Secret Waya to Reclaim a Missing Life Insurance Policy

Life insurance is the ultimate security to your family in the event of death. Though,there are some shortcomings that might hinder your beneficiary from getting the proceeds. If you are a beneficiary to a policy holder who has passed away and the life policy is lost, Later on you discover the missing life insurance policy; do you think that you are still entitled to get the benefits?

The answer is yes, provided that you discovered it within the time frame of six months to one year the holder of the policy died.

But, you have to know the type of policy the insured bought, whether it is a term policy or a permanent life policy; also you have to find out if he is update with his premium before his death. If he did not default in premium before he died, you will receive your premium in term life insurance policy but if he has outstanding premium to pay before his death you're not entitled to anything because the policy has expired prior to his death.

If it is, you're entitled to the benefits if the policy still existed by the time of his demise, i.e. he is update in his premium. Mind you, if the death was recent, you're entitled to the benefits and also the interest accrued to it starting from the time of death. Therefore, to establish your claim you have to equip yourself with all the necessary documents that shows evidence of payment, else the insurer might deny payment on the grounds of proof.

However, keeping to these instructions will help the beneficiary to receive the death benefits easier and avoid these rigorous processes when you have died.

Feel free to discuss with your family or beneficiary about your life insurance policy, though many a time policy holders are not comfortable to discussing this issue but it helps at the long run.

Arrange all documents concerning your life policy in a particular place to avoid your beneficiaries from searching all the corners of your house at time of your death.

But, in a situation the policy holder did not adhere to the above, you the beneficiary can resort to the following;

Inquire from those who may possibly be aware of the of the policy holders transaction, like his confidants, personal lawyer or doctor.

His place of work before his death may also be useful because of group life insurance scheme which most employees benefit from their employers or through supplementary life insurance.
Search through the policy holders used checks to see if you can any made payable to an insurance company.

You can also check his mail file for at least one year, because policy conditions and bills of premium are usually sent on annual basis to the policy holder. You can conduct more searches from any angle you think of, for tangible information.

In conclusion, it is better for you to disclose to your family or your beneficiary information about your life policy than to leave them in excessive searches and confusion in other to access your policy documents. The essence of life policy is to benefit your family when you're no more, why not disclose to them so that they can have easy access to your death benefits rather to become a missing life insurance policy.

Term Life Insurance - Your Best Insurance Option

Basically, there are two types of life insurance policy which you can confidently insure your life, whole life and term life insurance. Term life policy is generally cheaper compared to whole life, but many are unaware of this fact. Every business man has the intention of maximizing profit, that been the case term life policy is your best option.

A term life policy can generate surplus income on yearly basis binging you extra dollars to make an investment. You should know that most insurance companies are usually cautious when investing your funds, many likes this while some choose a risky but a golden business opportunity. The fact remains that you are better placed with a term life insurance policy.

Charge

Term policy has a high cost advantage above whole life insurance Many a time, the annual cost of term insurance is very minimal compared to same policy in whole life coverage, thereby given you a lot of comparative advantage. To be explicit, you can get a term policy for $120, 000 to cover a period of ten year term which is invariably cost about twelve dollars monthly. The same facts which are considered when buying a term life is also same that is considered for whole life policy like age, occupation, smoking, health, family history etc, while term premium is relatively cheaper.

Investment.

As you have comparative gain in term coverage annually, therefore, you can channel your money to any business venture of your choice rather than allowing the insurance company to manage your fund. Therefore, by personally managing your fund you can be more liberal in engaging in business ventures and make more profits because the insurance companies are usually very conventional in investing policy holder's money.

Flexibility.

With little money you can buy 10, 20, or 30 year short term plan. More so, you can decide the particular stage of coverage this could give. That means that term policy has a great height of flexibility, and also nice investment plan for its investors.

There is no need to advance funds to cover your mortgages even on expiration hence it has been totally paid for. You may choose to take a policy that will cover your children during their infancy hence they will fend for themselves at full age.

Finally, term life insurance has a wide range of benefits you can take advantage of over whole life policy. Why spending much money on whole life coverage when you can get the same security cheaper and still manage effectively your reserved fund? Take up a term coverage today and make triple benefits in future.

Do You Consider Cheap Life Insurance Policy to be Beneficial to Your Family?

The main reason why you buy life insurance policy is to plan for the future in case death occurs unexpectedly. That been the case, you need to consider to what extent will your death gratuity or benefit sustain your family with regard to its size? Bearing this in mind will help you to know whether a cheap life policy is beneficial to your family.

As you grow older your premium also keeps rising due to the death liability the insurance company is assuming on your behalf. Therefore, considering cheap life coverage demands you to get rid of some of your present life insurance policies. To do this you need to take some vital decisions for issues that borders on life is not just a cheap life policy.

