Insurance Policy

Contested Life Insurance Policies

Legal Topics > Business > Insurance > Life Insurance Locate a Local Business Lawyer There are a number of reasons why a life insurance policy might be contested after the death of the policy holder, and it is not uncommon for an insurance company to look for any legal reason it can not to pay out a benefit.   While normally a benefit will be paid out within several weeks of the death of the insured, the most typical reasons for delaying or denying payment are as follows: There are questions involving whether the policy was "in force" at the time of death:  Although there are many types of life insurance policies, all of them require a steady payment of premiums to remain in force.

Category: Insurance Policy


The Umbrella Wording comprises eight sections, and these cover (in this order) the four major areas of benefits, premiums, claims and policy information. The purpose of each of the eight sections is summarised as follows, with the numbering following that in the Umbrella Wording: A statement of what your policy is and what benefits it can provide. This section links the Umbrella Document to the Benefit Appendix and the Policy Schedule, and makes those part of the overall policy. This provides a guarantee that if any applicable section or condition of your policy is enhanced in the future, then that enhancement will automatically be applied to your policy, subject to the conditions specified.

Category: Insurance Policy

The Benefits of First-to-Die Insurance

After you fall in love and get married, you spend a lifetime doing everything together as a team. You eat dinner together, raise kids together, buy a home together. So why not get life insurance together, too? Joint life insurance is an option that many married couples overlook, but it can offer some distinct advantages. By selecting a first-to-die life insurance plan, you can arrange to provide a stable financial future no matter which partner dies first. Plan for Your Loved Ones’ Future with Life Insurance Total number of current U. S. life insurance policies: 274,836,000 Average value of an individual life insurance policy: $168,000 In 2015, 40% of Americans had no life insurance.

Category: Insurance Policy

State Farm Review | State Farm Insurance

Introduction Founded in June 7, 1922 by George J. Mecherle, State Farm is a group of Insurance and Financial services in the United States. It started off as a mutual insurance company owned by the policyholders. Its headquarters are placed in Bloomington, Illinois and operate with more than 65,000 employees, 18,000 agents with 343 claim offices and 30 operation centers. Their agents service 82 million policies and accounts throughout the United States. Its major services include Insurance, Banking, and Investing. The group focuses mainly on the State Farm Mutual Automobile Insurance Company which is a mutual firm that owns the other State Farm companies as well.

Category: Insurance Policy

Full Coverage Car Insurance: What Is It?

Posted by Safeco October 6, 2016 You often hear the phrase “full coverage” when talking about auto insurance. But, what exactly does that mean? For some people buying car insurance, full coverage means the whole kit and caboodle, from bodily injury liability to electronic lock and key replacement. For others, full coverage refers to the big three of: liability, comprehensive and collision. For still others, it’s whatever’s required by their state. There’s simply no exact definition. However, when people think of full coverage insurance, they may be thinking of a policy that includes these six coverages, which the Insurance Information Institute considers a “basic auto insurance policy:” Bodily Injury Liability This coverage helps pay for injuries you may cause others, such as the driver and/or passengers in another car.

Category: Insurance Policy

Irrevocable Life Insurance Trust (ILIT)

It is generally well known that life insurance proceeds, in most cases, pass to the named beneficiary free of any income tax. Less well known, however, but vitally important, is that the payout from a life insurance policy is generally included in the “gross estate” of the policy owner for estate tax purposes at the policy owner’s death and is potentially subject to federal and state estate taxes. At the current federal estate tax rate, (45%), a significant portion of the life insurance proceeds would be payable to the Internal Revenue Service for federal estate tax instead of passing to the policy owner’s beneficiaries.

Category: Insurance Policy

Accident Protector

If an accident sends you to the emergency room, lands you in the hospital or requires a recovery period after hospital confinement, Accident Protector pays cash directly to you. So instead of worrying about how you’re going to pay your bills, you can focus on getting better. Help with a wide range of costs associated with injuries from an accident Four out of 10 people are treated in emergency rooms every year. 1 The typical length of a hospital stay is five days – and costs over $10,000. 2 That’s more than two month’s income for the average American family!3 If you or a family member is hospitalized, do you have an emergency cash fund to help pay for non-medical expenses? Because even though you’re injured you still need to pay insurance deductibles and copayments as well as monthly household bills like rent or mortgage, car payments, groceries and utilities.

Category: Insurance Policy

Title Policy Coverages

Title insurance offers financial protection against title problems that might not be found in the public records, are inadvertently missed in the title search process or that may arise from fraud or forgery. The title policy required by a lender covers only the lender’s interest in a property. The homeowner’s policy, purchased at closing, provides coverage for the homeowner. If your home’s title is challenged, based on a situation covered in the policy, the title insurer will either perfect (establish a valid title) or pay for defending against the challenge and will either make perfect the title or cover the costs in the case of a valid claim.

Category: Insurance Policy

Will my insurance go up if I move?

Before you move, you likely research the best schools and buzzworthy restaurants near your new home, but you may have forgotten to find out the car insurance impact. The price can change dramatically for better or worse depending on your new address. Our moving calculator helps you predict your savings – or your budget-busting change. If you're moving from Bullhead City, Arizona, to Detroit, Michigan, you better have an extra $3,897 on hand to pay for the hike in your car insurance, according to our analysis of average car insurance rates.

Category: Insurance Policy

Northwestern Mutual Disability Insurance Policy Review

Too often, one of your most important assets may be the one you give the least amount of thought to—your income. How would you manage living day to day and handling all your expenses without the promise of a steady income? A disability in the form of a severe accident, injury or illness can happen at any time. Disability income insurance helps protect the financial security of you and your family against life’s most unexpected events. Even if you already have an income protection plan through your employer, an individual income protection plan can fill in gaps and leave you with more complete coverage and peace of mind.

Category: Insurance Policy

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