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Discover what happens if you’re not honest on your life insurance application.
Accidental death and group life insurance: These policies often exclude deaths involving drugs or alcohol. If the insured was under the influence at the time of an accident, the claim might be ...
Using the NAIC Life Policy Locator, you can submit a request with the legal name, date of birth, Social Security number and date of death for the deceased person to find a life insurance policy or ...
As more and more insurance amendments can be performed online or over the telephone, identity theft has become an enabling crime that can lead to the amendment of life insurance terms to benefit a fraudster; for example, by adding a second stolen identity as a new beneficiary. [37] Life insurance fraud may involve faking death to claim life ...
The state of Missouri had in place a series of legislative acts in the period of 1874 and 1889 that basically created a condition on any life insurance contract in which though medical history information may be inaccurate, if the inaccurate information had no bearing on the manner of the deceased's death then any claim must still be paid. If ...
Stranger-originated life insurance ("STOLI") generally means any act, practice, or arrangement, at or prior to policy issuance, to initiate or facilitate the issuance of a life insurance policy for the intended benefit of a person who, at the time of policy origination, does not have an insurable interest in the life of the insured under the laws of the applicable state. [1]
A life insurance death benefit claim can sometimes be denied based on specific exclusions written into the policy. One common example is an aviation exclusion, which could prevent a payout if the ...
A life insurance trust is an irrevocable, non-amendable trust which is both the owner and beneficiary of one or more life insurance policies. [1] Upon the death of the insured, the trustee invests the insurance proceeds and administers the trust for one or more beneficiaries. If the trust owns insurance on the life of a married person, the non ...