Life Insurance

[capt1964]

Not sure if correct forum, I have been appointed as executor of my Aunties estate. She passed away on 24 Dec 2008. Have now started to gather up documents and arrange funeral etc. My question is, She has four Life insurance polices one started 23 May 2008 the others were taken out in November 2008 will these polices actually pay out or is there a period to qualify Thanks Capt

[flyingdoc]

It totally depends on the policy - some come into force immediately but most have a qualifying period - in the case of most guaranteed over 50 policies its something like 2 years before anything becomes payable.

 

You need to look at each policy, it should tell you in there.

[capt1964]

Thanks Flyingdoc. Ive given the policies to the solicitor to query

[pygmalion]

Flying doc is correct. Most normal life policies however will actually have no lead in period. that lead in period is actually for suicide.

 

In any event check the policy details and you will see the answer there. If there is an issue and you were not informed of it in the client paperwork at the point of sale you will be able to claim.

[capt1964]

Thanks Pygmalion. My auntie had actually gone into hospital for an operation and suffered a perforation of the bowel. I'm led to believe that this could not have been foreseen and was a complication during surgery