Murder – suicide cases are extremely tragic. They involve an act in which a person kills one or more other individuals before, or at the same time as, killing him- or herself.
Murder-suicide cases can take many different forms and usually involve family members, relatives and friends. Often, the surviving family members’ grief associated with several deaths is compounded by the insurance company’s denial of their life insurance claim.
People purchase Accidental Death insurance hoping that coverage would exist if they die due to accidental means. The interpretation of the words “accidental means” has been a subject of heated debate in the insurance industry and courts across the country.
Insurers tend to claim that the definition is a very narrow one and does not include cases where there is a chance the death was caused by an illness, intoxication or a self-inflicted injury. One of the most complicated issues of AD&D coverage arises in cases of death resulting from autoerotic asphyxiation (AEA).
For many of us, traveling is an indispensable part of our lives. Whether we travel for business, go on vacations or visit families in other states and countries, we care greatly about safety of our trips. Mishaps and accidents do happen, however.
Many employers requiring business travel from their employees offer wide protections when it comes to trip coverage. Still, it is not rare for frequent travelers to obtain private common carrier insurance.
Generally proceeds from a life insurance policy are not taxable income. The following is a list of most common scenarios concerning life insurance coverage.
Thousands of people purchase new life insurance policies every year. After they make a premium payment, purchasers desire immediate coverage. However, most life insurance companies do not authorize their agents and brokers who sell insurance policies to the public to make commitments which can only be terminated by an insurer when the premiums are not paid.
The responsibility for deciding whether to issue life insurance policies is usually vested in underwriters. They decide whether to accept an application, whether to issue an insurance policy for a certain amount of coverage and how much to charge for the coverage.
Life insurance is essentially a contract between the insured policyholder and the insurance company. Payment of insurance benefits is governed by the policy terms and state or federal laws. The benefits are usually paid to the beneficiary designated in the policy. However, often, someone other than the named beneficiary may have a valid claim to policy proceeds.
The most common examples are disputes involving current or ex-spouses, children from different marriages, the insured’s possible lack of capacity, undue influence of the insured to change a designation or the insured’s improper efforts to change a beneficiary designation.