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Frequently Asked Questions

What happens to me if I drive without auto insurance? If you are involved in an auto accident and found to be driving without car insurance or proof of financial responsibility, you will be subject to penalties specific to the laws of your state. That could include a fine, or even loss of driving privileges. If you are uninsured and inan accident that involves property damage or injuries to people, you will be required to pay on your own for any damages assessed by a court.
What do I do if I meet with a car accident? First, you need to notify the police. You should also exchange information with the other driver(s) involved in the accident. Next, you should immediately contact your insurance company, and do what the insurance company advises you to do. 
What is Term Insurance and how does it differ from Life Assurance? There are two main types of life insurance policy. Term Insurance pays out a sum if the holder dies during the fixed period of the policy. Life Assurance also offers a lump sum payout to dependents should the policy holder die during the period of the policy, but if he/she survives that period then he/she will receive the payment. Life Assurance is also seen as an important investment option. The payments for Life Assurance are greater than Term Insurance.
Why do different people pay different levels of premium? The amount you pay depends on the level of risk you provide to your insurer. The price you pay for life insurance depends mainly on your age, health, lifestyle, and occupation. So if you are older, have health problems and smoke, and happen to work in a dangerous environment, you will have to pay more for life insurance than someone who is younger, healthier, a non-smoker, and in a low risk occupation.
What is Limited-pay Insurance? Limited-pay life insurance is a type of insurance where all the premiums are paid over a specified period after which no additional premiums are due to keep the policy alive. 
Are the proceeds of life insurance policy taxable? Generally they aren’t subject to income taxes. However, they may be subject to estate taxes such as inheritance tax. Please check with your financial advisor.
How long after filing an insurance claim do you receive the payment? You should expect to receive forms and information in 5 to 10 days. Once the Death Certificate and forms have been returned, payment is usually issued within two weeks.