Is there a website, or another way to best evaluate term life insurance providers?
I am sure there are some insurance writers which you can calculate the premium based on all the variables. I haven't went to those sites for so long, i can speak for it. Worst case, ask your close friends who work at an insurance industries and run tons of age/health/faceval/etc to see what the term prem will be.
Upon death, is the policy routed through probate, or can it go directly to the beneficiaries?
Depends. If the person has a will/willmaker and have a estate attorney, it will first go to estate attorney. However, the beneficiary check will have whatever beneficiary's name on it from insurance company.
Insurance company pays beneficiary/ies. If insurance policy wasn't updated, ummmmm......
What if death is not so obvious?
If it is stated in my will I would like to stay on life support for XX days, will the term life insurance still pay once the plug is pulled?
I have more or less “Cadillac” health insurance, but in the instance of a coma / life support, does health insurance foot the bill during the days in the hospital?
Insurance companies have their own team of investigators, and they will investigate. Make sure your policy covers this and that death.
Some shady MML/weird insurance company might go "well, we don't cover kidnap, if you look at the page 1,423 on our prospectus."
Some insurance company rep will design/write supplimental disabilities, or some other benefits. If policyholder only bought LIFE, it only covers life.
Whole/Var life, there is some pot you can loan the $ against, but see if policy holder made beneficiaries have power of att/custodial acct on those.
Basically, it is all upto how policyholder set up the insurance.
Quote:
Originally Posted by Watwood
I am looking at purchasing a 30 year term life insurance policy. The monthly premium is a factor, but more importantly, I do not mind paying for quality, if there is such an option. What I mean by that is, I would like a policy that cuts out, as much as possible, the red tape and litigious b.s. that plagues so much of insurance. I’m dead, my beneficiaries are paid, simple as that.
Is there a website, or another way to best evaluate term life insurance providers? It should be noted I have access to USAA policies.
Upon death, is the policy routed through probate, or can it go directly to the beneficiaries?
What if death is not so obvious? Say I am in a coma or on life support for some reason. If it is stated in my will I would like to stay on life support for XX days, will the term life insurance still pay once the plug is pulled? In conjunction with this question, I have more or less “Cadillac” health insurance, but in the instance of a coma / life support, does health insurance foot the bill during the days in the hospital?
I would ask if you are answering these questions off of speculation, not to answer, but if you have been down this road of research, guide a brother in the right direction.
Thanks.
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