Question:
Term Life Insurance Question?
Elizabeth M
2011-02-02 11:58:03 UTC
I am going to the Middle East next month for 10 days.
I want to purchase life insurance before I go. If something happens to me on the trip could my family collect the life insurance money? Or is there a certain amount of time you have to have the life insurance before you collect? Would they be eligible to collect if I die in another country? Just a few questions to see if it would even be worth getting life insurance.

Thanks!
Four answers:
Chris C
2011-02-02 13:15:08 UTC
To buy a traditional life insurance policy sometimes the underwriting can take up to 3 months to get approved. If you are leaving next month, don't get your hopes up in getting a life insurance policy in place before you leave. One thing to also consider is the risk in some Middle Eastern countries. I don't know what part of the Middle East your are going to, but if you're going to a place like Egypt, Afganistan, and any other place where there is war or civil unrest, an insurance company could flat out decline your application based on that alone becuase it's a huge risk to them (you pay $100 for the first month, then they pay out $500,000 a month later if you die in the middle of a war zone in Iraq or something...they'd be taking a suckers bet on that).



Now, that being said, if you do apply and they do approve you, barring any specific exclusions, if the policy is inforce and you die in a different country, the policy would pay out as long as it's within the rules of the policies. Once a policy is approved the the first premium chck is cashed, it's in force and eligible to make a claim. If you bought a policy, got it approved and the check went through, then as you're walking out of your insurance agents office you get hit by a bus, it should pay out (obviously a very generalized explanation). Some policies have exclusions for suicide within the first 2 years, some exclude an act of war, etc. Every company offers different exclusions and policy options.



Check with a local broker to see what options you have. Every province/state/country has different options available to them. Also, check into travel insurance policies. These can be issued at a much shorter time period but the payout might not be as big...might only be a couple thousand dollars at most.
2016-09-11 04:33:33 UTC
I suggest one to try this website where you can compare quotes from the best companies: http://INSUREQUOTE.US/index.html?src=2YAwbrwrOG43



RE :Term Life Insurance Question?

I am going to the Middle East next month for 10 days.

I want to purchase life insurance before I go. If something happens to me on the trip could my family collect the life insurance money? Or is there a certain amount of time you have to have the life insurance before you collect? Would they be eligible to collect if I die in another country? Just a few questions to see if it would even be worth getting life insurance.



Thanks!

Follow 3 answers
2011-02-02 12:09:26 UTC
That depends on the specific terms of the policy. You can also investigate traveler's life insurance.
2011-02-02 12:03:15 UTC
ASk a TRavel Agent first, then an Insurance Agent.


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