Posted on 03/24/2015 1:41:16 PM PDT by knarf
All the ads I get say .. 125% of premiums in first two years
The life insurance ‘contestability period’: 7 things to know
http://www.insure.com/life-insurance/life-insurance-contestability.html
I have accident insurance through the school board, but not if I die of cancer (f'rinsatnce) .. and it's of of those .. one arm, one eye, one testicle kind of policies
I have no life ... whole or otherwise and all the data I receive state the policy does not pay in the first two years (for any reason of death) but on the third ... the face amount
My question is .... does a policy exist that will pay the face in the first year ?
Sorry, JimRob for wasting freep time
An Accidential Death or Disability policy, perhaps?
all the data I receive state the policy does not pay in the first two years
I have seen that in my policies only for sucide. Otherwise, they have a right to contest to show possible items left off the original paperwork. Are you sure it is no payment in any case for two years?
so far ... yes ... the 2 yr exclusion seems to be with all of them
Maybe, Obamalife, which you can sign up for after you’re dead, so long as you vote democrat in perpetuity.
In general, insurance companies have 2 years to determine if any fraud took place, as well as an incorrect age statement.
Having worked in the life insurance industry since 1976....No, all life insurance policies will have a two year period in which any claim would be contestable by the insurance company for a death claim. This is to discourage/prevent fraud or misrepresentation being made in the application process.
Since you worked in the biz do you remember a company by the name of Prime America? I believe I bought a 20yr term back that long ago & it did not have that condition in its policy.
Hey!
That was very helpful!
Some important myths busted in there!
Thanks!
I guess you are safe since you lived past the 2 years.
:)
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