A relative has just died. He had a life insurance policy with you listed as the beneficiary. There's just one problem: the life insurance policy is missing. You have no idea which insurance company wrote it.
If you find the missing life insurance policy in the future, are you still eligible to receive the death benefit?
Hope they paid their insurance bills
If you're a beneficiary and you find the lost life insurance policy shortly after the insured dies (within six months to a year, for example), claiming the death benefit should be trouble-free.
First, determine if the insured had term or permanent life insurance. If the insured held a term policy, you'll receive the death benefit if he died before the end of the policy term. If he died after the policy expiration date, you would get nothing.
If the insured had a permanent life policy, you'll receive the money if the death occurred while the policy was "in force," meaning all premium payments were made up until the time of death. If the death was a while ago, you'll receive the benefit with interest from the date of death.
If the life insurance policy lapsed — meaning the insured stopped making premium payments before he died — there's a chance you might get nothing. When a permanent life insurance policy lapses, most insurance companies switch its status from permanent insurance to one of two options:
"Extended term" — The insurance company uses the cash value of the policy to buy a term life insurance policy for the same death benefit using the cash value of the policy. The death benefit will continue for the longest period the cash value will purchase.
"Reduced paid up" — The insurance company will keep the policy in force permanently, but will reduce the death benefit.
Gerry Brogla, an actuary for State Farm, says in the majority of the cases at his company, the permanent policy continues as extended term if it lapses. At State Farm, extended term is the default option for most permanent policies.
If the policy lapses, and the extended-term period expires before the insured dies, the policy is worthless and the life insurance beneficiary will get nothing. If the insured dies before the extended-term period is up, the beneficiary will receive the death benefit. If the policy lapsed because the insured died (thus ending premium payments and causing the insurance to be placed in extended-term status), the beneficiary will still collect the full death benefit, regardless of when the extended term was up. The beneficiary always needs to supply the insurance company with a death certificate to verify the date of death.
There is no time limit during which a life insurance beneficiary must step forward to collect the money, according to Jack Dolan, spokesman for the American Council of Life Insurers. "If a person shows up 30 years after [the insured's] death, the company still makes good on it," Dolan assures.
What happens if no one ever reports the death?
If the insured dies and the insurance company does not learn of the death, the policy lapses. Insurance companies will take steps to find out why a policyholder stopped making payments.
When an insurance company stops getting payments, it sends letters to the insured informing him the policy may lapse as a result of unpaid premiums. If the letters go unanswered, the company might initiate a search to find the insured. If that comes up empty, the company will then lapse the policy.
If a beneficiary to a policy never steps forward, it unfortunately means the insured paid money to a policy throughout his life and his beneficiaries never see a penny. This is why its a good idea to make sure beneficiaries are aware of any life insurance policies you have.
If you're lucky, the state may have your money
In some cases when a beneficiary fails to claim a death benefit for several years, the money is transferred to the state where the insurance policy was purchased under the escheat laws.
If a company knows an insured died and it cannot find the beneficiary, it must turn the full death benefit over to the state comptroller's department within three to five years of the insured's death. The money is transferred to the state where the insured bought the policy. The money is considered "unclaimed property" and gets lumped in with dormant bank accounts and uncollected rent deposits. The comptroller's department maintains a database that lists the names and addresses of lost life insurance beneficiaries.
Many states will try to contact life insurance beneficiaries in an effort to pay the death benefits. In Texas, for example, the names and addresses of the beneficiaries are published annually in each county in the state. In New York, the Web site of the New York State Comptroller's Office of Unclaimed Funds has an online search to find any unclaimed death benefits owed to you. You can find out the procedures in your state by contacting the office of your state comptroller or treasurer.
Keep in mind your chances of finding the policy with the state are slim. The insurance company has no obligation to hand the money over to the state if it's unaware the insured died. In most cases, it's the beneficiary who contacts the insurance company.
Also, the insurer only transfers the money to the state three to five years after it cannot find the beneficiary but knows the insured died. If the state doesn't have the death benefit, it's likely the insurer is still looking for the beneficiary or doesn't know the policyholder has died.