Let me inform you, if you're a young man, presently working maybe married to a stay home wife and your kids are still in their early education stage, don't think about cheap life insurance policy. Because, if you happen to die prematurely, your death benefit will definitely not afford your survivors a good living pending their attainment of full age, which means your intention of buying a life policy is certainly lost.

Conversely, if you spouse is working and children have all attained majority age to effectively provide their needs, then you are better placed to assess your present life insurance policy and probably reduce some needless policy costs and opt for a cheap life coverage hence you have lesser responsibility.

.Before you consider cheap life insurance policy, you have to overview accurately the purpose for which life coverage can help your family on the event your demise. But principally your death benefits ought to take care your children tuition fees, cost of your funeral, payment of estate taxes and for the procurement of basic necessaries.

If you know that cheap life policy cannot afford all you need for your insurance security, go for where you will be adequately protected rather than not disclosing material fact to reduce the cost of insurance. The insurance company can at the long run repudiate liability on the ground of non-disclosure of material facts. Find out the track record of the insurance company to know whether they have series of cases the borders on payment of death benefits so that you can be sure business excellence.

Finally, the intricacies associated with cheap life insurance policy is much, in all the importance of life policy is to enable your survivors receive your death benefits when you have passed away. Do all you can to secure it.

Exactly How Much Do I Need to Buy a Life Insurance Policy?

Death is inevitable to human beings, you need to protect your family in case of your sudden unexpected death; this is the subject matter of life insurance. Therefore, bearing this in mind you ought to know that life coverage is very essential to you and your family.

The most important thing you should consider is the actual cost of the indemnity, which I know that it is about $500 annually, for a normal life policy. But for real people, the basic cost worth's nothing to them, rather they are focused to the benefits of their investment at the long run.

When you make up your mind for a life policy, the first thing that comes to your mind is what do you use it for and what type of insurance coverage will suit your purpose? There are basically two types of life insurance: Term life insurance and whole life insurance.

Term life is very simple because you are betting that you might not live long, then the longer you live so the more you continue to pay without any increment. You only achieve something better if you don't live long and did not also default on the payment of your premium.

Whole life insurance has a better investment plan though is more expensive. As you pay your premium, your beneficiary is entitled to your death benefits and cash payout. While you keep living longer so you attain higher level of a better cash value of the policy. This policy is often used by investors as a replacement form of asset because it is used as collateral for loan acquisition. It comes in various forms with different income rate according to the worth of your investment.

If you want to protect the your family and wards on the event of your passing away, whole life policy is the most ideal for you because, you can have long time plan for them by investing a sum that can keep them going for a reasonable time.

Finally, I will advise you to buy life insurance that carries an investment plan for it will be a great relief to your in future. But if your present financial situation cannot afford you a whole life policy then term life insurance is your next option to at least cover your burial and other minor expenses.

Life Insurance-Your Sure Way To Live After Death

Life insurance is an unpleasant issue for one to remember or to discuss. Do you know that this is the majority opinion of the people? Although, this might be people’s notion but the fact is that you need it and everyone needs it. Life insurance coverage has wide range of choice but, oftentimes it is faced with intricate options. It will be nice to let you know how to make a good decision on the best life insurance option that gives you comfortable protection.

What will you gain from a life insurance policy? The essence of life coverage is to give or assure financial support to your dependants on the event of your demise. Therefore, it is very necessary for you as someone who has dependants to ensure that you buy a life policy. In a situation you’re an unmarried Youngman without any dependant on your earnings you are not under obligation to take life coverage unless you choose to do so.

However, if you have carefully articulated those earning their living via your income, you can then choose a life policy that will give you enough security amidst of various types.
Term life, whole life, universal life and variable life insurance are the basic type’s life insurance.

The main advantage of term life policy over the others is that it is relatively cheaper, apart from that, it gives the best value and policy option for many people. It doesn’t have provision for you to redeem cash value that you have advanced into the policy prior to its expiration. Conversely, universal, variable and whole life policies are referred to as cash policies. This is because their investment plan and benefits makes cash provision for you on retirement.

Apart from the fact that term life policy is cheap compared to others, choosing it solely depend on you and your purpose of buying the policy. If you are looking for a life and future investment financial plan, whole life insurance is the best policy for you. But opting for a life coverage that will give you a good security and conserve your income, term life coverage is ideal for you.

By the time you have settled on the type of coverage to embark upon, you ought to have carefully examined the level of dependence on you. For you to accurately determine this, the age of your children, tuition fee, your funeral cost, mortgage payments and procurement of necessaries to your children will give you an exact figure of your dependency ratio.

In conclusion, life insurance policy is principally designed to secure yourself incase of unexpected death, therefore, if whole life policy is costly, then buy a term life policy it will give you the best coverage that suits you and your family.

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