You have purchased an insurance policy to protect your dependents in the event that you are no longer there to support them. You assume that your beneficiaries will be able to collect the face value of the policy that you are paying on. It is scary to say but there are things that can nullify a life insurance policy and it is important to understand what they are and how to avoid them. Insure It All in Idaho Falls, ID is there to help you to understand all the ins and outs of life insurance policies. 

Lying on your application

Applications must be filled out truthfully.  If a lie is uncovered on your application your life insurance policy could be null and void. So if you are a smoker, just admit it and let the chips fall where they may. 

Not paying your premium

Life insurance is important coverage and letting it lapse because of nonpayment could take away your peace of mind. If you are having financial difficulties, call your policyholder and explain what is going on, usually, they have a grace period. 

Suicide

Most insurance policies will not pay if the insured commits suicide within the first two years after the policy is issued. This is done to discourage people who are contemplating suicide from taking out life insurance policies. 

Risky job or hobby

If you are a race car driver or your hobby is sky diving, you must disclose this to the insurance company on the application. Withholding this information can nullify your coverage. 

Moving out of the country

If you buy your life insurance while you live in the United States and then move to another country, your insurance company may not pay the benefit if you die while living there. 

Avoiding all of these things will help guarantee that if something happens to you, your beneficiaries will receive your life insurance. Stop by the office of Insure It All in Idaho Falls, ID or give them a call to discuss your life insurance needs.