We give you straight answers to your toughest, and some of the most common, questions about life and health insurance. … Read more
Insurable interest means that the person who is purchasing the policy has more to lose than to gain by the insured’s death and therefore may purchase a life insurance contract on somebody else’s life. This is intended to prevent a person purchasing a policy unknowingly on another person for purposes of wagering, planned murder, or any other reason.
A conditional receipt binds your life insurance coverage effective on the date of your application (the exact conditions vary a bit from company to company), provided that you are eligible for the coverage applied for. If applicable, you will receipt after your application has been taken and you have paid the initial premium payment.
Premium financing has been around for years in the life insurance industry and has been heavily promoted, especially among wealthier … Read more