In a life insurance policy, the insured is the person whose life is being covered by the policy. They are the individual whose death triggers the payment of the death benefit to the beneficiaries. However, there may be circumstances where the original insured becomes unable to fulfill their ro...
Learn about the process and implications of backdating a life insurance policy in the field of finance. Understand the intricacies and considerations involved.
By handling it this way, you ensure the policy is properly canceled and avoid any potential lapses in communication that could leave the policy active with premiums still owed. It’s a good idea to keep a written record of cancellation and confirmation that your term life policy has been canc...
Aliving trust, also called aninter-vivos trust, is a written document in which an individual's assets are provided as a trust for the individual's use and benefit during their lifetime. A trustee is named when the trust is established; this person is in charge of handling the affairs of...
last updated on February 6, 2025 Written by Daniel Ray, Life Insurance Expert | ✅ Fact Checked by Lisamarie Monaco | Editorial Disclosure Experiencing a heart attack is a significant health event, but it doesn’t necessarily preclude you from securing life insurance coverage. Understanding the...
Life Insurance Proceeds:These pass directly to designated beneficiaries, not through your will. Transfer-on-Death Accounts:Designated beneficiaries receive these accounts outside the will. There's a key exception: If the beneficiaries of those assets predeceased the testator, the policy or account the...
the value proposition of life insurance as a savings tool is being fundamentally challenged. As a result, according to the McKinsey Global Insurance Pools, the overall gross written product (GWP) growth of the industry has been flat (0 to 1 percent), while new business has been...
The life insurance comparison service is provided by Direct Life & Pension Services Ltd who are authorised and regulated by the Financial Conduct Authority (155312). Registered Office; Friars House, 52A East Street, Chichester, West Sussex PO21 2PJ. By using this system you are also agreeing to...
Disability Insurance Quote 4.9 5.0 Why Buy Business Disability Insurance? Key man life insuranceis a common risk management strategy implemented by small businesses to protect them from the death of a key person. For many companies, buying a keyman life policy is a “no brainer.” However, the...
“Without a clear written agreement in place, litigation by way of partition action may be required in order to address one’s wish to depart with his/her accrued overall share of the investment,” Morgeson says. “Such process will almost certainly include costs of appraisal(s) of the sub...