But sometimes beneficiaries are unaware a life insurance policy. that the insured has died. If premiums are still due then part of the policy’s cash value can be used to cover missed premiums to prevent payment failure. However, this also results in a decrease in the value of the policy. On the other hand the deceased may have made all required payments which means the insurance company does not need to contact them. Therefore they never notice that they are dead.
To avoid this be sure to provide your
Beneficiaries with all the necessary information Hong Kong Phone Number List they will need in the event of your death so that they can make a successful claim. It is the beneficiaries who go to the life insurance company and not the other way around. It is a mistake to assume that your life insurance policy provider will make an effort to track all of your beneficiaries upon your death. Insurance companies simply won’t go through this trouble. Related Articles Why Your Credit Score Matters and.
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How Can I Get Emergency Cash Australia Phone Number List Quickly If an Unexpected Bill Comes Here Reasons You Need a Financial Planner Often beneficiaries don’t even know they are the beneficiary of a policy. They don’t know you’re claiming after you die so the money stays with the insurance company and they don’t even bother to notify them. Avoid this by providing your beneficiaries with all the relevant information they need to make a claim including the value of the policy and its number as well as contact details they can use to contact the insurance company.
