NLIC.org

Kent Said:

Do life insurance policies cover suicide?

We Answered:

If you people who answered this with a definite "No" will read an insurance policy, they almost all say it will not be covered for two years after the issue date. This is standard policy provision and means that if the policy is over two years old, it will pay. Also if you did not have aids when the policy was taken out, it will pay for that as well. If you don't know the answer, please don't give wrong advice.

Clara Said:

How old do babies have to be to be covered by life insurance policies?

We Answered:

Gerber is the most widely known child life insurance there is. You can't start the purchase PROCEDURE until the child is born, and you have a birth date. And the actual procedure, normally takes four to eight weeks.

I don't know of any insurance company that can get a baby insured sooner.

Johnnie Said:

Do you know homeowner/property/life insurance policies don't cover nuclear power plant catastrophes?

We Answered:

To start with, most insurance policies do not cover that.

Only three disasters would remotely be likely to occur.
1) Critical Mass - the infamous "meltdown". In order for a nuclear fission to occur you need to reach critical mass. That is when the fission occurs where there's enough densly packed atoms to guarantee a chain reaction. When one fission occurs it sparks another, etc. This is counteracted with a cutoff of sorts. Basically the source of the reaction is cut in this situation before it can get there, but you should never have enough material there for that to happen except for in a nuclear weapons facility.

2) Terrorism or theft - not likely that it would cause damage to you, however, if conventional explosives are used and the person knows how, they can manipulate it into a nuclear explosion.

3) Radiation leak - more of a health issue and the gov't would be held liable.

In fact, in all three the gov't or company would be liable.

Kinda answers that question eh?

Guy Said:

If you go bankcrupt can they claim on my life cover policy?

We Answered:

If you are bankrupt and the trustee in bankruptcy believes that your death could be imminent, he could decide not to release you from bankruptcy. When you die, the life insurance would form part of your estate and could be used by the trustee in bankruptcy.

However, if the life insurance policy is written under trust e.g. you completed a trust form with the life insurance company, or the life cover is part of your pension benefits in which case it is most likely to be in trust anyway, then the proceeds will not form part of your estate, and no the trustee in bankruptcy cannot get his mits on the money.

To be sure, check with your life insurance comapny and get some financial advice.