What Some Life Insurance Companies in Kansas May Not Cover
Are you looking for coverage from life insurance companies in Kansas? If so, there are a few things that aren't covered by typical policies. And there's a reason; put simply, these companies have to limit their risks to enable pay out of all of the claims they receive, and they can't do that if they cover every cause of death.
Death Due to War
If you happen to perish as the result of engaging in war or activities related to war, chances are that a conventional policy will exclude this type of death. However, the insurance company will pay your beneficiary the amount in premiums that you paid out.
Believe it or not, there is exclusion for aviation. If you should happen to pass away while you are a passenger in a private plane, no policy benefits will be paid out. But this does not extend to commercial flights that you may be a passenger on at the time death occurs.
If you enjoy engaging in extreme sports like hang gliding, rock-climbing or auto racing and you pass on while participating in these high-risk activities or as a result of them, you will be excluded from coverage by a typical policy. Special coverage is available if you should happen to enjoy engaging in these activities on a regular basis.
As with death due to war, suicide represents another instance of death that can be excluded from common insurance coverage. In fact, suicide is often included as a clause on most conventional policies whereby benefits will not be paid out if the individual named in the policy commits suicide within a period of time specified on the policy.
Your Beneficiary's Options If Not All End-Of-Life Costs Are Covered
Should your beneficiary find that not all end-of-life costs are covered by your policy, there are some things they can do. Finding out what payments are mandatory should be first on their list. They may find that there are some debts that they aren't legally responsible for, despite the urging they may receive from creditors. Consulting a legal professional to see how to handle those debts which are not their responsibility to pay is a good idea.
If A Large Amount Of Debt Is Theirs to Pay
Should your beneficiary receive the unfortunate news that they must pay most of the costs left behind by you, they can investigate whether any help is available from the government to help them repay or reduce their new debts. Researching programs government-sponsored programs to help them regain their financial footing is a good initial step.
Speaking to creditors directly may offer another solution. Once your beneficiary has created a list of account holders, they should get in touch with each of them to let them know what has happened. Their contact will be rewarded by some kind of agreement. They may receive offers to freeze their interest rate, reduce the owed amount, or perhaps even to erase the debt in its entirety.
Even though your death may have left behind debts that are now in another's hands, a little patience and know-how can reduce or eliminate these amounts entirely. Online resources for information about how others handled their own 'surprise' debts will be helpful.
The best time to ask these types of coverage questions from life insurance companies in Kansas is before you sign on the dotted line. We can help. Our easy-to-use resources can get you started with basic information, and help you identify important questions to ask up front.