0
The answer, disregarding local legal variations, should be yes. Most companies have a x day exclusion window, where the policy will not be in effect, x typically being 30-90 days.
Again, however, there are other factors to consider, such as local law, company policy etc etc.
Always read the policy. And no, suicide will not pay out.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Can you collect cash from your life insurance?
If your policy has a cash value associated with it you can get money for surrendering the policy. Term Life has no cash value, but a whole life or universal life policy may have a cash value in it. That depends on what type of policy it is, how long it has been in force, and assuming the payments have been made.
Is there a tax on money received from life insurance if paid to the insured?
The only case where the insured can collect on their life insurance is with a whole life policy. In that instance any interest or dividends are taxable.
How do you claim your father life insurance after his death?
I need to report my father's death and collect on his life insurance policy.
Person who receives money from a life insurance policy?
Beneficiary
Can you get money from your life insurance policy?
You can get money from life insurance in the form of maturity benefit and death benefit (the later being paid to the nominee).
Can debtors collect from a deceased's life insurance policy?
I think you mean "creditors," those who are owed money. Debtors are the ones who owe the money. In Texas, the proceeds from life insurance policies are exempt if a dependent is named as the beneficiary. Otherwise, the funds are not exempt. Of course, the creditor must know about the policy to collect from it.
Can you collect cash from your life insurance?
If your policy has a cash value associated with it you can get money for surrendering the policy. Term Life has no cash value, but a whole life or universal life policy may have a cash value in it. That depends on what type of policy it is, how long it has been in force, and assuming the payments have been made.
How does one get a free life insurance?
You can get free life insurance from the company MassMutual insurance. It is a term life policy so you will have to die before your kids can collect the money.
Can a inmate collect money from a life insurance policy?
Yes, even if incarcerated, you will still receive proceeds from a life insurance policy if you are the valid recipient. They will not be able to receive the proceeds if they were the cause of the insured's death.
Can your ex still collect on an old life insurance policy if you die?
it depends how they died
Is there a tax on money received from life insurance if paid to the insured?
The only case where the insured can collect on their life insurance is with a whole life policy. In that instance any interest or dividends are taxable.
Can you collect on a life insurance policy if divorced from the deceased?
You can only collect on the life insurance if you were awarded this at time of divorce. I was awarded the ability to take out a life insurance policy on my ex. as I receive a military retirement which only exists if he is alive. After his death, it would stop, therefore I have the life insurance policy.
Can you collect from a Gerber life insurance policy after you turn 21?
Gerber life insurance policies typically require you to be the policyholder to make claims. If you are the insured of the policy, you may be eligible to collect benefits, regardless of your age. It's best to review the specific terms of your policy or contact Gerber Life Insurance directly for assistance.
Can you collect life insurance on someone declared incompetenet?
Probably not unless the insurance company decides to allow it or it was a provision in the life insurance policy. Normally, people are not able to collect on their life insurance policy until the insured dies.
Your husband died and had no beneficiary on his life insurance policy how do you collect the money?
You may need to be appointed the fiduciary of his estate because the proceeds will be paid to the estate. You should contact the insurance company for their policy regarding a situation such as yours.
What if you had life insurance policy with university life insurance co of America?
Incomplete question, what about the policy? How to collect, is it is force, value, some specific question about it.
Can you collect on a life policy if the person has a stroke before the policy is two years old?
Read the wording on the policy. A normal life insurance policy would pay as long as all the answers on the application were given truthfully and there was no undisclosed pre-existing conditions. If the person had purchased one of the guaranteed issue or TV policies then no. These policies guarantee issue but require you to be insured for a period of time (usually 24 months) before coverage begins. The reason for this is that by 24 months you will have paid a premium that almost equals the policy benefit.