Unclaimed death benefits are rarely transferred to the state. Dave Potter, a spokesman for Hartford Life, says less than 1 percent of his company's death benefits go unclaimed.
Del Chance, a life insurance claims manager at State Farm, says, "Turning over life policy benefits to an individual state after the death of an insured is extremely rare. State Farm utilizes their own search techniques as well as outside vendors to locate lost beneficiaries in the event of the death of one of our insureds. By and large these procedures have always located the beneficiary.
Tips for making sure your life insurance beneficiaries get your death benefit:
1. Give your beneficiaries your policy information. It can be a difficult and awkward conversation, but an important one.
2. Keep all your financial records (especially your life insurance policies) in one place. Don't force your beneficiaries to search your house from top to bottom after you die.
Tips for looking for lost life insurance policies:
1. Go through canceled checks or contact your relative's bank for copies of old checks. Look for checks made out to insurance companies.
2. Ask those who may have known about your relative's finances. Speak with the relative's lawyer, banker or accountant. Also contact the relative's insurance agent.
3. Contact your relative's past employers. They might know of possible group life insurance. The insured might have also purchased supplemental life insurance through work.
4. Check the mail for a year. Premium bills and policy-status notices are usually sent annually.
5. Look at income tax returns for the past two years. Check for interest income from policies or expenses paid to life insurance companies.
6. Contact the Medical Information Bureau. If your relative bought life insurance fairly recently, there might be a trail of the companies to which he applied. The Medical Information Bureau (MIB) maintains a database that might show if insurers requested your relative's medical information within the past seven years. Record searches can be requested through the MIB's Policy Locator Service and cost $75. The MIB says that nearly 30 percent of searches turn up leads.
Sunday, May 29, 2011
Car Insurance Auto Insurance Several other Quotes
Auto Insurance Quote can be acquired through one of the most effectual ways. It isthrough procuring multiple automobile insurance quotes from insurers and also getting hold of some good, qualified and knowledgeable online agents to assist with the quote and premium. They will provide hassles free automobile Las Vegas Auto Insurance Quote from any local automobile Las Vegas Car Insurance company. Most Las Vegas Auto Insurance companies have websites where one can enter the vehicle information and driving record and then receive an instant quote.
Several other things can be enquired during the discussion with potential Vegas Auto Insurance providers which may help in attaining a low cost automobile insurance. Queries about the automobile like whether it has a GPS locator system, alarm system, anti lock brakes, air bags or daytime running lights and similar queries should be asked before taking the Las Vegas Car Insurance coverage.
247autoinsurancequotes
Life is a smooth sail for some people and for a few, everything goes wrong. But the fact that everything is going right for you should not deter you from taking an auto insurance policy. Driving your vehicle without an auto insurance coverage is unlawful. Not only that, this insurance protects your vehicle, your life and that of your family members when you are on road.
In earlier times, taking auto insurance was a difficult task. You had to wholly depend on an agent who might not have any concern over your interests or if you wanted to choose the best policy at a low cost, you had to visit these insurance companies for gathering their quotes. Sometimes, you could get the quotes over phone also. This was a time-consuming and daunting task. Even with all the details, you were not sure if you ended up paying more.
The advent of Internet has metamorphosed this whole process. You can get the auto insurance quotes of various companies online. There are providers who can get the free quotes of all the insurance companies so that you can make a comparative study of them and arrive at a decision.
Auto insurance is very expensive and hence you can not afford to ignore such steps. But at the same time, you can not skip taking auto insurance also. The importance of auto insurance need not stressed because if an accident occurs, the cost you incur for setting things right in the aftermath of the accident will be quite enormous. In short, the negative effects of not having auto insurance are huger than the cost of this insurance.
The providers of free auto insurance quotes of various insurance companies make your task of taking this insurance simple and easy and you save a lot of time and energy also. Since most of these providers make these quotes available on line, you get all the details wherever you want.
Stiff competition prevails among these providers and hence they will be more than willing to get you the best quotes of insurance companies. If you take your auto insurance policy through them, they earn not only profits but can get many new customers through you because if you are satisfied with their services, you will recommend them to a few of your friends and relatives. You also get your auto insurance at an affordable cost.
