Life insurance Question?

Question

If someone has cancer and THEN gets life insurance, will it be distributed to the persons they name?

Answer 1

The other respondents are making a valid point, but not answering your question. Of course, it will be extremely difficult to obtain life insurance with terminal cancer (or most any currently active cancer), but if in fact the policy is issued, the death benefit can ONLY go to the beneficiary named by the policy owner. Under no circumstances does anyone else have a legal right to the money.



An important clarification is in order. One answer stated that if is found that the insured lied on the application, the death benefit would be forfeited. This is absolutely false - sort of. If fraud is suspected by the carrier within the policy's contestability period (two years in most states; the policy will state the period), the policy will be re-underwritten using the medical records and evidence leading to the death. If it is determined that, at the time of original issue, the policy should have been rated, the increased premium due will be deducted from the death benefit. If is determined that the policy should have never been approved, the policy will be rescinded and all premiums refunded to the policy owner or his estate. Again, this only occurs if it is determined that the applicant commited fraud (by an accepted legal definition) and only if death occurs during the contestability period. Otherwise, the death benefit WILL be paid.

Answer 2

You get life insurance first. You can have cancer and get life insurance but the premiums might be really high. And, you can only get life insurance if your cancer free for a certain amount of years. But that varies by company. But as long as you do not lie on the application and you survive 2 years, the insurance company will pay.

Answer 3

If the person lies and says that they don't have cancer, then no.



If the person tries to get normal life insurance and tells the truth about having cancer, they won't be able to get insurance, so no.



If the person buys guaranteed issue life insurance and lives for at least two years after buying it, then yes.



If the person buys guaranteed issue life insurance and lives for less than two years after buying it, then only the amount that they paid for it will be distributed, not the regular benefit.

Answer 4

Purchasing life insurance once diagnosed with something as serious as cancer is very difficult. Most insurance companies will deny coverage to someone already seriously ill. At best, you'll be able to buy the coverage but at an extremely high rate.



As for who the beneficiary is, that's up to the insured person to decide.



Your best bet is to call a few insurance agencies and ask for quotes. Be prepared to be turned down.

Answer 5

Term insurance -the place coverage is bought for a specific period (probably a yr, or for level durations comparable to 5, 10, 15, 20 even 25 and 30 years) the place a demise benefit is handiest paid to the beneficiary if the insured dies for the period of the distinctive interval. On survival nothing is payable permanent lifestyles coverage is a form of life insurance comparable to entire existence or endowment, the place the coverage is for the lifetime of the insured, the payout is assured on the finish of the policy (assuming the coverage is saved current) and the coverage accrues money worth.

Answer 6

I advise to you to look for a site, with articles on a theme interesting you. Get more info about life insurance plans for different insurers: lifeinsurers.01lx.net

Answer 7

It depends wildly on 1. whether or not they disclosed the cancer on the application 2. whether the carrier agrees to cover the potential death by cancer and 3. how long the policy is in force.

Answer 8

Usually when you apply for life insurance, they will ask a few health questions.



If you answered no and then pass away, the company might request when you were diagnosed. If they determined that you lied - your money usually will be forfeited.



Depending on your age, some companies will offer a small amount

Answer 9

I would recommend one to visit this website where you can get quotes from different companies: http://INSUREQUOTE.US/index.html?src=2YAhdxtrMN31



RE :Life insurance Question?

If someone has cancer and THEN gets life insurance, will it be distributed to the persons they name?

Follow 9 answers

Answer 10

If they have terminal cancer, it's extremely unlikely that they would be able to buy life insurance.