When i reach retirement i plan on leaving the country USA (My relatives live overseas). If i have a whole life insurance policy does it still cover me even though i am out of the states? Does it pay my beneficiaries upon my death?
Answer: lifeinsurance.awardspace.info - try this one. I have their insurance and, as remember, they can provide such a service.
Does Having Been To A Country That Is Risky To Go To A Life Insurance Liability?
Question by nadhuss | Posted in Insurance
If you are signing onto a life insurance policy just before travelling to a country that has a travel warning against it and mention it to the insurance company, will it cause your premiums to be increased? For example, Pakistan has a travel advisory against it. When someone mentions they are going to Pakistan for a month before signing papers for a policy, it could be sending a signal that this person is in a higher risk class to the insurance company. Mortality is a key factor in determining premiums. Health factors are included.
This is referring to Pakistan. An opinion on this is needed.
Thanks
Answer: Yes; foreign travel exclusions or premium ratings are quite common, especially into the middle east.
Should I Buy A Life Insurance Policy Before Leaving The Country?
Question by cmaechilders | Posted in Insurance
I am going to study in Poland, Germany, and China for an MBA program. I will be gone for almost 11 consecutive months. My parents have asked me to purchase a life insurance policy for a couple thousand dollars. Isn't that weird, or am I just over-reacting? I am only 22 years old. Why would I need a life insurance policy for a couple thousand dollars?
Answer: Most life insurance applications asks:
"In the past two years, have you traveled or resided, or plan to travel or reside outside the U.S.?"
The reason for this question is that it puts you and the insurance company at additional risk.
If you answer this question "Yes", your policy will probably be rated up, or depending on the company, it could be declined.
If you are dishonest, and say "No", if you should die while overseas, the company could contest the claim, if the policy is in within the two-year contestable period at time of death.
Some insurance companies, though, will issue smaller
Life Insurance On Deceased Wife In Another Country.?
Question by Bushies | Posted in Insurance
I married a woman with a sickness to help her out and now she is deceased. She died in another country. She had life insurance while she was here in the US, but I have no check stubs or any statements. Her family in the other country do not want to give me the insurance information. Can I a) Find out where she has insurance and b) Lay claims on any of the insurance when I do find out even if I am not listed on the policy, but I am her husband?
Answer: If you know the name of the insurance company, you can check with them to see if the policy was still valid as of the time of her death.
Regarding second part of the question - insurance policies are automatically paid to the beneficiary listed on the policy. They are not considered as part of the 'estate' of the deceased, and, husband or not, you have no claim on the funds disbursed to any beneficiary.
Does Life Insurance Cover You When You Are Out Of Your Home Country?
Question by Me | Posted in Insurance
If I move overseas will my life insurance still cover me there?
Answer: To answer your question, yes, your life insurance will remain in effect while you are overseas.
However, life insurance has what is called a contestability period that lasts for two years. In that period of time the insurance company can contest the death benefit if they can establish that you withheld information that would have made them deny coverage. The company could try to establish that you knew you were heading to a war zone and you withheld that information. On the other hand if you are taking a vacation in Italy or France the company would be hard pressed to prove that they would have not issued your policy.
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New Delhi: The country's life insurance penetration decreased in 2010-11 from a year ago, although non-life insurance penetration rose marginally, Minister of State for Finance Namo Narain Meena said in the Rajya Sabha on Tuesday.