November 5th, 2007 | 
Author: 
Tracy T asked:
If I purchase life insurance today, term life insurance today but die tomorrow, will my family receive the coverage amount?
I have NO INTENTIONS WHAT SO EVER in commiting *******. I’m trying to find life insurance for a 52 yr old woman who spends a lot of time in the hospital.
Scotty Mank
If I purchase life insurance today, term life insurance today but die tomorrow, will my family receive the coverage amount?
I have NO INTENTIONS WHAT SO EVER in commiting *******. I’m trying to find life insurance for a 52 yr old woman who spends a lot of time in the hospital.
Scotty Mank
Posted in Uncategorized
great question. If you made the first premium payment, and you died, your family would be financially awarded. However, it is important that you read your policy provisions. Everything you need to know is in your provisions.
If you are thinking of commiting ******* or something, though, it would not be covered. Be sure to also read your EXCLUSIONS, or what the company WONT pay for.
If you ARE planning on committing ******* like the other person said- DON’T DO IT.
Please.. for me? (:
Yes and no, different states have different rules regarding ******* death, accidental etc., but yes if you purchase a policy and an agent binds your policy you would be covered
ie: Bought your policy, you are driving home and die in a car accident then yes, so long as the policy would have been issued. If you misrepresented your health etc it might be denied. Get clarification from your agent.
it depends. you would have to either be approved for the insurance and have paid enough premium to pay the policy current, or the policy must already be inforce and the premiums paid. as stated above, there is a 2 year ******* and contestability period. this means that during the first 2 years of the policy, the company will not pay the proceeds if your death is a result of *******. the policy will also be contestable during the first 2 years meaning the insurance company has the right not to pay the claim if they feel that the application and other information submitted at the time of application was not true.
as long as you were truthful in the information that you provided at the time of application, you’ve paid all premiums required, and you don’t commit ******* in the first 2 years, then there should be no problem in the company paying out the proceeds to your beneficiary. you may want to review your policy in detal for restrictions or contact your agent or the insurance company directly.
the process is more or less like this:
1. You submit an application
2. Medical tests and records are obtained by the insurance company.
3. A few weeks later, you’re told that you’re approved or denied. If approved, you’re told what your premium is.
4. You submit a premium check to the agent.
At that moment, you’re covered for all insurable events. (Suicide is excluded for up to the first 2 years. Thereafter, death by ******* is covered.)
It looks like a non easy cracking nut,looking around here ,you may find something useful for you.
lifeinsurance.awardspace.info – try this one. I have their insurance and, as remember, they can provide such a service.