It would be whatever the death benefit is on the policy unless the death was due to pre-existing conditions or if the insured lied on the application in which case a return of premiums is all that the beneficiary would receive.
A product policy is a set of rules on how a product or service is promoted to consumers. A product policy would generally contain information about the product and how it would benefit the target audience.
Face value and death benefit are essentially the same. Commonly, the death benefit will be the same as when it was issued, regardless of the impact of changes in the economy ( inflation ) or the number of years since it was issued. The face value may be increased if the policy earned dividends - this will be stated in the policy - and they chose to have them remain with the policy. If the dividends were paid out to the policyowner each year when earned, then the original face value remains as the death benefit. The amount paid out as the death benefit will be decreased by any loan taken, plus interest, and any outstanding premium due. Of course, if she stopped making premium payments, the policy may not have been inforce on the date she died. As many relatives find out when their loved one dies, simply having a copy of the policy doesn't guarantee that any benefit exists. Again, with all insurance policies, a rep from the insurance company issuing the policy would be the best person to speak to on the policy.
If a person dies in a manner not covered by the policy, there would be no payout.
I would not benefit the person if It was stolen in the first place.
If the policy was still in force and the insured has died, then yes, the insurance company would owe the death benefit. If the policy was cancelled or surrendered, the company would not owe anything.
The Excluded person would have no coverage under the policy. That person would have to have had their own separate policy or there is "no" coverage.
Pennsylvania says you would receive at least 50% of your weekly benefit, but check out the Related Link below, under $65.111 "Benefit Table, 'Determination of weekly benefit rate'
As long as the death occurred outside of the 2 year suicide clause and the policy was in force than the benefit would pay.
Predecease means you die before them, which would mean they get the money as you wished. If they die before you, the secondary beneficiary gets the money. It may revert to your estate at that point if no one is named. Your policy should have the specific clauses as to what and how succession happens.
If you bought the policy in 1952, and have been paying on it ever since......Or, if it is a paid up policy (just accruing interest all this time), then generally you can cash it out, as long as you are the owner of that policy. However, doing this will terminate the policy, and should the insured person dies, no additional benefit would be paid. Feel free to contact me via my profile for more information, or email email@example.com