Life insurance can pay out relatively quickly if there are no suspicious circumstances. The beneficiary can choose to have a lump sum or they can elect to receive an annuity, which can offer a certain sum periodically for a set number of years or indefinitely. There are no taxes. Sometimes people buy life insurance for the beneficiary to actually pay inheritance taxes for large estates.
Auto insurance depends on the state where the accident occurs. Different states have different insurance statutes. For instance in Calif, if you have insurance, you have MedPay. Your own insurance pays your bills for medical, if it was someone elses fault when you settle up, the at fault party's insurance company reimburses your insurance company and gives you a sum of money. In Oregon, their medical is called PIP-personal injury protection, and it is similar to the MedPay, but also includes a provision for lost wages. Settlement works the same as in Calif. The not at fault driver's insurance company is entitled to be reimbursed for the expenses they pay out on behalf of their insured.
I've never worked in a hospital, but I would think that with the person being in peril, that medical treatment would be rendered regardless of the age of the person.
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Date: 2011-03-20 02:47 am (UTC)Auto insurance depends on the state where the accident occurs. Different states have different insurance statutes. For instance in Calif, if you have insurance, you have MedPay. Your own insurance pays your bills for medical, if it was someone elses fault when you settle up, the at fault party's insurance company reimburses your insurance company and gives you a sum of money. In Oregon, their medical is called PIP-personal injury protection, and it is similar to the MedPay, but also includes a provision for lost wages. Settlement works the same as in Calif. The not at fault driver's insurance company is entitled to be reimbursed for the expenses they pay out on behalf of their insured.
I've never worked in a hospital, but I would think that with the person being in peril, that medical treatment would be rendered regardless of the age of the person.