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 [...]
Archive for the ‘Life Insurance Claims, Collecting, & Cashing Out’ Category.
It affects your life insurance very minimally after an initial waiting period, and after that, suicide is treated as any other form of death. The suicide clause is this: during a certain initial amount of time of holding the policy, suicide does not count as death and is not covered by the policy; however, after [...]
The short answer is yes, it is completely possible. A word of precaution, in the case of a grandchild who is a minor, it might be preferable or smarter to have the proceeds paid to a trusted person instead of directly to the child. This should be a person that you trust to use 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 [...]
Insurance companies can pay you, the policyholder, in a number of ways. They can also pay the beneficiary in a number of different ways. It varies from insurance company to company and by the type of policy a person holds. Also, remember that a life insurance settlement is different from a viatical settlement. Viatical settlements [...]
Your life insurance policy may have what is called an accelerated death benefit provision. You may be eligible for those benefits, if you are diagnosed with certain medical conditions. You are diagnosed with AIDS. You are in need of an organ transplant. You are being placed into nursing home care. Not all insurance companies have [...]
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 [...]
What is life insurance cash value build-up? Life insurance cash value build-up is money that accumulates over the life of a person’s policy. The purpose of this is so that the insured can borrow or cash out, if they need it to pay for whatever they might need it for. Life insurance cash value build-up [...]
There is no need to worry, if you cannot find the policies. A great deal of information is kept online and in other places nowadays, and things can be tracked down quickly. The time when you lose a piece of paper could destroy your plans, is over. Not only do they keep track electronically of [...]
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 [...]