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Group life insurance covers the lives of multiple persons such as some or all employees of a business, members of a labor union, or members of an association. Depending on the group life insurance policy, the insured person may receive life insurance coverage as an employee benefit, make a contribution to pay part of the cost, or may pay for the group life insurance policy on their own.
→ Read MoreConseco Life Insurance Company has agreed to an $11 million settlement with 37 states over allegations of bad faith insurance practices – specifically involving its Lifetrend life insurance policies. The settlement came after a multistate insurance investigation based on consumer complaints over increased policy costs. Bad faith insurance lawyers say that these types of practices are why Conseco was voted one of the top ten worst insurance companies in America.
→ Read MoreIf you lie about smoking, the health insurance or life insurance benefits for you and your family may be at stake. Cigarette users may be motivated to lie in order to obtain either (a) lower health insurance premiums or (b) maintain eligibility for life insurance policy or rates. In some states, lying about smoking for insurance purposes is a material misrepresentation, just like lying about health history. In others, the face amount of the policy may be adjusted downward if the policy holder misrepresents his smoking status.
→ Read MoreWhat happens if the insured person dies?
→ Read MoreWhat factors are considered in individual life insurance underwriting?
→ Read MoreGenerally, life insurance benefits are paid to the named beneficiary, regardless of his or her status as a spouse. In places other than Michigan, divorce usually has no effect on this designation of beneficiary.
→ Read MoreCan a life insurance company deny a claim on a valid policy if the insured dies?
→ Read MorePayment will be held till child is an adult. May make sense to create trust to receive payments for minor.
→ Read MoreIt’s the responsibility of the insured to name beneficiaries, and company will pay estate if none are named.
→ Read MoreWhy are life insurance companies regulated by the government?
→ Read MoreFind the right lawyer for your legal issue.
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