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

What Happens If You Forget Or Become Unable To Pay Your Life Insurance Premium?

If for one reason or another, an individual forgets or is unable to pay their life insurance premiums, they do not have to worry too much. Should they be able to prove that they are still healthy, they can pay any back and the current amount that is owed to their insurance company. The insurance […]

How to Handle Complaints Regarding Your Life Insurance Policy

When something goes wrong with a life insurance plan, things can get very unbalanced. This can cause a great deal of stress not only for your family, but for you as well. There is nothing worse than the feeling that your family will not be taken care of in the matter of your untimely death. […]

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 […]

Can I Purchase A New Life Insurance Policy And Cancel My Current Insurance?

Canceling a life insurance policy should only be done, if you can get a new policy that either costs less or better meets your needs and goals. The benefit of purchasing a new policy is that you can often get better rates, even if you are considerably older than when your original policy was purchased, […]

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, […]

Who Can You Turn to if You Have a Problem With Your Life Insurance?

My insurance agent was not able to help me resolve the problem I had with my life insurance, is there anyone else that I could turn to for help? If your insurance agent was not able to help fix a problem you had with your life insurance, you can take further action. The next thing […]

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 […]

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 […]

What is the “Cost Disclosure” of a Life Insurance Contract?

The Department of Insurance requires the insurance companies to provide a cost disclosure form with the life insurance contract. This is the form that outlines all of the costs and fees that the consumer will be paying for the policy. It is meant to give a standardized measure of the insurance coverage. Once the disclosure […]

Should I Cancel My Life Insurance Policy After Retirement?

As you age, the need for insurance becomes less in many cases. Mortgages are paid, children leave home, and college educations have been taken care of for everyone. Many people have found they have other options to cover any expenses after saving and investing all their lives. For these, and other personal reasons, they drop […]