Auto insurance laws may slightly vary from State to State. Hence you should study the state laws and see that the quotes offered by the providers cover these clauses also. You can mesh your own needs with the mandatory clauses and request them to give quotes that satisfy both these points. The common details of your vehicle, the details of yourself and your family members, your driver's license number, vehicle plate number and identification number are given. If you already have an auto insurance, those details must also be furnished for obtaining the new auto insurance. The details of past driving records and accidents, if any, will also be sought by the auto insurance company. http://www.247autoinsurancequotes.com
Saving Through Auto Insurance
With the growing number of road accidents taking place every day, it is very important to secure your automobile against any damage costs through an effective auto insurance, otherwise one may face grave financial repercussions, such as auto repair, auto body repair, paint job, etc. Auto Insurance of Las Vegas provides affordable car insurance coverage in Las Vegas. Las Vegas auto insurance quotes can prove to be very costly if the right auto insurance company is not selected.
There are many factors which influence the Las Vegas car insurance rates like age, the kind of vehicle, driving record, the location of residence, the credit score, the number of miles driven, the credit score and the coverage. A good credit score can help you achieve lower premium on your Las Vegas car insurance.
Las Vegas Auto insurance quotes and rates vary from company to company, so some comparative research can be done and at least three quotes should be considered from different insurers or agents to get a comparative idea and select the most cost-effective Las Vegas auto insurance. The same information about the Las Vegas Car insurance, deductibles and coverage should be given to each company in order to get an accurate comparison. The current auto policy should also be kept in mind. Different phone directories should be checked to acquire information about agents or companies that do business in Las Vegas auto insurance and quotes should be requested online from individual company sites.
There are comparative websites which can also be conveniently used. These sites are not biased towards any one company so various information and particulars are added to get back several different Las Vegas auto insurance quotes. This allows the customer to follow up on the required quote.
Other means to save are by increasing deductibles, taking advantage of any existing discounts and driving fewer miles. Certain companies claim to reduce the premium from five to 20 percent with discounts.
California Auto Insurance searches and gets quotes
The state of California requires all car owners to have auto insurance for licensing, registration and operating a vehicle. Purchasing auto insurance with adequate coverage at the lowest price can be difficult.
With many preferred insurance carriers, California Auto Insurance searches and gets quotes for each consumer because the types of freight companies can be very difficult to deal with on your own. Insurance rates are based on the experience of past losses and expenses. These can be very different for each insurance company, even within a given town, city or metropolitan area. To make insurance shopping an easier experience fill out some basic information on a single form to get car insurance quotes from multiple agents instead of one carrier. The right California Auto Insurance agents can help you get the best coverage at the best price. So take some time to shop before you buy. You can save money and get better coverages by finding the right agent.
The required auto insurance coverage in California includes:
- Bodily injury coverage with a minimum of $ 15,000 for an individual and $ 30,000 for all persons in any accident.
- Property damage liability with a minimum of $ 5,000. This pays for damage to property of others.
Shop Around for Auto Insurance. You may not realize it, but the insurance rates you pay for on your car can vary greatly depend on the company that you choose. You should always compare before deciding on a policy. California also has what's known as the California Low Cost Auto Insurance Program. This program helps reduce the number of uninsured drivers on the road, providing low-income good drivers with affordable auto insurance options. Qualifications are based on household income, good driving record and the value of the vehicle at the time of purchase. Here are some examples of what determines the cost of your auto insurance premium.
- Type of vehicle - car insurance is more expensive for newer cars, because it costs more to repair or replace. Car insurance varies from car to car, so before buying or leasing a new vehicle, check to see how much the car insurance will cost.
- Use - The more miles you drive, the more your insurance will cost.
- Deductibles - You can increase your deductible to reduce your auto insurance costs, but make sure it is financially viable and the right decision.
- Driving record - Many companies offer discounts on auto insurance for consumers without accidents and violations. Drive safely and pay less on your auto insurance.
- Multi-Policy Discount - Some insurance companies offer a discount to consumers who purchase both auto insurance and home insurance from them. This also makes it easier for you to have one insurance agent to work with.
