Does life insurance cover you when you are out of your home country?
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6 Responses
1.31.2010
To answer your question, yes, your life insurance will remain in effect while you are overseas. However, life insurance has what is called a contestability period that lasts for two years. In that period of time the insurance company can contest the death benefit if they can establish that you withheld information that would have made them deny coverage. The company could try to establish that you knew you were heading to a war zone and you withheld that information. On the other hand if you are taking a vacation in Italy or France the company would be hard pressed to prove that they would have not issued your policy.An extreme example would be the situation where your doctor tells you that you have cancer so you immediately apply for life insurance. You later die of cancer. The company could try to rescind the coverage contending that you knowingly withheld that information in your application.If you have already had the insurance in place for two years it doesn't matter that your overseas trip is to a war zone or that you decided that skydiving is your new passion. Source(s): 35 years of insurance industry experience
1.31.2010
it depends on the company norms. but most of the life insurance policy dusnt have this clause i.e, it wont cover ur life when u are out of ur country. for that they have separate insurance policy. that has been built specifically for this reason. ok.
1.31.2010
It should. But it may depend on where you're going. If you are going someplace that may be considered a "war zone", then there could be a clause in the contract that exempts a payment under that circumstance.
1.31.2010
It's going to depend on several things, including WHERE you move to, and if you had plans to move, or suspected you would move, and didn't declare it on the application. Source(s): agent, 21+ years
1.31.2010
The only company that does not have a travel question is Liberty Life. go to http://www.Reduce.com and get a quote.Most other companies do have that and if you travel and if something happens to you, the can contest the claim.Contestability is only for two years, so once the two years is over, they cannot contest the claim and you will be paid. Source(s): Reduce.com
1.31.2010
Generally, yes. Your policy may have a war exclusion clause which usually isn't a concern, but if it is, check around to see who doesn't have it (or shoot me an email). Also, if you had the intent of moving when you took it out, were not truthful on the application, and are still in the contestability period, this may be problematic. There are ways to get around foreign travel questions, but it's complicated (certain states and companies).