International travel can have implications on various aspects of our lives, including life insurance coverage. Understanding the potential impact of traveling abroad on life insurance claims is essential for policyholders. In this article, we will explore common provisions, limitations, and questions surrounding international travel and life insurance claims. Notifying the Insurance Company: One crucial step […]
Your husband, who recently passed away, was married once before. After filing a claim for life insurance benefits through his employer, you find out that his ex-wife has also filed. It may be unclear who is entitled to benefits. After all, the final judgment of divorce states that your husband was to keep the same […]
Under state law, an adopted child in your family has all the rights and benefits of a biological child. Those benefits include the rights of inheritance in most cases. However, complications may arise regarding life insurance benefits. An outdated policy may only name your other children as beneficiaries. Or, your policy may name children from […]
In recent years, accidental death coverage has become popular. This is generally available in two different forms: Standalone accidental death and dismemberment life insurance. This policy pays benefits if the insured dies in an accident or loses a limb or extremity. A policy of this type typically costs less than life insurance covering death from […]
In the past, life insurance policy claims were handled simply enough. Once the life insurance company received the proper documents, it sent a check to the beneficiary, who cashed or deposited it at his bank and used the proceeds as he wished. Today, it’s more likely that a life insurance beneficiary—we’ll call him Charley—would receive […]
Once upon a time—and not that long ago, either—the U.S. life insurance industry was very weakly regulated. The results were what you would probably would expect: shady insurance agent using high-pressure tactics, badgering customers into buying high-priced policies from disreputable (or nonexistent) companies that would never pay a claim. Things have become a lot better […]
Is the life insurance company withholding benefits from you? The incontestability clause is one of the strongest protections for a policyholder or beneficiary. While many other rules for insurance seem to favor the companies, this rule soundly sides of the consumer. Life insurance is a contract between two parties: the insurance company and the policyholder. A […]
Some employers provide a wide spectrum of benefits for their employees. While retirement accounts and health insurance policies get most of the attention, today we’ll be talking about another job benefit: life insurance. Often, corporations will buy life insurance policies to cover key employees as a way to protect their own interests; the corporation collects […]