Financial JUSTICE
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Yes your family will receive the insurance money. The moment you signed the life insurance application and paid the first month premiums, you are automatically covered. Even if you died a second after, you are covered. |
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Insurance Pickle.com
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As long as the policy was 'in force' you'd be covered. Generally when the agent has the check you're covered (on the condition that the insurance company was going to cover you). |
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Jay
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Worth checking the policy. Typically, they are effective immediately. Some limit payments within the first 30, 60, 90 days. But, in general, finding a policy with full immediate coverage is common.
Suicide, however, is typically an exception. Pre-existing conditions or engaging is risky behavior (sky diving) may be reasons to deny the claim.
But if it was a freak accident, yes, the beneficiaries would receive full payment. |
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JaredBalis
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As long as the policy is in force, the death benefit would be paid. However, there is a suicide clause, usually 2 years. So there may be some exceptions other than that. But once the policy is in force, you are usually covered.
Jared B.
http://www.utahinsurance.org
http://www.healthinsuranceinutah.com
http://www.myinsurancequotes.net |
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Answer Me!!!
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As long as the health exam was passed and the document was signed, yes your family would receive full benefit.
Unless you committed suicide, then they wouldn't pay. |
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hadley2120
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Yes, if you bought life insurance today and you died tomorrow due to an accident the life insurance company would pay.
If you answered all questions honestly on the life insurance application, were approved and accepted for coverage, and paid your premiums, and the life insurance policy was "In Force", the insurance company would pay out the claim - subject to all exclusions and limitations within the life insurance contract.
However, some life insurance plans are guaranteed acceptance which provide graded benefits, meaning full coverage is not available until you have owned the policy for 1-2 years.
There are term life insurance no exam policies that offer instant approval for qualified applicants, and you can start your policy the same day, if you qualify. You can learn more about this type of life insurance at http://www.term-life-online.com
But, if you owned life insurance and died as a result of an accident, the policy should pay out the claim to your beneficiary.
I hope that helps. Best of luck to you.
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The Income Protector
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Yes, except in the case of fraud (on your medical or personal history) or suicide. Even in the case of suicide, the policy would be paid after two years of the policy being in force, in most states. |
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Joe L
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If the death is an accident- yes. There is a contest ability clause which prohibits payment if death is suicide, or as a result of a condition not disclosed in the application. |
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Alison Watz
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Yes your familly will get money, but there many factors when you insure your life. I think that if insurance company thinks that there a risk of heart attact? they not nsure your life |
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Emma F
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As long as the insurance company has received the premium and the policy has been issued the policy would pay. If you bought insurance today, and died tomorrow, then no you would not be covered. Policies have to be underwritten, monies received and the policy issued, for it to be considered in force. |
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askmrknight
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First, you need to ask your insurance rep this question. The reason for that is because all plans are slightly different. Also, each state regulates the insurance companies doing business withn their borders, and may impose legislation dealing with this specific topic.
Having said that, what I am about to tell you is a general answer, not a specific one. Again, you'll have to check with your insurance rep to find out for sure.
Most carriers impose a waiting period for benefits. What that means is that they will impose a timeframe, usually 6 months to a year, whereby benefits would not be paid, if the insured member suffered an insured death condition.
So ask your rep what the waiting period for full coverage is.
Second, you must also be aware of the spcific language of your policy. Most life insurance policies cover you for "accidents," not health related issues regarding mortality. So if you were to suffer a heart attack, too bad. But if you're run over by a bus, fine.
Also, acts of war and acts of God are traditional exclusions to most insurance policies. Let's say you're on the 9th tee and a lightning bolt strikes as you make your upward swing, taking your life. Oops - act of God - not covered.
Lightning, wind, tornadoes, hurricanes, the weather in general, extreme heat, can all be considered acts of God, and not be covered, so it's a good idea to ask your rep what is and is not covered, when you don't know.
You can always take a copy of your life insurance certificate to an attorney for interpretation. They can be most helpful in deciphering what you are actually covered FOR.
In any case, be a good consumer. Read the fine print and the instructions that came with what you have purchased. It is our responsibility as consumers to make sure anything we buy meets with our expectations of performance. If the product or service does not deliver, shop around for one that does.
But do it as a smart consumer. Don't just buy insurance because you need or want coverage. Buy insurance because it will protect you from those things you consider insurable, and cannot live without.
What you'll find is that most of the pollicies being offered at rediculously low prices offer rediculoulsy low benefits in return.
Hope that helps. |
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franklv_1981
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Check your policy and the fine printe. Usually it starts the day you signed and the check is dated and also the postmark will play a role, too. If that really happened, your family will be in for a long fight with the insurance company, in court, etc. It could take years for them to retrieve the money. |
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Irish Sean
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There is typically a six month period following the effective date before the death benefit would be paid.
This is done to avert those considering suicide and purchasing large policies for loved ones. |
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mbrcatz
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Yes, unless you lied on the application.
There's no minimum time you must have coverage in place before they pay, on the STANDARD policy. But on a guaranteed issue policy, it's usually two years.
However, you can't decide to buy life insurance today, and have it in force today. It usually takes several weeks to get it in force. But the day it's in force, if you kick off, as long as you didn't lie on the application, they'll pay out. |
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renee
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how long will i be covered for life insurence after the first payment? |
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