Life Insurance Quotes Seattle: Finding Loopholes

You must do your own act to find the best and suited policy for you. Most people find the convenience of doing and finding Life Insurance Quotes Seattle online. Yes, I agree. There are reliable websites one can visit to get a quote and FAQ’s of a certain insurance company. Once you have gathered enough details of the company, you need to establish a contact with an insurance agent to clear things out. After all the discussion, you are ready to decide. It will be up to you to speak to a different insurance agent from a different insurance company until you are satisfied. In the event that you have chosen your insurance company and your policy, you are ready to sign up the contract. But not yet, please read every detail of the contract most especially the exclusions. Underneath the exclusions are loopholes that can make an issue for your family during their claims of your benefits. So before that happens, understand the exclusions for you to get yourself prepared.

Finding the Exclusions

It is not enough to read only the contract and its exclusion. You should also be familiar with the legality of the exclusion presented to you, because exclusions are limited by your State Insurance Department and Law. Aside from the Life Insurance Quotes Seattle made available online, the National Association of Insurance Commissioners has its own online website for you to check the different contact information by the Insurance Department in all the 50 U.S. states and territories. Are you familiar with the “contestable period”? This is a period where the insurance company still has the right to deny or cancel your coverage and claims after the death of the policyholder if there are omissions on your application. The contestable period is two years from the issuance of your policy or life plan. Say for example, the insurance company can contest your claim if they can prove that you are smoking but yet you fail to include that on your policy application. Another good example is in the event of your sudden death due to a skydiving accident. In the data you have entered on your application form, you fail to enter that you are an active skydiver. If your death falls within the contestable period, the permanent life insurance Seattle company can deny your death claims because of the so-called “material misrepresentation”.

What’s Material Misinterpretation?

It is your statement showing that you have honestly and fully disclosed all relevant information on the application of a certain life insurance plan, but fails to do so. This is an intentional withholding of your information keeping away the insurance company to determine your right for an approved policy. Thus, it’s always important to state and include every detail of your life’s activities honestly to safeguard your coverage. You don’t want to end up getting insured but not being insured in the long run. The Life Insurance Quotes Seattle is a good start to determine loopholes.