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While many of us understand the basic functions of life insurance, it is not uncommon for problems that arise long after he bought the policy.
To resolve the political problems we are four of us frequently asked questions to help you gain the understanding and control of your life insurance life insurance policy.
Answers to questions
To start the claims, you get a few copies of the death certificate of the insured. If you have problems, have copies of the death certificate from the hospital or the coroner's office, the undertaker should be able to obtain a copy.
Then you need to contact your life insurance agent. Your agent will help you fill out the necessary paperwork to make the request. If you are not sure who was the agent of the insured, you can contact the insurance company directly and someone will help you submit the claim. Do not forget to bring a copy of the death certificate of his agent, because you will need to ensure fast claim submission.
According to the Institute of Insurance Economics of Information (III), in general, there are four ways to distribute the death benefit:
Lump Sum. You get all of the death benefit in a lump sum.
Give a special interest. The insurance company pays the principal and interest on a fixed schedule.
Join life. You will receive a guaranteed income for life. However, the amount you receive depends on your benefit amount, gender and age of the insured at the time of death.
Interest income. The insurance company has the product, but you pay interest on the policy. Therefore, the death benefit remains intact and goes to a second receiver after his death.
Whichever option you choose, you should get some benefits policy after days of filing the complaint. Insurance companies are required by law to pay claims in this way. For more information on the guidelines, under which the insurer must pay a claim, contact Division of Insurance in your state.
Unfortunately, there is no database of life insurance policies purchased. That is why it is very important to know that the life insurance of the insured at any time. However, there are some things that you try to find a lost policy.
You can by trying to start the following set:
Which company would have issued the policy
What police officer would have issued
If the insured person had life insurance through a group of employers, trade unions or other
The I.I.I. you should try this information about you:
To search records, storage space and a safe. Here you will find documents relating to insurance, checks, receipts for payment of premiums or policy announcements.
Contact the legal and financial advisors of the insured. Current and former consultants have some information on the life of the deceased.
Contact the employer of the insured person (s). Former employers and / or current can tell you if the policyholder is a life insurance group.
Review of tax returns. During the review of previous tax returns, interest income or you can pay a life insurance company.
Checking the mail. Although the policy is enabled, the insurance company will send an annual bonus or a notice of dividends in respect of the policy.
Check north of the border. If there is a possibility that the policy was purchased in Canada, please contact the Canadian Health Insurance Company at (800) 268-8009 or visit their website.
Querying the MIB. While there is no database to purchasers of life insurance, there is a database for life insurance applicants. For $ 75, you can use the MIB, and rarely worth (MIB is about one-fifth of the action is), it may be worth a try.
If this does not result in not finding a lost policy, contact your agent, a lawyer or a financial advisor because they may be time sensitive.
In general, if you have a life insurance policy, do not pay your premiums in the lead expiration policy, which means that the policy canceled and you will probably not see a product of politics.
If you have a permanent life insurance policy, says the III have one of the following options:
Treasury policy. If you pay, you stop paying the premiums and collect any amount of money available. However, if the sum of the cash surrender value is more than what you paid the premiums, this money can be raised.
Indeed. "Reduced paid" an option available to you so that you. Longer pay full premiums lower death benefit and no cash savings You may also be able to convert a permanent policy extended run time.
Policy expired. If you want to choose your policy lapse rates of the police, you should be able to get his recovery. Some insurance companies you can do if you do within five years after its expiration. However, recovery can undergo on its ability to undergo a medical examination and pay the overdue premiums back plus interest from.
If you fall from grace, do not forget to contact immediately to achieve with your life insurance agent to reach an agreement. Depending on the situation, it is usually best not to let a completely permanent policy expires, you can use the cheap that if you had bought the life insurance lose.
About InsureMe
Megan L. Mahan is a writer and insurance information expert with InsureMe in Englewood, Colorado. InsureMe links agents nationwide with consumers shopping for insurance. Specializing in auto, home, health, long term care and life insurance quotes, InsureMe network provides thousands of agents with insurance leads every year. For more information, please visit InsureMe.com
To resolve the political problems we are four of us frequently asked questions to help you gain the understanding and control of your life insurance life insurance policy.
Answers to questions
How can I apply for life insurance?
