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What to do if a life insurance claim is denied?

Life insurance provides financial security for your loved ones in the event of your death. However, there may be instances where a life insurance claim is denied. It is crucial to be aware of the step...

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What is the Medical Information Bureau?

The Medical Information Bureau (MIB) is an organization that gathers and stores medical information about individuals in the United States. This information is then shared with insurance companies to ...

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What is the life insurance waiting period?

Life insurance is an essential tool for providing financial security to loved ones in the event of a policyholder’s death. One crucial aspect of life insurance that policyholders should be aware...

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What is the “Slayer Rule”?

The “Slayer Rule” is a legal concept that governs the inheritance rights of individuals who are responsible for the death of another person. Also known as the “slayer statute” ...

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What is temporary life insurance?

Temporary life insurance, also known as term life insurance, is a type of insurance policy that provides coverage for a specific period of time. Unlike permanent life insurance policies, which offer c...

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What is Life Insurance Retirement Plans (LIRPs)?

Life Insurance Retirement Plans, commonly known as LIRPs, are financial tools that offer a unique way to save for retirement while providing the added benefit of life insurance coverage. This article ...

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What is life insurance fraud?

Life insurance fraud is a serious issue that costs insurance companies billions of dollars each year. It involves individuals or groups conspiring to deceive insurers for financial gain. While there a...

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What is insurance underwriting?

Insurance underwriting is a critical process in the insurance industry that involves assessing risks, determining premiums, and establishing policy terms and conditions. Understanding the basics of in...

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What is insurable interest?

Insurable interest is a fundamental concept in the world of insurance. It serves as the basis for determining whether a person or entity has a valid stake in insuring a particular risk. In this articl...

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What is instant life insurance?

Instant life insurance is a type of life insurance that provides coverage immediately upon application approval. It offers a quick and convenient solution for individuals looking to protect their love...

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What is group life insurance?

Group life insurance is a type of insurance that is provided to a group of individuals, typically employees of a company or members of a professional association. It offers financial protection to emp...

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What is evidence of insurability?

Evidence of insurability is a critical aspect of the insurance industry that plays a significant role in determining the coverage and premiums individuals can obtain from insurance policies. It involv...

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What is credit life insurance?

Credit life insurance is a specific type of insurance policy that provides coverage for outstanding debt in the event of the policyholder’s death. This type of insurance is typically offered by ...

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What is cash value of a term life insurance policy?

Term life insurance is a type of life insurance policy that provides coverage for a specified period of time, typically ranging from 10 to 30 years. Unlike permanent life insurance policies, term life...

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What is cash value in life insurance?

Life insurance is a crucial financial tool that provides protection and security for individuals and their loved ones. It offers a payout, known as the death benefit, to beneficiaries upon the policyh...

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What is an in-force life insurance illustration?

Life insurance illustrations are valuable tools that provide policyholders with a detailed overview of their existing policies. These illustrations allow individuals to assess the performance and proj...

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What is an AM Best rating?

Insurance is a complex industry, and it can be difficult for consumers to determine which insurance companies are reliable and financially stable. This is where AM Best ratings come into play. AM Best...