Life insurance can make life much easier for those you love if something happens to you and you are not there to provide for them. We are independent insurance agents at Bryan Insurance Agency LLC in New Windsor, NY, giving us access to more choices to help find the perfect policy for you at a price you can live with.
Why may a life insurance policy refuse to pay the death benefit?
Most policies will pay for accidental death or natural causes with proof of death. If your policy is less than two years old, more questions may be asked, and the application may be looked at more closely. If any misrepresentation was made in the application, that could result in a refusal to pay. Also, if the death resulted from suicide, most policies will not pay if it occurs in the first two years.
Can I extend my term policy?
In many cases, you can, but you will not be eligible for the same rate currently. You may receive that information when you take out your policy, but it is worth discussing with your agent if you think it is possible.
Do I have to choose my spouse as the beneficiary?
Your choice of beneficiary can be anyone you choose. Keep in mind that children will not be able to collect the benefit until they are of legal age in the state where they live.
Is it ever too late to buy life insurance?
As long as someone depends on you, probably not. Some people use their life insurance to pay for final expenses, which removes the burden on their loved ones.
Contact Bryan Insurance Agency LLC in New Windsor, NY when you are ready to discuss the benefits of life insurance.