Financial ramifications of a loved one’s death
Coping with the death of a loved one can be an emotionally taxing experience. While finances may be the last thing on your mind, understanding the basics of estates, trusts, […]
Life Insurance Blog
What is a life insurance trust?
A trust is a financial entity created when an individual puts money or assets aside to be managed, invested, and distributed by a trustee. Trusts may assign an individual or […]
Life insurance policies: converting term life to whole life
Term life insurance policies are temporary and provide coverage for a specified period of time. Term life policies are simple: the policyholder pays regular premiums in exchange for a death […]
Can you have two primary beneficiaries on a life insurance policy?
When taking out a life insurance policy, the policyholder must name one or more “beneficiaries” who will receive the death benefit if the insured passes away while covered by the […]
Bad faith in life insurance policies
An insurance company acts in “bad faith” when it attempts to avoid its legal obligations to clients. Insurance companies engage in bad faith when they deliberately misconstrue or fail to […]
How do life insurance payouts work?
If you’re the beneficiary of a life insurance policy on someone who recently passed away, you may be wondering how the payout process works. What’s the typical time frame? What’s […]
5 most common reasons a life insurance company will deny a claim
Life insurance policies are supposed to protect families and dependents in the unfortunate event of a loved one’s death. Life insurance policies are valid, legally binding contracts between policyholders and […]
Misrepresentations and cause of death in life insurance applications
At first glance, life insurance seems like a fairly simple process. The policyholder applies for insurance with a specified death benefit, and, after he or she dies, the beneficiary or […]
When must an insurable interest exist for a life insurance contract to be valid?
When someone purchases life insurance, he or she must have an “insurable interest” in the insured. This means that the policyholder, i.e. the person who owns the policy and names […]
Challenging a life insurance beneficiary designation
When a policyholder passes away, his or her life insurance benefit is supposed to go to the named beneficiary, often a spouse, family member, or close friend. However, when multiple […]