What are Common Exclusions to a Life Insurance Policy?

What are Common Exclusions to a Life Insurance Policy?

Life insurance is a significant way to ensure that the life of the insured is financially protected. This is a mode of extending monetary assistance to the family of the insured upon death. This money may be used for the payment of the debt, mortgage and other similar in nature.

That being said, life insurance has the advantage to secure financial protection for the insured’s loved ones. Basically, when the head of the family dies the burden of facilitating his burial is being shouldered by the spouse and children that usually includes all the expenses relating thereto.

In this relation, having life insurance can be very good value and it is strongly advised to set aside a small amount of money a day to provide your loved ones with the financial need that will help them survive their daily needs. But it is highly recommended to get hold of a comprehensive policy to avail a higher insurance claim though.

On the other hand, people still do not know when to subscribe for an insurance policy. It is strongly recommended to purchase life insurance when you are under 35 years old because most of the people in this age group can already afford life insurance.

There are common exclusions to the life insurance policy, which includes risky or dangerous activities like car racing and the like.

The Most Common Life Insurance Exclusions:

  • The Contestable Period – this refers to the period where the omission has been undertaken by the insured such as the deliberate act of lying about the insured’s medical condition.
  • Material Misrepresentation – it reflects the malicious withholding of vital information that may significantly affect the life insurance claim;
  • Alcohol and Drug Use – basically the use of these substances may reduce the insurance claim if not totally revoke the insurance policy;
  • Illegal Activity – insurance subject should be secured and aligned with the existing law of the country;
  • Suicide – this self-infliction act is not within the coverage of life insurance within the policy’s first two years.

Issues are usually being raised during the determination of whether or not such death is within the standard coverage set by the insurance company and the insured.

A subscription to comprehensive life insurance is very important because the pertinent insurance claim will be able to help the family of the insured from the financial burden especially caused by the death of the insured.

If you are looking for a trustworthy and professional life insurance company, it is highly recommended to avail the services of John Perry Insurance. We are one of the most reliable insurance companies in Florida.

We have been helping businesses and individuals for more than 25 years to get hold of an insurance policy that suits their budget, that is, a policy that is perfect for their needs.

For your needs about life insurance, comprehensive life insurance and even flood insurance.

For all your queries and other concerns, you may contact us through our telephone numbers:

  • 863-777-4966 (Clewiston),
  • 239-204-3211 (Fort Myers),
  • 863-588-7336 (Labelle),
  • 863-824-5393 (Okeechobee)

Our dedicated coordinators await your call in order to ensure your utmost satisfaction. Get comprehensive homeowners and flood insurance policies from John Perry Insurance today.

Close Menu
shares