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No, you are not obligated.
You can cancel your life insurance policy at any time.
Usually, there is a "Free Look" Period for life insurance that lasts anywhere from 10-30 days where you can return your life insurance policy to the insurer and get a full refund of premiums paid.
Review your life insurance policy and ask your agent, or insurer, about this option before canceling your life insurance policy.
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Are the answers to an insurance application considered a warranty?
No, the application is an application so therefor the answers to the application are just that. Once a policy is issued it is not a warranty but a contract. If you pay your premiums then the insurance company is contractually obligated to pay your claim in accordance the the specifications in the contract (policy)
Is a parent legally obligated to carry their adult child on health insurance in Missouri?
Not once they are adults. It is often done to help the child get started in their lives.
What is the difference between term and permanent life insurance?
Term life insurance if only for the life of the coverage holder, once deceased the amount is paid to the beneficiary. Permanent life insurance, known as whole life insurance, combines term life insurance with an investment option.
What is the benefit of buy term insurance?
The benefit of term life insurance is that once the life insurance is completely paid off, then the monthly premium are paid off by the dividends. People can also borrow from their life insurance.
When is life insurance a necessity in a persons life?
Life insurance is a necessity if you have loved ones you'd like to ensure the protection and well-being of your family when you die. There are choices to make once you decide to take a life insurance policy such as; will I take term or whole life insurance?
Can bankruptcy court get the proceeds of a life insurance policy?
The Bankruptcy Court has every right to claim the proceeds of a life insurance policy once you are declared by them as insolvent.
Why are you obligated to go to hajj once in your life?
Performing Hajj once in lifetime is the fifth pillar of Islam. It is in the light of the command of Almighty Allah, as offering prayer five times a day is obligatory.
What is the major advantage of term life insurance over whole life insurance?
Cost. Other than that, there are no advantages. Whole life insurance lasts your whole life. It pays upon your death a predetermined amount. Once the designated term on term life expires, you have no more life insurance. Term will be significantly cheaper depending on your age.
How can one get in touch with a senior life insurance company?
You can get in touch with a senior life insurance company by visiting the Senior Life Insurance Company website. Once on the page, click on "Contact" in the top right-hand corner to bring up the information.
Where can one purchase trauma insurance?
You can purchase trauma insurance from the Life Broker website. Once on the page, you can learn more about trauma insurance policies and get a free quote.
How can you find more information about life insurance from AARP?
Life insurance information can be found at the AARP website. Once you are browsing the AARP website you will see many categories. Furthermore, you can search the website for 'Life Insurance' on the top right corner search box.
What is Life insurance definition?
Life Life insurance is a nonprofit organization dedicated to helping people gain financial responsibility and educating people on life insurance. You can get more information at the Life Happens Organization website. Once on the page, click on "About Us" in the top navigation to bring up the information.
