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While some life insurance companies may decline to extend coverage to a high-risk individual, other companies may offer a policy at a higher premium or offer a policy with an exclusion if death ...
If you file the claim properly and provide all the necessary documents, you will typically receive the death benefit payout of a life insurance policy within a month. However, there are rare ...
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 settlement or viatical settlement (from Latin viaticum, something received before death) [1] is the sale of an existing life insurance policy (typically of seniors) for more than its cash surrender value, but less than its net death benefit, [2] to a third party investor. [3]
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.
Protective Life Insurance Company was founded in 1907 and paid its first death claim in 1909. In 1927, Protective merged with Alabama National Insurance Company, and Alabama National's president, Samuel Clabaugh, became the president of the combined companies which continued to do business as Protective.
Life insurance policies work by providing a death benefit to the named beneficiary when the insured passes away. The policy owner, who is often the insured, chooses who the primary beneficiary or ...
U.S. Life insurance companies are required by state regulation to set up reserve funds to account for said over-payments, which represent promised future benefits, and are classified as Legal Reserve Life Insurance Companies. The Death Benefit promised by the contract is a fixed obligation calculated to be payable at the end of life expectancy ...