<%@LANGUAGE="VBSCRIPT"%>
<%
option explicit
%>
<%
dim rsArticles, sSQL, gStr
set rsArticles = server.createobject("adodb.recordset")
rsArticles.cursorlocation = 3
sSQL = sSQL & "SELECT TOP 10 Articles.Article_ID, Articles.Article_Title, Articles.Article_Excerpt, "
sSQL = sSQL & "Articles.Article_Content, Articles.Article_Posted, Articles.Article_Comments, "
sSQL = sSQL & "Articles.Article_Images, Categories.Category_ID, Categories.Category_Title, Users.User_ID, "
sSQL = sSQL & "Users.User_Name FROM FB_Users AS Users INNER JOIN (FB_Categories AS Categories "
sSQL = sSQL & "INNER JOIN FB_Articles AS Articles ON Categories.Category_ID = Articles.Article_Category_ID) "
sSQL = sSQL & "ON Users.User_ID = Articles.Article_User_ID WHERE Article_Status = 1 AND Article_Level = 0 "
sSQL = sSQL & "ORDER BY Article_Posted DESC;"
rsArticles.open sSQL, adoConn
Do While Not rsArticles.EOF
gStr = gStr & "
" & vbCrLf
rsArticles.MoveNext
Loop
%>
<%=gStr%>
Paid-up policies
If the policy holder can no longer afford to pay the premiums he may request that the policy be converted into a paid up policy. Some polices may convert to paid up when the policyholder reaches a certain age. Only policies with a surrender value can convert into paid up policies.
The paid up value is based on the number of premiums already paid. The sum insured will reduce to a paid up sum insured and any future bonus would be reduced accordingly.
The life office will require a written request to convert the policy to a paid up policy.
Assignments
This is a transfer of ownership of the policy from one person to another. This often happens with life insurance policies and it is important that the life office keep track of the ownership of the policy and the assignments that have occurred. Assignment may be permanent or temporary and can confer an absolute interest or a limited interest.
The various types of assignment are listed below.
- Absolute assignments by way of sale or gift.
- Assignments by way of mortgage.
- Assignments by operation of law on bankruptcy.
- Assignments to trustees.
Joint ownership
Assignments can be to a single legal entity or to more than one assignee. If more than one assignee then the assignment must make it clear how the assignment operates. There are two basic types of joint ownership in the English Law and these are joint tenancy and tenancy in common.
Under joint tenancy the policy is held by both parties and when one dies the sum insured is paid to the surviving other party. Under common tenancy the interest of one party is passed to that party’s estate if they die.
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Policies of Insurance Act 1867