Life insurance is one of the most effective ways to ensure your family is protected. Should you suddenly become incapacitated or pass away, life insurance funds can be paid at once to the named beneficiaries without any concern about taxes or delays related to probate. However, when buying a life insurance policy, the one person who truly has your back is your agent.
Every life insurance company and individual policy varies in the terms of the policy, cost, and exclusions. However, the most common exclusions and provisions found in life insurance policies include:
- Failure to disclose a known health condition. If you buy a life insurance policy and have a health condition that you don’t reveal, the life insurance company has the right to contest the payment of benefits.
- Accidental death life insurance policies only cover accidental death, not death from natural causes, illnesses, or diseases. It is advised that you are covered for all eventualities, rather than only accidental death.
- Exclusions for illegal or intentional acts. Many policies have an exclusion in which the death benefit will not be paid if you die while under the influence of drugs or alcohol, or while committing an illegal act of any type.
Your Life Insurance Agent Can Help
When purchasing the right life insurance policy, get help from one of our friendly local agents at North Carolina Health Plans in Raleigh, North Carolina. Your policy can be customized to meet your specific requirements and lifestyle choices.
We work closely with each of our clients, and always seek the best coverage at the lowest rates, as well as discuss the policy exclusions, so you know before you go.