Life Insurance Lead Bronx New York NY
Reader’s Question:
I am a single parent living with my kids in Bronx New York NY. Will there be other uses of life insurance by the time my children will leave me at the age of at most 21?
Justine
Bronx, NY
There are lots of things that you can do with your life insurance even when your children leave their nests in Bronx New York NY. Remember that life insurance will not just be so necessary when the children are still young and unable to do tasks. Life insurance is money which is also very useful whether your children are already adults or still on their teens when you die.
First, you have to keep in mind that although you are in Bronx New York NY, it does not mean that your children will leave in a secured and financially stable life immediately after they leave your home in Bronx. Your life insurance may continue to provide your beneficiaries financial security when you die. Besides, you never know that your life insurance benefits will soon be used to reach their dreams.
Your life insurance could also help in your funeral or burial since we all know that those things costs considerably these days especially in Bronx New York NY.
Even if your kids will be financially stable in the future, it can be used to supply whatever is lacking in their dreams. Some examples would be to use your life insurance proceeds to acquire new assets such as car, additional capital for their business or even to buy new life insurance for their own.
Whatever plans your children might have when they receive your life insurance benefits, I’m pretty sure that your life insurance benefits will still be useful. You just need to teach your beneficiaries how to invest it wisely while you still can.
Tags: life insurance benefits, life insurance leads
Life Insurance New York New York NY
Reader’s Question:
I am from New York, NY and I have a life insurance from a local insurer here. Will my beneficiaries still receive life insurance if for the insured committed suicide?
Nancy
New York, NY
That’s an interesting question Nancy
Suicide is indeed a very controversial case. This means that life insurance companies in New York New York NY, or any state for that matter, may treat the case differently based on their own judgment. If you and I trace back to the cases of suicide, the court have always favored the beneficiaries in cases if the suicide is proven to be purely incidental, such as there are no trace of murder or insurance reasons. This would mean that life insurance benefits are given to the beneficiaries of the policy holder who did commit suicide. In most cases, the life insurance company returns the total amount paid by the insured if the policy is still enforced within two years of policy life. Should the life insurance policy go beyond two years, that’s the only time that the beneficiary will get to receive the actual death benefit of the insured.
The two year policy-life in life insurance is mostly related to the contestable period which is provided by governing rules and regulations on insurance in every state. A contestable period serves as a protection both for the provider and the insured. It is essentially a period to trace fraud and lies on the application. Most life insurance companies in New York NY may find it necessary to simply return the premium amount within the contestable period when the insured committed suicide. To be sure of how suicide is treated by most insurers in your area, it will be best to check on the provision in the life insurance policy. Again some companies in New York New York NY treat it differently and it may be that their life insurance products specifically disregard cases of suicide in the contract. If not, then the general provision I stated earlier should apply in your case.
Tags: life insurance leads, insurance regulations
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