Archive for the ‘Life Insurance Claims, Collecting, & Cashing Out’ Category.

Faking Death: A Growing Insurance Scam?

For a select group of individuals, working hard for a living is too difficult. These fraudsters would prefer to “get rich quick” through more devious and expedited means. Faking their deaths, they collected hundreds of thousands of dollars in life insurance and lived happily ever after — almost. These insurance thieves were nabbed in the […]

What Are The Options For Life Insurance Settlements?

Usually, a life insurance policy will provide you, the policyholder, with more than one option in addition to your beneficiary receiving a single lump cheque or even a chequebook instead of a single lump check. Another option is to provide the beneficiary of the policy with the right to receive monthly payments for the rest […]

Are There Different Ways Life Insurance Benefits Can Be Received?

When collecting a life insurance policy, one must decide what you would like for the proceeds of the policy to accomplish. The proceeds of the policy are many times referred to as the death benefit. Is the death benefit, simply designed to bury the deceased and pay off a few final debts, or is the […]

If I Die Unexpectedly, How Can I Protect My Family And Cover The Mortgage Payments Using My Life Insurance Policy?

There are specific life insurance policies that you can purchase that will cover your remaining mortgage, should you die before your home is paid. These policies are separate policies from your normal life insurance and can be based on the balance of the mortgage. By basing the premiums on the balance, you will see your […]

Can I Defer Receiving Benefits From a Life Insurance Policy?

Immediately after, the death of a loved one is certainly not a good time to make financial decisions, especially major ones. A few of the major life insurance companies have finally listened to the life insurance customers and advisors regarding this issue. The advisors are those that usually deal with the ones that are grieving […]

I Am Making a Life Insurance Claim, Can The Company Refuse Me?

Some people purchase life insurance in order to help their family members, or other loved ones to receive some money after their passing. Generally, a life insurance is paid. However, there are situations when some companies may refuse to pay the claim. This does not happen often. There are times, however, under some unusual situations […]

Can a Debt Collector Obtain Life Insurance Policy From The Deceased?

Policy owners do not have to worry about records concerning who is beneficiary because life insurance companies keep watch over the records. With this in mind remember, usually there will be no concern for who is entitled to the money should someone die. Life insurance usually does not go to debt collectors. For this reason, […]

What’s the Difference Between “Projected” and “Guaranteed Rates”?

Life insurance is a sales job.  Projections mean nothing.  Guaranteed rates mean everything.  Remember, a projection is just that: a hoped for outcome, not a guaranteed payout to you. Your life insurance company is not necessarily obligated to pay exactly what they say they will on a projection. There are numerous things that can affect […]

Can Life Insurance Benefits Be Contested With Certain Events?

Benefits can be contested during certain events, such as children of the deceased, suspected murder of the policy holder, and all beneficiaries are deceased. 1. If all beneficiaries are deceased, this will create problems concerning who gets the money. Arguments can arise from this type of situation, especially if other relatives become involved. If children […]

Who Can Take Out A Life Insurance Policy On Me?

If anyone you know would like to take a life insurance policy out on you, the insurance company will first need to verify that you agree to the policy. After the agreement has been established, the person taking out the policy will be required to explain the reason they wish to take out such a […]