by viju.chandran » Thu Apr 12, 2012 06:41 am
Hi,
Please explain the meaning of life-insurance run off. Also what are the implications of it and what methods are usually followed to handle a run-off.
Thanks
Please explain the meaning of life-insurance run off. Also what are the implications of it and what methods are usually followed to handle a run-off.
Thanks
Posted: Fri Apr 13, 2012 10:18 am Post Subject: Run off insurance
There is no insurance product termed as life insurance run-off. There is however run off insurance.
Run off insurance pays for the future losses of a company after it ceases to exist or operate. It pays for the claims made after the termination date of the business. The time period for run off coverage is usually fixed at 6 years at least, and the claims filed only within the pre-determined time period, get paid for.
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