Call the insurance company and speak with somebody in the claims department. If your parents had an insurance agent, the agent may also be able to assist in the process.
i trying to find out if my father who is deceased have a policy
In Whole life policy, insurance claims are entertained in case of any eventuality of the policy holder during the tenure of the policy period only, like term assurance policy.
Obviously the claim will be entertained in case of sudden death of the policy holder in whole life policy.
Unlikely as the term polcy is for specific termand whole life pays out on death. The actuaries who set the premiums at the outset of the policy use mortality rates when the policy is taken out. To convert to a whole life policy would mean ia complete reevaluation which is not cost effective for the insurer. You could make term policy paid up and take out whole life policy but its best to take independent advice.
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.
Straight whole life is a whole life policy that provides a constant level of protection and level premiums throughout the life of the policy which is until death of the policyholder or age 100 as long as the premiums are paid. Limited pay whole life is a whole life policy in which premiums are paid for a set number of years at which the policy is considered paid in full. i.e. a 20-pay policy in which premiums are paid for 20 years and coverage is good for life. The shorter the period for premiums the higher they will tend to be. Single premium whole life is a whole life policy in which one substantial single premium is paid at the beginning and from that point on the policy is considered paid in full. This premium gives it an immediate cash value. Straight whole life Limited pay whole life Single premium whole life
A major disadvantage of a modified whole life insurance policy is that you can never change the face value on your policy. Additional coverage would require the purchase of an another policy. Also the growth potential on your policy is limited.
yes you do you have to be passed away and a whole process to become a saint
A term policy that can be converted to a whole life (or other) policy.
The only disadvantage is the higher cost compared to a term policy.
If it's a whole life policy, there is no specific maturity date. Please check if your policy is a whole life one.
Government Owned Life Insurance Corporation of India's New Jeevan Anand Policy is at present the best insurance policy in India, which is a mixture of endowment and whole life policy, which is indeed novel and unique in the whole world.