by RAJIVIRDI » Sat May 02, 2009 07:22 am
my husband is retired,hewas selemployed,thats why he is only getting some socialsecurity,no other benifits.I have insurance on me,but does.t have nothinig.he is not terminally ill but he has several health problams.I just want to get small term isurance incase something happens we will have something to use for sudden expences. thanks
Posted: Tue May 05, 2009 10:57 pm Post Subject:
Hey Teacher, don't you think the laws have left a huge room for insurance frauds this way?
and maybe murder.. :roll:Posted: Wed May 06, 2009 05:16 am Post Subject:
Simon says (I've wanted to say that for awhile now :) )
Hey Teacher, don't you think the laws have left a huge room for insurance frauds this way? If this provision remain available then curbing insurance problem would continue being a hardship.
And Lori said:
and maybe murder..
and Insurance Expert said:
Except for small amounts of insurance, the insurance company is going to need the insured to prove their health. This can't be done without the knowledge of the insured.
The proof of insurability and good health (not the same things) are required of almost all insureds these days, except for small amounts of insurance usually issued on younger people.
As far as murder is concerned, you cannot, by law, collect a death benefit through the commission of a felony and certain misdemeanor crime. So, if the beneficiary killed the insured or did a "murder for hire" routine, the carrier would delay paying the death benefit until any police investigation was completed. Now, that being said, I've seen carriers pay too quickly and have had to go after the beneficiary civilly in order to recover the death benefit funds that shouldn't have been paid due to this kind of situation. Good luck to the insurers on that one.
This is a great issue! :D
InsTeacher 8)
Posted: Wed May 06, 2009 07:07 am Post Subject:
Rajivirdi....My question to you is why do you want to get an insurance without his consent...
U say he has some health problems... I am sure he understands the need for insurance as well..
Also that he's retired that means he doesnt fall in an age group where you can get insurance without medicals....
Because of medical tests involved, it is next to impossible to get an insurance without him getting to know about it..
Posted: Wed May 06, 2009 10:22 am Post Subject:
Yeah but gnp there are all kinds of companys that offer, no medical exam or questions, guaranteed insurance if over 60 blah blah, not high limits by any means, but enough for what she's wanting (final expenses)
Posted: Wed May 06, 2009 10:49 am Post Subject:
True Lori.. I agree... But i still don't see a point as to why a person with health problems deny taking insurance.. What is the exact purpose of taking the policy without a person's consent?
Posted: Wed May 06, 2009 10:58 am Post Subject:
What is the exact purpose of taking the policy without a person's consent?
I can't answer that, except to way that maybe the husband is a little touchy about death, and thinks his wife might have monetary motives...although I don't think so at all..i think she just wants to try and protect herself, especially against the cost of final expenses...there are just some people that refuse to face it...and maybe she doesn't want to upset him by talking about it..
Posted: Wed May 06, 2009 11:07 am Post Subject:
hmmm yea..Hope that is the case.... n if it is truly so :wink:
Posted: Sat May 09, 2009 03:05 am Post Subject:
I don't have a lot of personal experience with "burial" or "final expense" insurance, but we have a lot of people coming to us for their licensure that do this. They are appointed by the guaranteed issue carriers and solicit exactly that coverage. Lots of them are employed by the big funeral homes/cemeteries scattered throughout the country.
Lori was right, I think, on a couple of points. When taking to people who sell these policies, I've heard the "he won't get his own life insurance so I have to do it without him!" kind of thinking. And I understand...my father was the same way, and my mother almost killed him because he wouldn't get insured. Then she remembered he didn't have any life insurance!! :D :shock:
Secondly, the limits on these contracts are $10k or less, and the premiums are ghastly. Remember the commercial that said "And the coverage is available for as little as $7.95 per month!!!" :shock:
Next time ya see this- read the fine print that flies across the bottom of the screen at about 1200 mph and in a 4-point font, and you'll see that the $7.95 is the "unit" rate. A "Unit" of life insurance in this case is $1,000 or less. So, a $10k policy would cost you around $80 a month at the best price :shock: :shock: That's almost $1,000 a year in premiums for a policy that will pay $10k in the event of death, and remember- that's the BEST rate.
Have fun!
InsTeacher 8)
Posted: Sat Aug 01, 2009 03:56 am Post Subject:
Posted: Sat Dec 22, 2012 07:29 pm Post Subject: insurance without my consent
How can you research and no this.. I need to know.. If my spouze did without my knowledge... Can I go to a website to find this out.
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