Difficulty: Moderately Easy Instructions
Contact the insurance company you want to purchase life insurance from. There are many guaranteed acceptance life insurance companies in the insurance industry. You may need to search for a company online, but your local life insurance broker or agent may also have access to impaired risk carriers. These carriers may insure you, even if you have health problems that have kept you from getting insurance in the past. These policies are generally whole life insurance and may be more expensive in terms of premiums than if you were to buy ordinary whole life and go through full underwriting.
Fill out the life insurance application.
It is more common than you think for a beneficiary to get a denial letter after filing a life insurance claim. That’s at least according to a new press release from Pennsylvania life insurance law firm, Lassen Law Firm, that explains that life insurance companies regularly deny claims – and for a lot of simple reasons.
We often think that once we purchase a life insurance policy, all of our family’s problems are solved. They won’t have to worry about money once we’re gone and we can rest easy knowing everything will be taken care of after obtaining life coverage.
However, this is not necessarily true.
11 Jan
Posted by Admin as Insurance Tips
Chris C 11:05 am on January 13, 2010 Permalink
Term life insurance typically expires at age 80 or 85 depending on the company (in Canada anyway). If a policy doesn’t expire at 80 or 85, it’s probably a whole life policy…don’t confuse the 2 like many people do.
Other than that, technically the insurance coverage ‘expires’ when the policy holder dies or stops paying the premiums.
Most term policies automatically renew without medical evidence when the 5, 10, 15, etc year term expires, so it’s more of a renewal than an expiration. You should get