Can The Beneficiary of a Life insurance Policy Claim the Money?

Yes, the beneficiary of a life insurance policy can claim the money from the death benefit of a life insurance policy.

In fact, only the beneficiary may make claim for a death benefit, if the beneficiary is alive to make a claim.

In order to claim the money as beneficiary you must be named as a beneficiary in the life insurance policy, and the insured person must have died while the coverage was In Force and the premiums paid up to date.

Learn more about Can the beneficiary of a life insurance policy claim the money?

Have You Been Denied Life Insurance Coverage?

If you’ve been denied life insurance, you may be wondering why that happened.

There are many common reasons for being turned down for life insurance, including your age, health, occupation, high risk hobbies, or poor credit history.

However, even if you have been denied life insurance, you may still be able to get insured.

Some insurers specialize in covering high risk applicants, and they may offer guaranteed issue life insurance plans.

Learn more about Being Denied Life Insurance Coverage.

Can Life Insurance Expire?

Yes, a life insurance policy can expire.

However, you may be able to choose a policy duration (term) of 10, 15, 20, 25 or 30 years.

Term life plans provide temporary coverage lasting for a set period of time, usually up to a maximum period of thirty years.

If you are alive when the term life insurance expires, the coverage ends.

You may have an option to renew your policy for another term of 10 years or less, if you still need coverage.

Learn more about Can a Life Insurance Policy Expire?

Life Insurance for Funeral Expenses

Does Life Insurance Pay for Funeral Expenses?

Yes, the death benefit from life insurance can be used to pay for your funeral expenses.

When buying a life insurance policy, you select a beneficiary, and that person may use the death benefit proceeds from your life insurance to pay for your funeral.

Life insurance for funeral costs provide the security your family needs, when they need it most.

Learn more about buying life insurance to pay for funeral expenses.

Term Life Insurance for Family

Term life insurance offers the most affordable life insurance protection, lasting for a period of up to thirty years.

You can purchase term life coverage on yourself, your spouse or partner, and on your children. 

You may be able to add coverage for your children to your own term policy, through the process of adding a rider for child coverage, for which you pay an additional premium.

Learn more about buying term life insurance for your family.

Term Life Insurance Exclusions

Are there any causes of death that are excluded by a term life insurance policy?

Yes, there are several exclusions in a term life policy, included but not limited to the following:

Suicide if it occurs within the first two years you are insured (one year in some states).

Illegal Activity.

Dangerous Activity.

Act of War.

Aviation.

These are some of the more common types of exclusions that would be stated in an insurance contract providing term life insurance coverage.

Learn more about term life insurance exclusions.