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Christian Said:

How do I find insurance life policy for deceased ex-husband?

We Answered:

Here's my advice:

1) Call his employer and ask whether your ex-husband purchased group insurance there;
2) Check his bank statements and cancelled checks for at least the past year to see if he was making any electronic or check payments to an insurer;
3) Check his safety deposit box and personal papers.
4) Read his will, which may sometimes refer to insurance policies.
5) Ask his close friends, who may be able to give you information about insurance he mentioned to them.
6) If all else fails, you may be able to obtain limited information from the Medical Information Bureau. This is a company that acts as a database for medical information reported on applications for life insurance, and for information discovered by insurance companies during the underwriting process. You can go to: http://www.mib.com/html/request_your_rec… and click on "Policy Locator Service" at the bottom of the page.

I hope this helps.

Rachel Said:

Can I convert a Northwest Mutual Variable Life Insurance policy to a Term Life Insurance Policy?

We Answered:

Variable Life Insurance is not a good option, especially in economic times like now because of the possibilities of it coming back to haunt you like in your case. Most likely you won't be able to convert to a term product because of definitions and wording in most life insurance contracts. You will probably have to re-apply which is not the best option since you say your health is not too good. Now that it has been 15 years since your policy has been in force, and depending on the performance of the variable life product, you may have some significant cash values from which you can draw money from and make choices accordingly.

Kurt Said:

My Grandparents (deceased) took out a life insurance policy on my daughter.how can i find lost policy?

We Answered:

If they had a prepaid policy, SOMEONE would be getting statements on it, every year - the policy owner.

It would be extremely unusual to for a great grandparent to put this kind of policy on an infant great grandchild.

There is NO WAY to search at this point, unless great grandparents are recently deceased - and then the executor of the estate can look through their banking records, to see if 1. they were still making payments, usually once a month or 2. they've received an annual statement.

That's it. Banking records only.

You're probably asking, is there a database where you can plug a name in and search. And the answer to that is, no.

Lynn Said:

Can a life insurance company cancel a policy within the first two years of inception if suicide is suspected?

We Answered:

Most Life Insurance contracts have a two year "contestable" period. Any suicide during the first two year period will result in a refund of the premiums paid and no death benefit paid. After the policy has been in force for two years, a death benefit will be paid even in cases of suicide.

Brandy Said:

My father took out a $1,000.00 life insurance policy out on me in 1957, what's the interest rate?

We Answered:

all policies have a maturity date. life insurance will mature typically at 99 years old. there is cash value in this case so can't be term and i don't think there is unit link in 1957. this should be a participating whole life insurance which has not matured. but if you receive a check, it will mean that the policy matured. i am confused now. it is better to get the insurance company to explain to you.

Daisy Said:

Life Insurance Policy beneficiary vs Will benefeciary?

We Answered:

Life insurance and a Will has nothing to do with each other. Both are complete different documents.

In life insurance, if you die someday, your son will receive the death benefit.

In a Will, this is a list of your assets and you designate someone or multiple people to take it. You can also name someone to take care of your children, if that person chooses to take care of them. You might want to review your Will and make sure everything is in order in case you die.

Marlene Said:

If a diabetic applies for a no physical life insurance policy, will he be declined?

We Answered:

No, they won't.

Keep in mind, those policies have very low limits, AND, you have to live at least two years paying in, before it will pay out a death benefit. When you "run the numbers", you'll find that if you live more than 10 years or so, you've actually paid in more than the death benefit.

So it's not such a good deal, for most people.