Anyone can buy a life insurance policy on anyone, but the insurance company may request a medical examination of the person.
Yes, you can out live your Insurance Policy. When the amount of the premium paid equals the face amount of the policy (the death benefit), the policy matures and you get all your money back.
If it is term life insurance then not really. If you out live the policy you lose everything you paid into it.
Endowment Insurance policy is life insurance. Life insurance is very important to have, especially if you have a family or kids. If anything should happen to you, you would want to know that your family could live comfortably without your income.
A live insurance company is a company that holds a "life insurance" policy on a person. The policy is taken out by a person and fees are paid. And, if for some reason the person's life ends, the policy is paid out to the beneficiaries as long as the death was not done on purpose.
Life insurance is a policy people take out to ensure that their family receives a pre decided amount in the event of sudden death or loss of income.Life insurance is means protection and security under financial crisis.There are mainly 5 types of Life insurance policy. Term insurance is the most basic one. If something happens to you,your nominee will be paid a lump sum amount, and ensures that your family can live with the same standard of living as before.In Endowment policy, a periodic sum is received as premium every month and a lump sum amount in case of sudden death.There are many other insurance policies like Money Back Life Insurance Policy,Group Life Insurance and Unit Linked Insurance Plan that can benefit you. Many insurance companies like Max Life Insurance ,icici prulife offers best insurance policies.
If you cash in the policy then yes it will not pay the death benefit because you have cancelled the policy.
Mu uncle found an old live insurance policy and was wondering if it was worth anything/ Policy number is 272892
The policy holder has the choice to change the name of the beneficiary at any time, including after the death of a named beneficiary. If the policy holder doesn't change the name of the beneficiary after the beneficiaries death, depending on what state you live in it goes to next of kin.
One can estimate how much you would have to pay for a life insurance policy by attempting to calculate how much your family will require to live. You would also need to take in several other factors such as debt.
No!! Just be added to their policy