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What happens to life insurance when you leave a job? Does your employer end coverage when employment is terminated? Not necessarily and not without notice. Read on to find out what your rights and responsibilities are regarding employer life insurance after retirement, or when you are fired, quit, or leave employment due to disability. How … Read more
Common Life Insurance Exclusions Include Substance Abuse and Suicide Top Reasons Life Insurance Claims Get Denied An important piece to any life insurance policy with which one should become familiar is the policy’s exclusions. Exclusions in a life insurance policy are provisions that set forth certain situations in which the life insurance company will not … Read more
Traveling Abroad? Your Life Insurance May Still Cover You Is life insurance valid if you move abroad? Once a person purchases a life insurance policy, one naturally presumes that coverage is in effect and return to their daily lives as such. Just like any other legal agreement, however, insurance policies contain a lot of fine print … Read more
Life insurance provides financial security for policyholders and their families. However, maintaining these benefits requires timely payment of premiums. When payments are missed, the policy may lapse, leading to a loss of coverage. Understanding what causes a policy lapse and its repercussions is crucial to ensure continued protection. In this post, we’ll go over what … Read more
Is a drug or alcohol overdose considered an accidental death? Will life insurance payout when the insured died due to accidental drug overdose or alcohol poisoning? Sometimes. Insurance policies will differ in definitions of “accidental death,” and state law handles definitions of ‘accident’ differently as well. Additionally, there is nuance when the overdose is from … Read more
Can you have too many insurance policies? There is no law against having multiple insurance policies, life insurance or otherwise. The downsides to having multiple policies have to do with additional costs and hassle of keeping up with multiple policy payments. Why should you have more than one policy? Spread the Risk Additionally, since different … Read more
Yes. You always should name multiple beneficiaries on a life insurance policy. Why? Read on to find out. What is a Beneficiary? When taking out a life insurance policy, the policyholder must name one or more “beneficiaries” who will receive the death benefit if the insured passes away while covered by the policy. Policyholders have multiple options … Read more
If you’re someone who uses drugs or has a history of substance abuse, the prospect of securing life insurance can evoke a unique set of concerns and challenges. You likely worry — can a life insurance claim be denied for drug use? It’s a legitimate fear that we’ll cover in this blog post. We’ll discuss … Read more
Can Life Insurance Companies Deny a Claim? At first glance, life insurance seems like a fairly simple process. The policyholder applies for insurance with a specified death benefit, and, after he or she dies, the beneficiary or beneficiaries will receive this benefit in full. However, this is not always the case. Insurance companies will frequently … Read more
When someone purchases life insurance, he or she must have an “insurable interest” in the insured. This means that the policyholder, i.e. the person who owns the policy and names the beneficiary or beneficiaries, will suffer financial loss if the insured dies unexpectedly. It is important to remember that this sort of relationship only needs … Read more
