Invalidating life insurance

What that means is that an insurance company claims it did not receive a premium payment on time and, therefore, terminated the policy.

Never give up on your claim if your insurance company denies a claim based on a lapse.

For family members in general, two policy clauses can come into play when someone they love dies by his or her own hand.

If either clause is invoked by the insurance company, the insured person’s family would receive no death benefit, though they would get back the premiums paid for the policy.

For insurance purposes, there is no real distinction between casual and regular nicotine use. Tobacco policies are issued with a higher premium than non-smoker policies, no matter how good your health might be aside from the smoking.

There are some situations, however, in which you will find yourself facing some difficulty as a result.The health risks of smoking have been well documented and insurance companies protect themselves from this higher risk by increasing rates for tobacco users.Failure to disclose your smoking habits to your insurance company when you apply for a life insurance policy constitutes fraud, and could result in your policy being cancelled or a claim being denied.Having to deal with a denied insurance claim in the face of such a tragedy is an added devastation that one would hope not to deal with.The insurance company may or may not pay the beneficiary of a life insurance policy in the event of a suicide depending on the circumstances, the primary factor being the existence of two clauses found in a life insurance policy: .

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