Term Life Insurance: Why You Must Consider It? : 5 Benefits of Your Term Life Insurance
Term Life Insurance is an essential part of your financial portfolio. In the realm of financial planning, securing your family’s future is paramount. Among the various insurance options available, a term life insurance stands out as a foundational element in safeguarding your loved ones’ financial well-being.
Let’s delve into the compelling reasons why having a term life insurance is important…
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Top 5 Reasons Life Insurance Claims are denied
You planned ahead and got life insurance to provide financial protection for your loved ones. A life insurance denial is not part of your plan, but it can happen. Sometimes insurance companies refuse to pay out, life insurance claim denials are crucial to understand. Understand the reasons for life insurance claim denials. The knowledge ensures you choose the right policy. Right policy instills confidence that your loved ones will receive the financial protection you’ve planned for them. Additionally, familiarize yourself with the options you have if a life insurance denial happens, as we’ll discuss below.
What are the top 5 reasons for a life insurance denial?
1) False information in the life insurance application
The insurance company can deny a life insurance claim if the policyholder misrepresents, withholds, or omits important information. In the insurance application details given should be correct. Examples include lying about your age, withholding the fact that you are a smoker, or failing to disclose a pre-existing condition like depression or diabetes.
2) Policy exclusions
Life insurance policies often exclude coverage for certain types of deaths or other circumstances. Common exclusions include death caused by suicide, drug overdose, illegal activity, and specified hazardous activities (e.g., skydiving, bungee jumping). Every life insurance policy is unique. It is so important to read and understand the exclusions in your specific policy. If death is caused by factors excluded by the policy, the insurance company will deny the claim.
3) Expiration of term life policy
Term life insurance policies provide coverage for a specific period of time, known as the policy term (e.g., 5 years, 20 years). If you outlive the policy term and don’t renew coverage before it expires (assuming renewal is an option), the policy will lapse. The insurance company will not pay out if you die after the policy term has expired.
4) Non-payment of premiums
A life insurance policy can lapse due to non-payment of premiums. Once you miss a certain number of payments (set out in your policy), the insurance policy will lapse and no longer be in force. If you die while the policy is lapsed due to missed premium payments, the insurer can deny the claim.
5) Fraud
The insurance company will deny a life insurance claim if fraud is suspected. Fraud in this context means intentionally providing false or misleading information to obtain insurance or to receive a death benefit from a life insurance policy. Examples of insurance fraud include lying on the insurance application (e.g., providing false information about your health or hiding a pre-existing condition), providing false information about the cause of death, and staging or faking death.
Options when life insurance denial happens
It may be possible to contest or appeal an insurance denial or reinstate a cancelled policy. For example, if the reason is non-payment of premiums, it may be possible to appeal the denial or reinstate the policy by making up missed premiums.
If your life insurance claim is denied, you must carefully review your policy and the written reasons for the denial. Additional documentation or evidence such as medical records, police records, or an autopsy report will be needed to strengthen the appeal. You should also consider seeking legal advice to contest the denial of a life insurance claim.
Contact https://simpsonthomas.com/contact/ or call 604-689-8888 Simpson Thomas & Associates. Speak to a lawyer today if you are facing a life insurance denial.
About Simpson Thomas and Associates:
STA is a prominent law firm, with a rich history of over 50 years. It is based in the lower mainland with offices in Vancouver and Surrey.
The firm is active in various practice areas. Namely, personal injury, family law, immigration, employment law, estate litigation, and insurance denials.
STA commits to serving the community with its legal expertise. Also, actively support causes that enhance the well-being of individuals and families.
Reach out and consult with us:
Phone: (604) 689 – 8888
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Safeguarding Your Family's Future: The Importance of Life Insurance
Written by Delvin
Hey everyone! Today, let’s talk about something that often goes overlooked amidst the buzz of car insurance, home insurance, and other forms of asset protection—life insurance. Your life is your most valuable asset, and ensuring that your family is protected in the event of the unexpected is paramount. In this blog post, I want to share my personal perspective on why having a…
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The genus Silurian ("Person of the Silures", in reference to the historical territory of Wales in which they were first found) was initially known only from a single fossil, notable in part for the unusual object fossilized alongside it (1). Though this was generally accepted to simply be a large petrified stick, the "Silurian Artifact" was often a point of discussion in the topic of dinosaur intelligence and the theory of pre-human civilizations. It wasn't until large-scale mining operations began to impede on their extensive networks of stasis chambers that the Silurians themselves finally woke up and were able to meet humankind in person. To the surprise of many (and dismay of a few) the Silurians were not the scaled, humanoid "dinosauroids" so often depicted, but colorful, feathered, and relatively goose-shaped.
Most Silurians who were present in the planet's underground represent the gentry and high ranking military, who were given priority in the earth-based shelters. Most others were evacuated on large, extensive spaceships, all of which are yet to return to Earth. Due to this, the varied mindsets and cultures of the Silurians are in shambles at best, largely replaced by the speciesism and real estate concerns of the upper classes.
(1) Much later, the original type fossil was identified as Rohlik, a student who fell to his death after attempting to drunkenly pole vault over a ravine with a large petrified stick.
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Learning About the Different Types of Life Insurance Policies and How They Work — Market Business News
Life insurance policies provide financial protection to the insured’s beneficiaries in the event of the insured’s death. In Malaysia, several types of life insurance policies are available, each with its features, benefits, and limitations. This article will discuss the most common types of life insurance policies in Malaysia, including term life insurance, whole life insurance,…
Learning About…
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the concept of the dream smp is completely mad like are we sure that wasn't a two year collective fever dream. a bunch of the biggest streamers in the m'necraft sphere on a server where it took one afternoon of breaking bad references to kick-start a two year sprawling in-game roleplay involving geo-political tensions, nations, one of the most accurate depictions of abuse in anything, necromancy, possession, a giant red egg, ghosts, a live suicide attempt and coming to terms with how sh't your dad was. all streamed on youtube and twitch. peak viewership on a single day was like 1.4 million people, involving some of the biggest names in the online gaming sphere, mr beast would log on every now and again and stop everyone role-playing to hunt for a bunch of gift cards that never got used, they were all gay all of the time for some reason, lil nas x logged on one time and built a tree house?? are we sure that was real like sure there were plenty of news articles on it for some reason but are we all totally sure that happened
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Jason likes to cook.
Unfortunately, his new powers have something to say about that.
It started with turning intangible. Small things, really.
Randomly floating a few inches off the ground. Phasing a gun through his hand on patrol. Eyes glowing radioactive green.
Things he wouldn't bother bringing up to Bruce, Dick, or anyone else. They were small, he could handle them. Fuck it, with all the shit he came into contact with, getting powers wasn't a matter of 'maybe', it was a matter of 'when'.
But the most recent development.
His food...comes to life. He just got into a war with the leftovers, and they actually gave him stitches.
He has mild concerns that this means he could start the zombie apocalypse, but more immediate concerns that he'll have to eat takeout for the rest of his life.
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