Archive for the ‘Life Insurance Ongoing Maintenance & Changes’ Category.

Should I Switch My Term Insurance With Life Insurance, And If So When?

I was told that switching term every so often with life insurance would allow me to take advantage of the company’s rates, is this recommended? Switching term with life insurance every couple of years may help you get the best rates. However, the cost you are saving may not be worth the switch. If you [...]

Will Moving To A Different State Affect My Life Insurance Policy?

With life insurance, moving to another state will generally not affect your policy as opposed to an auto insurance policy. On the other hand, if you move to another country, your life insurance policy could be affected. If you move to a country with more violence and other war-like activities, your life insurance rates may [...]

Are You Missing Paid-Up Life Insurance Policies, How Can I Locate Them?

The first step in locating paid-up insurance policies is to find any evidence of the policy’s existence. For example, search for any canceled checks, receipts, and old policy payment books that will be aiding in ascertaining the name of the life insurance provider and the policy number. It may be beneficial to check the local [...]

What Are Your Options When You Can’t Afford The Premiums To Your Life Insurance Policy With A Cash Value?

In these difficult economic times, many people can not afford the premiums for their life insurance policies. When a life insurance policy has a cash value, there are several options available to the policyholder. One of the most common and often automatic options is for the insurance company to extend term life insurance. The cash [...]

Is It Possible To Receive A Refund on My Life Insurance Policy?

There is a “free look” period in most states which allows life insurance policyholders to receive a refund on a newly purchased policy. The “free look” period was established to allow life insurance policyholders ample time to review policy details. Usually a refund is available within 10 days of receipt for a new policy and [...]

If I Forget To Make A Payment On My Insurance- Do I Lose My Benefits?

If I forget to make a payment on my insurance- do I lose my benefits? There is generally a grace period on your life insurance policy that allows you time to catch up on missed premiums. On most policies, that grace period is usually 30 days. If a payment has not been made by the [...]

When Can A Life Insurance Company Cancel A Policy?

The insurance company is legally obligated to abide the terms of the policy, which was offered by the insurer and accepted by the customer. Certain exceptions apply. Usually, a contestable period of one or two years exists as a clause in the policy. If the insurer discovers that the policyholder has provided substantially false information, [...]

What Happens To My Life Insurance Policy, If I Become Disabled or Unemployed?

If you become unable to pay your life insurance premiums due to disability or loss of work, there are a few options that may help. First, many insurance policies include a temporary waiver of premium payments in the event of temporary unemployment or disability. You should check your policy to see if you can invoke [...]

If I Move To A New State, Is It Possible For My Life Insurance Company To Void My Policy?

Absolutely not. Your life insurance company cannot void your policy if you move, regardless of whether you move out of state or not. There are certain requirements on life insurance policies. The policy must conform to the laws of the state that it was issued in, and even more so than that, it must conform [...]

Can You Receive A Life Insurance Refund?

For many people these days, money is very tight. The last thing that you want or need right now is to toss more money out of the window. Therefore, you need to know what happens if you pay your life insurance premium and then decide to cancel the policy. You want to know if you [...]