- Group Discount- Some companies have discounts available if you are a part of a specific group- for example, the employer, association, occupation, etc. Be sure to ask your California Auto Insurance agent about group discounts.
- Good student – Teenage drivers on your policy can increase your auto insurance rates. If the teen is a good student, most companies offer a discount on your auto insurance.
- Restraint systems and anti-theft devices - Many companies offer a discount on your auto insurance if your car is equipped with safety devices, such as certain anti-lock brakes, air bags, anti-theft and / or vehicle recovery systems.
Auto Insurance or any auto insurance
nsuring the car in a Cincinnati Auto Insurance has always been a big deal for every resident of Cincinnati. Looking for the most excellent pact on auto insurance can seem to be like an overwhelming task. With a lot of information presented on the various Auto Insurance Company, policy buyers are puzzled to take the helm.
Although discovering the most excellent Auto Insurance Company is some kind of a task that is difficult to do, there are ways that will guide you in the right track. Cincinnati Auto Insurance Company discerns how harsh it is to be drawn in an accident that is why they offer the policy that could help the burden of the residents of Cincinnati.
The major intentions of Cincinnati Auto Insurance or any auto insurance is to safeguard us in case of unavoidable circumstances. For this reason, if you want to have a helping hand, it is necessary for you to purchase an auto insurance that will protect your property when something happens unexpectedly.
Shopping for the auto insurance will take a lot of time and effort. However, if you have your internet connection at home, shopping the best Cincinnati Auto Insurance will be easy as what you have ever wanted. The internet is loaded with auto an insurance web site that presents quotes from poles apart insurance companies. Thus, policy seekers will have a great chance to explore the service offered by the various auto Insurance Companies.
When you look through the internet, you will also be able to gaze for the cheapest auto insurance by simply following the steps and clicking the button. You will certainly do well on your line of attack to discover the least expensive auto insurance company. There are so many discounts being offered by Cincinnati Auto Insurance for policy buyers. Thus, purchasing this auto insurance will fit in your financial plan or budget.
Inquiring all important matters or detail by detail informations will certainly help you out once you bump into an accident. For unforeseen circumstances, like when you stumble upon a vehicular accident, how can you be very certain that the policy or the coverage that you have paid for your auto insurance is just enough to cover the expenses? You will surely be in trouble later on when you do not have any idea about the terms and conditions once you got involved in accidents. Therefore, make it to the point that before coming up into a decision make sure that you fully understand everything that pertains to your auto insurance.
The search in finding the best Cincinnati Auto Insurance will be difficult if you do not have any way to make the task simple and trouble free. Keep in mind that shopping the best auto insurance in Cincinnati is not an unpleasant task to be made; to a certain extent it is an opportunity to set aside quite a lot of your money on your auto insurance. Finally, be certain that you insured your vehicle in Cincinnati Auto Insurance for the reason that you are in no doubts that you are in the right track
Auto Insurance Quotes.
Auto Insurance of Las Vegas is a local auto insurance provider in Las Vegas that offers reasonably priced Las Vegas Car insurance coverage to the residents of Las Vegas and surrounding areas. Its agents are fully qualified and assist clients in determining the optimum auto insurance and the most reasonable Las Vegas Auto Insurance quote and premium for the Las Vegas Auto insurance. Theirlocal professionals deeply understand the needs of the locals and make available accurate auto insurance for them. This Las Vegas Car Insurance company offers a variety of insurance possibilities to its clients.
Being locals gives Auto Insurance of Las Vegas the benefit of knowing and understanding the market and the issues in a better manner. Therefore, they can advise clients on the optimum Las Vegas Auto Insurance, ensuring there is just enough auto insurance coverage. Their friendly and knowledgeable auto insurance agents offer reasonable and affordable Las Vegas Auto Insurance Quotes for insurances such as automobile insurance, motorcycle insurance, truck insurance, recreational vehicle insurance and other Las Vegas Car Insurances.
