beneficiary on my policy, and does it matter how a person dies?
any info will be greatly appreciated, thanks
2007-01-30 08:45:05 · 6 answers · asked by Bored Much 2 in Family & Relationships ➔ Family
Anyone can get life insurance, along they provide proof that they are insurable. Except for kids under 18, they do not need to provide proof of insurability.
Who should you name a beneficiary? For start, name your parents and your brother(s) and sister(s). When you get married, you can change the beneficiary to your spouse and kids. In any case, you are allowed to name anyone a beneficiary such as your best friend or a relative.
Does it matter how a person dies? Well, during the first two years of the policy, yes it does matter on how you die. If you commit suicide, you lose coverage, but premiums will be refunded. After first two years, it doesn't matter.
2007-01-30 15:41:52 · answer #1 · answered by Anonymous · 2⤊ 1⤋
Yes, you can buy your own policy.
Generally, the beneficiary of your policy must be someone who has an interest in seeing that you're still alive. The insurance company can deny benefits to someone who's a stranger, who doesn't have a relationship or interest whether you live or die.
Sometimes, it does matter how you die. If you get an accidental insurance policy, you must die due to an accident in order for benefits to be paid. Most insurance policies will not pay out in the case of suicide.
2007-01-30 08:53:45 · answer #2 · answered by Anonymous · 0⤊ 0⤋
yes, you can get a life insurance policy when you're 18. It doesn't matter who you list as a benificiary. If I'm not mistaken the life insurance policy is void if you commit suicide. They all may not be like that but I know my friend's dad killed himself last year and they didn't get any of the life insurance due to the fact that he shot himself. Ask the companies that you call. They will be more than happy to explain that to you.
2007-01-30 08:51:53 · answer #3 · answered by tiffany6322 4 · 0⤊ 0⤋
Yes on the insurance---and I have heard you can have anyone related or non related --no age stipulations either--as a beneficiary --I have even known that persons have animals as beneficiary--
2007-01-30 08:51:31 · answer #4 · answered by skizzle-d-wizzle 4 · 0⤊ 0⤋
Yes, you can get life insurance. As for the rest of your question, you'll have to discuss that with an insurance agent. State Farm offered me life insurance (since I have car insurance through them) at a pretty cheap rate.
2007-01-30 08:50:10 · answer #5 · answered by Anonymous · 0⤊ 0⤋
lol... I've had life insurance since I was 5... when you're young is when you have to get it because it's too expensive when you're old and sickly. Common sence question, by the way.
2007-01-30 08:50:55 · answer #6 · answered by ♥Princess♥ 4 · 0⤊ 0⤋