If I undo an online Insurance policy (AD&D), shouldn't I capture a discount of my premiums since I didn't use it?
How much can it cost to keep hold of an insurance policy on files?
Answers:
Insurance is a odd form of gaming. Consider the state lottery, if you hold one. If you bet $1, you're betting a small amount that you'll receive rich. The state is betting a LOT of money that you won't. The state usually win.
For insurance, you're betting a short time bit of money that you'll carry dismembered or die. The insurance company is betting a LOT of money that you won't. They're pretty protected because they know you don't really want to receive dismembered or die. (Hence they don't money sour for suicide because that's approaching rigging the lottery.)
Like the lottery, or laying a bet table, the money you compensate is flawless for one bet, one turn of the reins, one ticket. In insurance, the money you pay cheque is upright for a spell of time.
You don't attain your money posterior because you threw away your ticket, or you walk away from the table previously the bet be finished. Nor do you take your premiums rear because you didn't requirement the insurance payout. BUT... the insurance company is still liable for your coverage for that time spell.
So, the upright word is, if you want to permit THEM out of liability for the remaining time, they're usually pretty well-mannered nearly refund the UNUSED time remaining on your policy.
For the time that's already passed? Sorry, you bet that you'd achieve dismembered or die. You lost. So to speak.
maybe but doubtfull and if yes, just for the time departed on the policy - not the entire amount
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Investment bank?
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Answers:
Insurance is a odd form of gaming. Consider the state lottery, if you hold one. If you bet $1, you're betting a small amount that you'll receive rich. The state is betting a LOT of money that you won't. The state usually win.
For insurance, you're betting a short time bit of money that you'll carry dismembered or die. The insurance company is betting a LOT of money that you won't. They're pretty protected because they know you don't really want to receive dismembered or die. (Hence they don't money sour for suicide because that's approaching rigging the lottery.)
Like the lottery, or laying a bet table, the money you compensate is flawless for one bet, one turn of the reins, one ticket. In insurance, the money you pay cheque is upright for a spell of time.
You don't attain your money posterior because you threw away your ticket, or you walk away from the table previously the bet be finished. Nor do you take your premiums rear because you didn't requirement the insurance payout. BUT... the insurance company is still liable for your coverage for that time spell.
So, the upright word is, if you want to permit THEM out of liability for the remaining time, they're usually pretty well-mannered nearly refund the UNUSED time remaining on your policy.
For the time that's already passed? Sorry, you bet that you'd achieve dismembered or die. You lost. So to speak.
maybe but doubtfull and if yes, just for the time departed on the policy - not the entire amount