The Life Insurance Review
Where Life Insurance is Talked About
Writing the policy in trust
May 10th
Many are not aware of a strategy when it comes to life insurance policy that simplifies the claim process. Experts advise people to write their policies in trust which if not offered can be requested along with further information. An insurance policy in trust has the proceeds of the insurance policy proceed directly to the named beneficiary without having to wait for the tedious process of court orders and other formalities associated with claims of this type. The money that comes in the form of the money paid by the insurance company falls outside of that person’s estate which leaves it void of the deductions and other costs of inheritance taxes.
Your age and insurance exams
Feb 21st
As you may already know, most insurance companies require medical examination for all prospective clients to ascertain heir eligibility for life insurance. Your age plays a big part in your ability to get cheap insurance and the higher the cover, the more likely the chances of the firm requiring you to get a medical exam at an authorized facility. For mid-level/range policies customers may be required to get a physical exam, urine analysis, blood analysis, EKG and an X-Ray, plus an additional treadmill EKG if the policy goes more than two million US dollars. Trying to hide previous illness is also a futile and illegal activity punishable as insurance fraud which could nullify your insurance if proven. Be frank with your assessor so you get no surprises in the future or void your beneficiaries the product of your hard labor. However hard you may try to hide