Can Life Insurance Refuse Payment After The 2 Years Suicide Clause Expires? Contrary To Public Belief, I've F?
Question by robot b9 | Posted in Religion & Spirituality
Can Life Insurance refuse payment after the 2 years suicide clause expires?
Contrary to public belief, I've found that the laws of most states and the policies of most life insurance companies only exclude suicide benefits for a 2 year period.
If hypothetically a customer was to purchase a policy with the expressed purpose of committing suicide in 2 years, could the insurance company refuse to pay?
This is for my actuary paper, not a personal question!
Answer: The two year exemption is there to prevent someone from taking insurance with the intent of killing themselves. You would be hard pressed to find someone who planned to kill themselves more than two years down the road. So, unless the company is able to find proof that the policyholder did this, which they would be unlikely to even look for, they would not be able to refuse payment.
Did You Know That The Company You Work For Might Have A "Dead Peasants" Life Insurance Policy Out On You?
Question by Josh | Posted in Other - Society & Culture
There are many United States laden companies that are forking over $8 billion in life insurance policies every year, that are meant to cover sickened, soon projected to be dead, and terminally ill people.
An example of these companies: Walt Disney; Proctor & Gamble; Winn - Dixie; Nestle; Wal - Mart; Bank of America and American Express, have taken out such life insurance policies and these companies are expected to reap in billions of dollars for taken out such life insurance policies.
Why is this a problem? Well, that's because the companies take them out on individuals without the persons knowing of such activity. Families of such victims are never told
Answer: This is not a new practice. It is not limited to the corporate world. It is not limited to the United States.
I Would GREATLY Appreciate Advice Regarding Life Insurance & A Stubborn Husband?
Question by kygirlflgirl | Posted in Personal Finance
I would REALLY appreciate anyone w/ life insurance (or stubborn husband) experience!!!
I am 38 and my husband is 49. My husband is the sole income provider of our family.
Since our first child's birth, I have tried to discuss with him the importance of planning for our deaths. Our oldest son is 15, and he still refuses to have a Will drawn up. Also, he refuses to purchase term life insurance on us both in the proper amount according to our famincome.
He is normally a very thoughtful and extremely responsible person. I know his lack of planning is due to his inability to deal with his own mortality.
I have continued to express concerns re: our lack of planning
Answer: Go through the worst case scenario on your own (figure out what would happen financially to you if he died, to him if you died and to your children if you both died).
Show in great detail how if he died you would have to sell the house, get a job and live in a very cheap apartment (in a crappy part of town). Show that the children would have borrow $ to go to college.
Show in great detail what would happen to him if you died (now need to get care for the children while he works, etc.).
Show in financial detail what would happen to the children if you both died.
When approaching him about it, start with the case of you dying
Is AARP Reputable? Do You Know Of A Better Life Insurance Company?
Question by Simba | Posted in Insurance
Besides the fact that I am still grieving for my husband who passed on January 22, 2010, I have been consumed with concern about another issue in which I would like to obtain knowledge. Does anyone know if AARP is reputable for their benefits specifically their life insurance policy. I don't want to start paying premiums and then have my 2 sons find out later that they don't/won't pay for the remainder of my funeral expenses. I don't even know how it works. If I were to start paying premiums and died after just 6 months or a year or more would I be covered for the full amount? Is there another life insurance company that anyone has or knows about that's better? I need to get this straightened
Answer: Shop around ... talk & listen to several agents including independent agents.
Sorry for your loss but plan ahead for YOUR needs and wishes.
If you are healthy, get a whole life or universal life policy (there are several kinds of universal life)
If you have a health issue, there are *Guaranteed Issue* policies usually up to $10,000 in death benefits. However, with these policies, if you die in the first two years (generally), your heirs will only get back the premiums that you paid in plus some small interest. You can also purchase more than one policy.
Bottom line: talk to several agents and talk about your needs.
How Long Should It Take For An Insurance Company To Pay On A Life Insurance Policy?
Question by olampyone | Posted in Insurance
On 18 may my wife passed away. She had a life insurance policy with mutual of omaha through her work. I submitted all the necessary paperwork that her work instructed me to and had sent to me. 0n 2 June. On 28 july I was informed that the insurance company had lost this paperwork and her work sent me more paperwork to fill out of witch I did. They also requested another certified copy of her death certificate being the first one sent was lost. I complied with these instructions that day. I also have serious concerns about the original documents and there true whereabouts. So, how long should I wait before expressing further concerns.The date of this question is thursday August, 20 2009 Thank
Answer: I can't speak for anybody else but my company pays claims within 5-10 business days following all requirements being received. What is happening with you isn't right and I think you need to follow up with them, speak to their corporate relations area and maybe file a complaint if you don't receive sufficient action from the company. Sorry for your loss, and I agree with you that this is bordering on ridiculous.
Life Insurance :Ace Cash Express Locations | Life Insurance Blog
by admin
Of course, there are a great number of ACE Cash Express locations Article Content :. Do you know how to find nearest Ace Cash Express locations and corporate offices in your area including in Indianapolis, Houston, Irving TX, Arlington, San... To find Ace Cash Express locations, it is suggested to find such site that offers ACE Cash Express locators...
With the launch of Advantage Elite Select, Minnesota Life also will introduce Express Issue, a streamlined process allowing clients to purchase life insurance in a matter of days. It is available on policies for $250000 or less, offers a three- to
With the launch of Advantage Elite Select, Minnesota Life -- Securian Financial Group's largest subsidiary -- also will introduce Express Issue, a streamlined process allowing clients to purchase life insurance in a matter of days.
ACCRA, Ghana, Apr 24, 2012 (BUSINESS WIRE) -- LeapFrog Investments today announced the largest private foreign investment in the history of Ghana's insurance industry, acquiring a majority stake in the Express Life Insurance Company.
On his part, Ebou ML Jammeh, marketing officer at Capital Express Life Assurance, said their main focus is to provide scholarship and create employment to help Gambian students who have just completed their Grade 12. He added that they are also
UPMC Health Plan joins a prestigious group of prior winners including New York Life, Capital One Financial Corp., and American Express. UPMC Health Plan won the ICMI gold award for large contact centers, which recognizes call centers that make a
ACCRA, Ghana, Apr 24, 2012 (BUSINESS WIRE) -- LeapFrog Investments today announced the largest private foreign investment in the history of Ghana's