I have a life insurance policy, is it automatic ...

I don't understand your question.I can only tell you that there are 3 ways you can get money out of a life insurance policy.

1 when you die the policy wiil pay the death benefit to the beneficiary

2 If there is some cash value ,you can request a surrender of those monies ( this may shorten the length of time the policy will stay in force .It can also reduce the death benefit by the amount withdrawn).

3you can get a loan based on the cash value,however the amount of the loan will be deducted from the death benfit unless the loan gets fully repaid.

A life insurance policy will payout on a claim that falls within the terms and conditions of the life insurance policy. There are some exclusions which usually apply to a life insurance policy, such as, suicide within the first two years (one year in Colorado) of owning the life insurance policy. If you have questions about what causes of death are covered under your life insurance plan, you can contact your life insurance agent, call the insurer, or review the terms, conditions and exclusions within your life insurance policy. Life insurance policies usually pay out a death claim for death resulting from an accident.

Thanks - I am concerned that an insurance company could use the small print in their terms and conditions to avoid paying out.

All newly issued life insurance policies have a two year period of contestability.  Generally, this means they will not paid within that time if the insured dies through suicide, or there was fraud in the application.  Fraud is usually defined as a material misstatement of fact. Hope this helps.

No nao all of them some will only pay you back your premium ok say you got the policy 6 months ago the person passes away, and your policy was 40 dollars a month you will only get 240.00 back if i'm not mistaken you must have the policy at least two years, befor you can file for the full amount the policy is worth. Please feel free thanks and have a blessed day.

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Whenever you have to check for the Insurance Coverage, just check immediately after the incident/accident from the insurance agent or the company about it. As the policies and coverage part varies from one company to other and also from one plan to the other.
 
It is best advised not to takr any firm statement in this regard from others but take advise from your insurance agent and based on what he says, check the policy clause for the same and you    can use internet also for checking the policy coverage about that company on your requirement.
 
 

Life Insurance cover only death & survival. Incase you are disable and in the rider you have selected the term rider for disability you will have to be paid

It's good to have life insurance