Do Insurance Companies Ask For Social Security. While your insurance company will need your ssn, your doctor does not. If an auto insurance company asks you for your social security number and you decide to refuse the request, they may ask you for other types of information that will help them prove your identity.
• insurance companies • credit card companies, lenders, and any other company receiving a credit application from you • the three main credit reporting agencies: Almost all life insurance companies require social security numbers for the insured and beneficiaries for multiple reasons. Do you have to give up your social security number?
The Reason The Insurance Company Wants Your Social Security Number Is To See If You Have Coverage Under Medicaid Or Medicare.
Since the affordable care act was implemented, most insurance companies will ask for a social security number before allowing you to enroll in a plan. If you do, the insurance company is entitled to be paid back by your medicaid or medicare for anything they. If youre involved in any type of accident and youre making an insurance claim, the insurance company will ask for information including your date of birth, social security number, and address.
In Fact, Some Insurance Companies May Even Try To Refuse To Provide A Settlement Check Unless They Have A Social Security Number From The Party They Are Issuing It To.
The main reason your social security number is needed for an accurate insurance quote is that most insurance companies use a loss sharing service called clue (comprehensive loss underwriting exchange). This information includes, but is not limited to, name, social security number (ssn) or taxpayer identification number (tin), and the months in which a member had coverage. For the most part, they require this information so they can report it to the internal revenue service.
The Bottom Line Is That This Is Nothing But A Bullying Tactic.
Your social security number is not required to be given to the insurance company, initially. It may also appear that you are trying to falsify your identity. If an insurance agent asks for your social security number in order to check your credit, point out that the contract is invalid if your check bounces or your payment is late.
One Of The Ways That An Auto Insurance Provider Will Use Your Social Security Number Is By Initiating A Credit History Check.
You have absolutely no obligation to give an insurance adjuster your social security number. That being said, providing your social security number, birth date and other similar information on your life insurance application is necessary to the process. If an auto insurance company asks you for your social security number and you decide to refuse the request, they may ask you for other types of information that will help them prove your identity.
The Insurance Company Might Assume You Are Attempting To Hide Issues From Your Past.
That’s maybe internally their company says that they have to have it but there’s no law that says you have to give them your social security number. • insurance companies • credit card companies, lenders, and any other company receiving a credit application from you • the three main credit reporting agencies: But the question that we’ve had customers ask about the most are why life insurance carriers request your social security and drivers license numbers.