How does life insurance work after you die?

Once you have passed away, your beneficiary would need to contact your life insurance company and make a claim on your policy in order to receive the death benefits from your insurance.

That's why it is so important to make sure you let your beneficiary know that you have life insurance, where the policy is located, and what to do once you've died, so they can get the proceeds from your life insurance.

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No. If you answered all questions truthfully on your application for life insurance, the coverage cannot be taken away if your health changes. 

Once the life insurance policy is approved by the insurer, and you have made your first premium payment to the insurer, the coverage is In Force. 

It can be cancelled if you contact the insurer and request cancellation, or if you stop paying your premiums and the coverage lapses.

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Yes, it is possible tp purchase a life insurance policy if you are over eighty years old.

However, some insurers may not offer life insurance to people over 80.

In addition, some insurers may only offer guaranteed issue life insurance plans to people over 80.

Guaranteed issue life insurance may be available for people ages 45 to 85.

It guarantees your acceptance for life insurance if you meet the age requirements for approval, and you can pay the premiums.

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Yes, it may be possible for someone who has been diagnosed with cancer to purchase life insurance.

However, it will depend on the requirements for acceptance of the insurance company.

Several factors will be considered including your age, overall health, type of cancer, how you manage your cancer, your medication, chemotherapy, other treatments, prognosis, when you were diagnosed, etc.

And, if you are turned down for traditional life insurance policies, you may still be able to get insured with ...

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How can I purchase a life insurance policy if I have applied to an insurer and been turned down?

There are a couple options that may work for you.

You could contact a life insurance broker who specializes in placing life insurance through high risk insurance companies for people who have been denied insurance.

Or, you could get guaranteed issue life insurance if you meet the age requirements for approval.

In addiiton, you may be able to contest the medical exam results, or ask for another exam, i...
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First, whether you need life insurance at any given point in time is based on you individual situation, future goals, and needs.

For most people, life insurance may be needed after they retire, since life insurance creates cash at death.

Some uses for life insurance after your retirement are to help pay for your burial, funeral, and other related final expenses, pay taxes upon your death, and other business estate or legacy planning purposes.

In addition, cash value (perman...

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Yes, most people who have had a heart attack may be able to qualify for life insurance coverage.

If you were under age 40 when you had your heart attack, you may need to settle for a guaranteed issue life insurance plans or simplified issue life insurance coverage.

If your heart attack was at an older age, your heart function is still good, you have addressed any issues that led to the heart attack (CAD, diet, etc), and several years have passed since having your heart attack,...

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Have you been turned down for a life insurance policy? 

There are many reasons people may be turned down for life insurance coverage; such as, due to your age, health, driving record, use of illegal drugs, etc.

However, if you have been turned down when you applied for coverage, you may still have other options available to get insured.

For instance, guaranteed issue life insurance plans offer no exam life insurance with a limited amount of life insurance coverage available. In fact, some plans ...
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Yes, you may be able to get life insurance after having a heart attack.

Whether or not you qualify for life insurance may depend on several factors, including but not limited to:

1. How long ago was your heart attack?
2. Have you made a full recovery?
3. Did you have heart surgery?
4. Are you on medication?
5. Do you have regular check-ups?
6. Your Age.
7. Your height-to-weight ratio.

Although you may or may not qualify for a regular life insurance policy, there are guaranteed issue life insurance pla...
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