Life Insurance FAQ:

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New question in Life Insurance FAQ

New question in Life Insurance FAQ: If I have been paying approximately $90.00 per month for the past 12 years. How much (ball park) am I allowed to borrow against this term policy and do I have to pay it back or is there any type of penalty? How do I go about borrowing against this policy, if possible? Most term policies do not have a cash value. You would have to contact your broker or the insurance company to see if your policy has a cash value - if it does, you can generally just ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:How long does it usually take for a beneficiary to get the death claim even after the contestability period is over and the requirements were already submitted?The amount of time can range from a couple of days to several months. If the insurance company suspects foul play or fraud they will likely write the insured's doctor(s) for clarification. 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:Am I covered if i commit suicide after having the policy for more than 2 years?Thanks for the question - I assume you are referring to a life insurance policy. Life insurance policies have a 2 year suicide provision so the policy would pay out after 2 years assuming there was no mistatements of fact on any of the application 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: What if the insured person was diagnosed with Cancer after being with the Insurance company for over 3 yrs? Does the insured person can claim the whole amount of the policy he/she have been insured for? And if not how much the insured person can claim at the insurance company in view of this scenario? No claim can be made on a life insurance until the insured dies. The applicant can apply for a Terminal Illness benenfit - most insurance companies ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:Hi, my mother-in-law died two weeks ago. How can I claim the insurance if I don't know the policy number is correct or not?Sorry to hear that. You would have to contact the insurance company or the broker (they can verify if the policy is in force) and let them your mother-in-law died. They will need a death certificate you can usually obtain this from the funeral home. 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:where can I get a copy of my policy, I lost my copy and I can't get in touch with my agentYou can get a copy from the insurance company. There is usually a charge of $25 to $50 for a duplicate policy. 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:Ten Years ago I donated one of my kidneys to my wife. Policies we had at that time stayed, but when recently I tried to increase my policy (with Manulife - group plan with engineers) they turned me down and basically stated that they would not even consider my wife. We are both healthy otherwise and live normal lives, yes we do se specialists to make sure all is well. Any suggestions, other than policies with no med q’ns?Thanks for the note. You or ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:Hello, My wife is 25 y/o healthy ns/nd. what type of life insurance should i be looking at. also i am looking in the range of 500,000 to 1,000,000. what type of monthly premiums would i be expecting. a further question is can i buy life insurance from the u.s. even though i live in canada. Thanks for the note. The premiums will depnd on the type of plan. Term plans start of lower and go up as you get older whereas Permanent plans start off higher ...
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New question in Life Insurance FAQ

New question in Life Insurance FAQ:What does banded 20 year level term to age 100 plan type mean. Does coverage stop in 20 years or does it continue until age 100I think you are referring to 20 year term insurance renewable to age 100. This means the premiums are level for 20 years. After the 20 years the policy is guaranteed renewable to age 100 but the renewal rates will be significantly higher after the initial 20 years. 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: I had a few questions with regards to coverage on Life Insurance plan from Canada Life. if one takes the plan in Canada and later moves to an international location for e.g. Asia, would the 1)insurance coverage still be valid internationally and 2)If the person passes away in the international location, will the family still be able to claim the money out? Thanks for the questions 1) Yes your coverage would remain inforce as long as the policy is paid ...
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