Friday, 26 July 2013

How can I ensure my ex-spouse will pay the premiums of the life insurance policy?

The beneficiary spouse should attempt to monitor the policy to confirm that it remains in force. A replica invoice could be requested for the beneficiary ex-spouse. Some carriers may offer an automatic notice when the premium is paid. If not, the beneficiary ex-spouse may simply be able to call a toll-free number some time after the premium notice has been received to authenticate actual payment. This is important because if the policy lapses and the insured ex-spouse is no longer insurable, there may be a substantial problem...read more

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