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If you are not working with an agent for the company that issued the policy, you need to locate one. An agent can effectively explain what your options are.

What you can change about the policy, and if any changes are possible depends on what you want to change, and who you are in relation to the policy. The owner may be able to change the beneficiary. The owner may be able to change the type of policy (typically called a "conversion" if the policy permits it). The contract may allow other changes. But it's a complex legal document. Find an agent to explain what you've got and what options are available.

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โˆ™ 2011-06-01 17:20:58
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Q: Can you change a life insurance policy?
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Who can legally change the beneficiary on a life insurance policy?

The Insured can change the beneficiary on a life insurance contract.


What is needed to do to change a beneficiary on a life insurance policy if they have passed away?

Contact the insurance company and request a change of beneficiary form. They will mail the form to the policy owner. You fill it out and mail it back to the insurance company so they can update your life insurance policy.


Is a signature reuired to change the beneficiary on a blanket life insurance policy?

Yes. A signature is required to make any changes in a life insurance policy.


How do you change ownership of a life insurance policy if the old owner died?

Change of ownership is not allowed in life insurance policy. Once the policy holder dies, accrued sum is payable to the nominee and the matter ends there. In that case, you are to take policy afresh.


Does a will affect life insurance proceeds?

A will does not normally change a life insurance policy. The policy is a contract between the insured to pay a beneficiary. If the policy leaves the money to the estate, the will then controls the dispensation.


Can you cash in a life insurance policy that is paid up?

If you have an old life insurance policy can you cash it in for cash value


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Can a life insurance company give anyone your policy number or change information if you are the owner of the policy?

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Dose the amount life insurance change after a certain age?

A change in the amount of life insurance provided by your life insurance policy is determined by the coverage you have. A permanent life insurance policy usually provides the same amount of life insurance protection for your entire lifetime, as long as you pay the premiums. A term life insurance policy lasts for a temporary period of time. Usually, term life policies are issued for 1-30 years. A 10 year term life insurance policy provides protection for 10 years. if you outlive your policy term, the coverage expires. A level term life insurance policy provides coverage and premiums that remain the same each year for the entire term of your policy. A decreasing term life insurance policy provides premiums that remain the same each year, but the amount of life insurance decreases each year until the end of your policy term. There are other term life insurance plans that may provide less coverage after a certain age, or your policy term expires after a certain age.


Can a power of attorney change a beneficiary on a life insurance?

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Does homeowners insurance pay off your mortgage if one of the homeowners dies?

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What is the rule of purdentual Ins on who can change the benificery?

Prudential Insurance is a global 500 hundred company for selling life insurance. The only person that can change a beneficiary on a policy is the policy owner.


What is another word for whole life insurance?

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Is permanent life insurance the same as whole life insurance?

Technically, there is no insurance policy called as permanent life insurance. However, you can treat whole life insurance policy as permanent since the policy covered the whole life span of the policy holder and benefit is payable to nominee in the event of any eventuality of the policy holder.


What are the disadvantages of a Modified whole life insurance policy?

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