NLIC.org

Anthony Said:

Can States Take out Whole Life Insurance Policies on Their Employees?

We Answered:

Strictly speaking, if *any* companies are allowed to take out ''dead peasant'' policies on their employees, then the State or state agencies themselves would be able to do so. Whether or not they actually *do* may be a matter of political ethics - and would be an extremely interesting series of media articles that most politicians would just as soon avoid, I should think.

Penny Said:

Is there life insurance policies available through the military for spouses?

We Answered:

yes they do. its a supplement to the sgli that your husband has. all you have to do is contact the human resources office at your base and fill out the paperwork. its inexpensive and a good policy.

Eugene Said:

What are some affordable life insurance policies for people with diabetes?

We Answered:

You can visit this site to compare life insures at your side :
http://free-best-life-insures-comparator-usa.blogspot.com/
You need to work with someone who has experience handling these types of issues. Expect them to ask questions like:
type I or type II?
how long ago were you diagnosed?
what's your a1c (or average glucose if you don't know that)?
what meds are you taking?
how often do you see your doctor?
do you have any other ailments like kidney or coronary problems?
any complications like vision problems, tingling in your extremities, etc?
do you use nicotine and what type?
what's your height and weight?

Final offers depend on your experience with the disease, how well it is controlled, and placing your risk with the right company. Not all companies handle the same risk the same. I have seen everything from standard to declines. An "average" offer might be a table 2-4.

Michele Said:

I have heard of people having more than one life insurance policy. At death will all the policies pay?

We Answered:

As long as there's no fraud 9which includes the beneficiary killing the decedent), and there's nothing in any of the policies precluding payment (doesn't cover travel in private aircraft, etc.), each policy will pay. It's not like medical insurance, where one is primary, and total payment can't exceed cost.

Valerie Said:

Is there a limit on the number of life insurance policies one person can have?

We Answered:

No, there is no limit on the number of life insurance policies a person can have.

Each application for life insurance usually asks if you have other life insurance, and how much coverage on each policy.

The insurance company wants to make sure you aren't over-insured, so there isn't a reason for you to end your life, or someone to kill you.

That being said, a life insurance policy has exclusions. If you commit suicide, the policy will not pay out if the suicide happens within two years of purchase of the policy (one year in some states like Colorado).

Also, if you misrepresent an answer on the application, and you die within two years of the policy being purchased, the insurance company can contest the payout.

It is usually better to have fewer policies, less fees and expenses related to the policies. But, if you are not responsible for your husband's death, the policies should pay out in the event of his death.

I hope that helps! Best of luck to you and your husband.

P.S. - Do you have life insurance on yourself? If not, you may want to consider it for your husband and family's sake.

Caroline Said:

Would a central database of life insurance policies be a good idea?

We Answered:

I think you're going to have a hard time implementing this.

See, you want life insurance companies to PUBLISH their customer list? What's going to happen, is those names will be harvested/sold - after all, these are people who have already been convinced that they NEED life insurance. Customer lists are protected as trade secrets.

Additionally, life insurance is NOT federally regulated. It's regulated on a state by state basis.

Also, 95% of life insurance policies, of ANY kind, stay in force less than five years. Keeping the database up to date, is a logistical nightmare. Then, you've got the privacy issues.

70% of people die WITHOUT life insurance in force. That's just how it is. Do an informal survey of your family - list ALL members over 18, and ask them if they have life insurance. Start with you! Do you have it? If so, how many different family members know WHERE to go, for your will and your life insurance information??

The problem with "lost life insurance" policies, is twofold:

1. most people looking for a lost life insurance policy, have nothing concrete to go on - they're just "hoping" to find some money out there.

2. if someone HAS life insurance, they tell the people they want to know about it, about it. But nothing brings out the greed and selfishness, like distant relatives demanding large cash payments when you die.

3. The records ALREADY exist. Honestly. Because if you HAVE life insurance, you have to PAY for it. So, look at the banking statements!

4. Family members having the ability to search out life insurance. Can you picture what would happen? I can. The spouse, a second wife, would have lawsuits filed on her from the adult children of the first marriage, because they believe their half siblings who are minors aren't as entitled as they are. The aunts and uncles would all join in, so they could "get their share". Grandkids, too. NOTHING brings out the animalistic greed in people, like a pot of money that they think is waiting to be "claimed". It would be A MESS.


So, this would be extremely expensive, generate lots of unsolicited calls to the policyholders, generate lots of unhappiness from the companies whose customers are being stolen, destroy families, and it's completely NOT NECESSARY.