If an insurance company doesn't have the money to pay out, what good are they?
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To pay the insured in cases they have to file for compensation. Ya know? Isn't it illegal and fraud to insure someone, anyone without having the money to back it up?
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Answer:
What company are you talking about?
A63AXK2WJOZRA2N2LYBODVZK4U at Yahoo! Answers Visit the source
Other answers
If the company is a legal reserve company, you don't need to worry about it. If the company fails, the other insurance companies foot the bill. That being said, if you have a cash value policy with a company that fails, you loose the cash value but keep the insurance.
Richie Rich
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