Quotesby the agentsof Auto Insurance of Las Vegas are only determined after a thorough analysis of the type of Las Vegas Auto Insurance required and the precise level of coverage needed. They make sure that the minimum state standards are adhered to for every Auto Insurance Quote Las Vegas. In case there is a Las Vegas Car insurance coverage that goes beyond the state standards, their thoroughly trained and qualified professionals duly examine the policies concerned and only approve the auto insurance if there is an urgent need or utmost necessity to increase the coverage.
They provide the most competitive and affordable Las Vegas Car Insurance coverage to their customers. The background resources are properly examined and only the best Las Vegas Auto Insurance Quote is offered to the clients. Since they consider clients as their foremost priority and are absolutely customer focused.
They recommend several strategies to the clients for selecting the optimum Las Vegas Car insurance and coverage. Such strategies have helped a lot of their clients achieve best quotes that have been increasingly beneficial for the clients. They have years of hands on experience in the field of Las Vegas Auto Insurance coverage and policies. Their clients depend on them for reliable and profitable Las Vegas Auto Insurance Quotes.
Auto Insurance of Las Vegas believes in providing result oriented solutions for its clients in order to establish long term business relationships that spell enhanced business for them and better Las Vegas Auto Insurance coverage, Las Vegas Car Insurance coverage and more affordable Las Vegas Auto Insurance Quotes for the clients.
Friday, May 27, 2011
.7-liter straight-six engine, iconic sports car celebrates its 50th anniversary in 2011,
restoration specialist thadedicates its activity exclusively to the Jaguar E-Type. As the iconic sports car celebrates its 50th anniversary in 2011, Eagle has thought of a very special way to celebrate the occasion: the one of a kind Eagle Speedster, a roadster models that combines the beauty of the classic E-Type with the company's technical expertise and craftsmanship.
The car was commissioned by U.S. collector Rick Velaj, who wanted something "a bit special". Eagle designer Paul Brace penned a sketch, Velaj loved it and the rest came naturally. Everything on the E-Type Speedster is custom made. Like the 1960's Jaguar E-Type, Eagle's car sports classic finishing, with every detail being designed and customized, from the unique shape of the all-aluminum body, adapted from an original body by RS Panels, right through to the custom made windshield glass.
Under the beautifully sculpted body, Eagle engineers mounted an in-house developed 4.7-liter straight-six engine, matched to a five-speed gearbox. The six-cylinder produces 340 lb-ft (460 Nm) of torque and is expected to offers sports car performance numbers to Speedster which tips the scales at just under 1,100 kilograms (2,425 lbs). Handling was also an aspect that Eagle improved by fitting an optimized sports suspension and by widening the wheel track.
The lowered floor pan gives the Speedster a low profile, while also dropping the driver seating position for a sportier feel. The car's elegant lines connect with the cockpit through a "waterfall" console that descends between the two seats and is continued with the center tunnel. The dashboard is pure E-Type, with an aluminum fascia, classic instrument panel and wraparound leather upholstery. The custom-designed aluminum wheels fitted with three-eared wheel spinners are another example of Eagle's attention to details.
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Eminem ad, Chrysler tackle, Ndamukong Suh, and fashion designer John Varvatos.
Chrysler Tones it Down a Notch with its New Imported from Detroit Campaign for the 2011 Town and Country
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The refreshed 2011 Town and Country minivan is the point of focus in the latest commercial in Chrysler’s “Imported from Detroit” campaign. The new TV spot is called “The Quiet Ones” and it takes us to Michigan and the state’s 2011 hockey champions, the Novi Wildcats, featuring one of the team members, Mason Pew.
Despite some strong statements such as “Some are quieter than others” and “You’ll find them with their heads down working their butts off”, the new commercial lacks the power of Chrysler’s previous ads, especially when you compare it to the original spot starring Eminem and the 200 sedan.
Aside from the Eminem ad, Chrysler has also launched two TV spots for the new 300 saloon starring Detroit Lions defensive tackle, Ndamukong Suh, and fashion designer John Varvatos.
