Life Insurance Pay Out for Anything That Could Happen?
Life insurance is an integral part of securing a family’s long-term financial health. But in order for you to use it effectively and ensure adequate coverage, you need to know what it does and does not cover.
All life insurance policies, like health insurance plans, are effectively contracts. They have their specific terms. Failure to meet these terms will result in the insurance company refusing to pay out. They do not pay out in any and all situations and it always pays to read the fine print.
These are several circumstances that could result in your life insurance money not being paid out to your family in the event of your death.
Your Family Doesn’t File a Claim
The first one sounds obvious but is surprisingly common. If your family does not file a life insurance claim,...