To start the claims, you get a few copies of the death certificate of the insured. If you have problems, have copies of the death certificate from the hospital or the coroner's office, the undertaker should be able to obtain a copy.
Then you need to contact your life insurance agent. Your agent will help you fill out the necessary paperwork to make the request. If you are not sure who was the agent of the insured, you can contact the insurance company directly and someone will help you submit the claim. Do not forget to bring a copy of the death certificate of his agent, because you will need to ensure fast claim submission.
How do I receive the death benefit?
Once the life insurance application is submitted, you must decide how to provide the life insurance agent.According to the Institute of Insurance Economics of Information (III), in general, there are four ways to distribute the death benefit:
Lump Sum. You get all of the death benefit in a lump sum.
Give a special interest. The insurance company pays the principal and interest on a fixed schedule.
Join life. You will receive a guaranteed income for life. However, the amount you receive depends on your benefit amount, gender and age of the insured at the time of death.
Interest income. The insurance company has the product, but you pay interest on the policy. Therefore, the death benefit remains intact and goes to a second receiver after his death.
Whichever option you choose, you should get some benefits policy after days of filing the complaint. Insurance companies are required by law to pay claims in this way. For more information on the guidelines, under which the insurer must pay a claim, contact Division of Insurance in your state.
What should I do if I can not find the policy?
Unfortunately, there is no database of life insurance policies purchased. That is why it is very important to know that the life insurance of the insured at any time. However, there are some things that you try to find a lost policy.
You can by trying to start the following set:
Which company would have issued the policy
What police officer would have issued
If the insured person had life insurance through a group of employers, trade unions or other
The I.I.I. you should try this information about you:
To search records, storage space and a safe. Here you will find documents relating to insurance, checks, receipts for payment of premiums or policy announcements.
Contact the legal and financial advisors of the insured. Current and former consultants have some information on the life of the deceased.
Contact the employer of the insured person (s). Former employers and / or current can tell you if the policyholder is a life insurance group.
Review of tax returns. During the review of previous tax returns, interest income or you can pay a life insurance company.
Checking the mail. Although the policy is enabled, the insurance company will send an annual bonus or a notice of dividends in respect of the policy.
Check north of the border. If there is a possibility that the policy was purchased in Canada, please contact the Canadian Health Insurance Company at (800) 268-8009 or visit their website.
Querying the MIB. While there is no database to purchasers of life insurance, there is a database for life insurance applicants. For $ 75, you can use the MIB, and rarely worth (MIB is about one-fifth of the action is), it may be worth a try.
If this does not result in not finding a lost policy, contact your agent, a lawyer or a financial advisor because they may be time sensitive.
What if I can not pay my life insurance premiums?
Economic difficulties can fall any. If this happens and you can not pay the premium for your life insurance, you should know what to expect.In general, if you have a life insurance policy, do not pay your premiums in the lead expiration policy, which means that the policy canceled and you will probably not see a product of politics.
If you have a permanent life insurance policy, says the III have one of the following options:
Treasury policy. If you pay, you stop paying the premiums and collect any amount of money available. However, if the sum of the cash surrender value is more than what you paid the premiums, this money can be raised.
Indeed. "Reduced paid" an option available to you so that you. Longer pay full premiums lower death benefit and no cash savings You may also be able to convert a permanent policy extended run time.
Policy expired. If you want to choose your policy lapse rates of the police, you should be able to get his recovery. Some insurance companies you can do if you do within five years after its expiration. However, recovery can undergo on its ability to undergo a medical examination and pay the overdue premiums back plus interest from.
If you fall from grace, do not forget to contact immediately to achieve with your life insurance agent to reach an agreement. Depending on the situation, it is usually best not to let a completely permanent policy expires, you can use the cheap that if you had bought the life insurance lose.
Do not let your unanswered questions!
If you have questions about your life insurance, it is always a good idea to talk with an insurance agent. To get there is a new update and state-specific information, your life insurance if you do not have surprises on the way!About InsureMe
Megan L. Mahan is a writer and insurance information expert with InsureMe in Englewood, Colorado. InsureMe links agents nationwide with consumers shopping for insurance. Specializing in auto, home, health, long term care and life insurance quotes, InsureMe network provides thousands of agents with insurance leads every year. For more information, please visit InsureMe.com
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