VIDEO
Mazda3 compact car production of 3 million units
Mazda announced that its Mazda3 compact car (known as the Axela in Japan) has reached a new milestone with the production of 3 million units, seven years and ten months after the launch of the first-generation model. The fastest-selling model in the company's current lineup of passenger cars is produced in three locations (Japan's Hofu Plant in Yamaguchi, China's CFMA plant in Nanjing and Thailand's AutoAlliance plant).The compact model is sold in approximately 90 countries and regions across the world.
The three-millionth Mazda3 was produced at the Hofu Plant in the form of a five-door hatchback for the Japanese market fitted with Mazda's MZR-2.0L engine and the i-stop system.
"The Mazda3 embodies all three elements of Mazda's DNA: distinctive design, exceptional functionality, and responsive handling and driving performance. Its sustained global success has seen it grow into Mazda's mainstay model, and it now comprises a third of all Mazda vehicle sales," said Hirotaka Kanazawa, Mazda's senior managing executive officer in charge of R&D.
"As we celebrate reaching three million units, I would like to thank the millions of Mazda3 customers for their support and reaffirm Mazda's commitment to delivering outstanding environmental and safety performance balanced with driving pleasure that goes beyond your expectations," the executive added.
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The Swift DDiS features a revised 1.3-liter turbocharged four-cylinder diesel engine rated at 75-horsepower and 190Nm (80 lb-ft) at 1,750rpm.
If you want to be successful in Europe, diesel options are a must for any carmaker, even more so in the mainstream segments. Following the launch the gasoline powered versions of the new generation of the Swift last summer, Suzuki has now added a diesel option to the supermini’s range. The Swift DDiS features a revised 1.3-liter turbocharged four-cylinder diesel engine rated at 75-horsepower and 190Nm (80 lb-ft) at 1,750rpm.
The Euro 5 emissions diesel unit is matched to a 5-speed manual gearbox and it allows the new Swift to complete the 0-62 mph (100 km/h) sprint in 12.7 seconds en route to a top speed of 103 mph (166 km/h). Suzuki says it offers an 8 per cent improvement in fuel consumption and produces 9 per cent lower tailpipe emissions than the 1.3-litre diesel it replaces at 67.3mpg UK (equal to 56 mpg US or 4.2 lt/100 km) and 109g/km of CO2 respectively.
In Britain, the Swift DDiS is available from £12,890 as a five door model in SZ3 trim specification, which includes air conditioning, seven airbags, 16 inch alloy wheels, USB port and heated electric door mirrors as standard.
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Renault’s Dacia V6 Sourced from the Nissan GT-R
Following an early reveal on racing driver Jean-Philippe Dayraut's website, Renault today released official photos of its PikesPeak contender, the 850HP Dacia Duster “No Limit”. The name comes from the “Unlimited” class of the Pikes Peak International Hill Climb, which imposes no restrictions on the size or power output of the engine, maximum power or torque. In addition, there are no restrictions concerning the transmission or the aerodynamic characteristics. Looking at the size of the Duster's rear wing, it is obvious the car competes in the “Unlimited” class.
The one-off prototype was built by Tork Engineering (which handled the design, production, assembly and development) and Sodemo (engine), in association with Renault Sport Technologies, which supplied certain components.
Under the glass-fiber skin (the car weighs 950 kg or 2,094 pounds), the Duster “No Limit” features a 3.8-liter V6 engine specially built by Sodemo and based on the Nissan GT-R's VR 38 DETT powerplant. However, instead of the GT-R's 530HP, the six-cylinder unit has been tuned to deliver no less than 850 horses at 7,000 rpm and 900 Nm (663.8 lb-ft) of torque at 5,000 rpm. The engine is linked to a six-speed sequential gearbox specially developed by Sadev.
The man that will drive the monster up the hill is Jean-Philippe Dayraut, three-time Andros Trophy winner and six times French champion in single-seater and touring car racing. He convinced Renault to take part in this endeavour, with the team aiming for a win on June 26, despite the fact that both the car and the driver are facing their first Pikes Peak event.
"The Pikes Peak Hill Climb is the only event where you get to keep a monster like this in check while drifting at speeds of 200 km/h on a course which features a mix of asphalt and dirt," said Jean-Philippe Dayraut. "I can't think of any other
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