems for the seller of the insurance if they aren't careful. Source(s): My blog article on the subject: http://gardenstatelifeinsurance.blogspot…
Common situation you met like oodles other people,be patient,and check the resource here http://www.HealthInsuranceIdeas.info/free-online-health-insurance.htm i found adjectives.
Related Questions:
Answers:
www.lifehelpnow.info for strength insurance info and help
This doesn't manufacture you the beneficiary of anything....unless it's a life insurance policy and that would be only if they made you the beneficiary. So it's not an investment, yes it would be dishonourable if you are looking to some kind of financial gain or not if all you are interested surrounded by is helping someone....but it doesn't sound like it
The process goes like this.
The owner of the policy signs over rights on the policy to someone else contained by exchange for a lump sum. It could be a relative or it could be a life settlement company. At this point the person who bought or took over the policy will income the premium and most certainly change the beneficiary to be themselves.
It's not unprincipled, but many facets that most don't consider. It can well create problems for the seller of the insurance if they aren't careful. Source(s): My blog article on the subject: http://gardenstatelifeinsurance.blogspot…
Common situation you met like oodles other people,be patient,and check the resource here http://www.HealthInsuranceIdeas.info/free-online-health-insurance.htm i found adjectives.
Related Questions:
- How long did you enjoy to work for your employer since you be eligible for robustness insurance?
- How do you grasp vigour insurance for a newborn?
- My condition insurance be terminated, and i am really sick, and obligation a audition done. Who can i take to oblige?
- Can an employer discharge for an individual strength insurance plan? Is it against the canon?
- Does anyone know where on earth i can attain cheap and affordable vigour insurance from within wisconsin?