Life Insurance FAQ:

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New question in Life Insurance FAQ

New question in Life Insurance FAQ:What are the common illness or medical condition a person can be declined with such regular life insurance application?Some of the illnesses include a recent diagnosis of cancer, stroke, heart attack, uncontrolled diabities, high blood pressure or cholestrol. Insurance companies like to see illnesses are stable. Applicants with serious health issues may want to investigate Simplified Issue plans. These plans have a shorter series of health questions ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:My husband and I have been paying into a life insurance policy for just about 10 yrs now, & it is coming up for renewal. We have it basically for our mortgage, anyway, I have found out that I have hep C and have a few questions. We wanted to do a new policy so we have something afterwards, like after age 75, so if we redo a new one we have to do a health test. My hep C is just there, it is not making me sick or anything like that, but we are not sure what ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:When a blood test is done what are they testing for? Drugs? medications? medical conditions? The insurance company tests for a variety of things. Including blood sugar level and cholesterol. They can also test for drugs Read more questions and answers about Life Insurance FAQ.
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:Hello I'm looking for life insurance policy in Canada that: 1) Requires no medical exam, 2) Can be paid up in 10 years or less and, 3) May be purchased without going through a broker. Thanks for your help Thanks for the question. In term of a no medical life insurance options. You can choose between Guaranteed Issue (no health questions and no medical tests) and Simplified Issue (3 to 12 health questions and no medical tests) Simplified Issue plans ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:Is there a certain amount of time a policy needs to be in effect before full death benefits are paid? Most life insurance policies in Canada pay out from day one - except in instances of suicide or if their is meaningful non disclosure on the application. Guaranteed issue policies (no health questions and no medical tests) have a 2 year waiting period on the death benefit and some Simplified Issue policies (3 to 12 health questions and no medical tests) ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:Can a former spouse buy and pay for an insurance on the life of her former husband, on whom she does not depend financially? (This is in Ontario, Canada)There has to be an insurable interest and the insured always has to sign the application and answer any necessary health and lifestyle questions Read more questions and answers about Life Insurance FAQ.
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New question in Life Insurance FAQ

New question in Life Insurance FAQ: If a person has quit smoking for a year, does it make a difference in the annual premium. Yes non smoker rates are significantly less than smoker rates Read more questions and answers about Life Insurance FAQ.
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New question in Life Insurance FAQ

New question in Life Insurance FAQ: 15 years ago my then husband bought insurance policy and named me my son and his daughter from previous marriage as beneficiaries . I have been paying the premuim through my bank account. We divorced five years ago. I continue paying for the premuim. He never change the beneficiaries. His current wife hates me. What are my rights to claim this policy and can the wife claim this policy even she is not named beneciary. The policy owner controls ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:While working in the US I took out $1,000,000 5 year term policy. I subsequently have permanently relocated relocated to Canada. My question is this: Are the proceeds from the policy taxable by the US upon my death?I would check with the insurance company you took out the policy with or a tax advisor. We are licensed in Canada and would not have the expertise to answer you US tax question. Read more questions and answers about Life Insurance FAQ.
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:what is account value on a universal life insurance policyI think you are referring to the accumulation fund. The accumulation fund is the investment value of the policy. The accumulation fund and the cash value are not always equal the cash value is the amount the insured can actually redeem from his / her policy and is the accumulation fund minus any surrender charges and policy fees. Read more questions and answers about Life Insurance FAQ.
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