0
What happens to your life insurance when you are no longer employed?
Wiki User
∙ 11y ago
If the life insurance was provided by your employer and your employment is terminated, you will lose the life insurance protection. You should look into individual life insurance, which you can take with you if your employment terminates.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What happens if life insurance policy is canceled?
You no longer have insurance cover - if you happen to die then there is no payment made.
What are some affordable life insurances for the self employed?
There are many companies offering life insurance policies to self employed individuals. SunLife, Aetna, and Manulife are just some of the insurance companies which have affordable life insurance coverage one can purchase.
Employee life insurance benefits from Clark Equipment?
I would like to know about Life Insurance on my husbanc, Wm. Bravender. He was employed by Clark Equipment in Buchanan.
What happens to your Employee Group Life insurance investment after you retire from employment?
What happens to your Employee Group Life insurance investment after you retire from employment
What is the best health insurance for self employed people?
You could try healthinsuredirect.com which is an easy site to get heath insurance from. Not only will it cover you being self employed but it also covers other situations to such as: Short Term Health Insurance, Life Insurance, Child Insurance, Individual or Family plans!
If a life insurance policy owner dies what happens to the policy?
if the owner of a life insurance policy dies and the policy is on her son. What happens to the ppolicy and is it part of the estate.
When is life insurance part of net worth?
Life Insurance goes to a beneficiary, not an estate. Unless the beneficiaries are no longer living.
What happens to the proceeds of a life insurance policy if there is not a named beneficiary?
The life insurance benefit will be paid to the deceased's estate.
What happens if a life insurance policy fails to meet the federal definition of life insurance?
loss of tax treatment
Life Insurance Quotes For Self- or Under-Employed Workers?
Life insurance companies are happy to provide quotes for life insurance policies covering the self- and under-employed. Comparisons can be made by determining how much life insurance the insured needs to cover their obligations in the event of their death, and then shopping over the Internet for companies who can provide that amount of coverage at an affordable price. Obtaining a life insurance quote for self-employed, under- employed, and even unemployed workers has never been easier. It so happens that many self- or under-employed workers in America go without life insurance. Who are these people? Self-employed workers are those who run a business as a sole proprietorship or independent contractor or as a member of a limited liability company that is not treated as a corporation. These folks are freelancers, contractors, business owners and may in fact be employers of other workers. To be self-employed means you do not work for another person or corporation. Under-employed workers are those who are working either in part-time positions or in positions that pay drastically less than the worker would receive if they had a regular full-time salaried position. Under-employed workers are often involuntary or voluntary part-time workers who do not receive full company benefits the way full-time workers do. Under-employed workers can also be workers who are employed full-time for part of the year, thus enduring unpaid chunks of time in between job positions. Unemployed workers are those people who are often in charge of caring for children or elderly parents in the home. These workers, while unpaid, still need basic life insurance. If that unemployed person were removed from their family by death, the responsibility and cost of caring for the children does not immediately end with their death. If another parent remains, the children will still need care and without the support of the unpaid home care giver, the remaining parent will be forced to either leave their job or pay for child care. In many cases, the self-employed and under-employed do not have and do not qualify for corporate paid life insurance. Depending on the worker's family and financial situation, this can be a very dangerous situation. The self- employed and under-employed workers of America with financial obligations or familial obligations, such as a spouse or dependent children or elderly parents, have a wide variety of life insurance options available to them now. Many workers in America – even those likely to remain employed for large corporations – don't rely solely on their corporate life insurance benefits. Many choose instead or in addition to carry life insurance outside of their company's provided life insurance policies for those times when they may be in between other jobs, laid off, or taking a leave of absence. Self-employed and under-employed workers can do the same.
Victory life insurance going by now?
According to the OpenCorporates website, The Victory Life Insurance Company was dissolved and is no longer in business
What is the difference between life insurance and term life insurance?
Life insurance is a more general concept that may refer to either whole life insurance or term life insurance. Whole life insurance gathers value the longer you have it, whereas Term life insurance does not obtain any value that you may use before you die. Term life insurance only pays out when you die.
