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My father has just been diagnoised with a terminal illnes his Dr. gives us between six and eighteen months. My father has a term life policy I cannot find the policy to figure it out can anyone explain it to me. Can they cancel him now, he has been paying on this policy since I can remember.
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Re: terminal illness and insurance
doesnt anyone know anything about insurance Iam afraid to call the company and ask until I know something so I dont sound a dumb as I feel right now -
Re: terminal illness and insurance
As long as his premiums stay current, I wouldn't think they could cancel him. They would, of course, not be anxious to renew him either. It makes sense if it hasn't already been done to make up a "disaster file" so you have everything on hand you will need when your dad goes home. The difference between term and whole life insurance, as I understand it, has to do with the policy length. Term must be renewed after a set period, at which time you hope to be insurable. With whole life you don't have to pass an insurability test once you've gotten the policy. I might call the company that issued the policy and say that I'd like to review it for my dad, and then you can check out everything you need to. Hope this helps, but I'm no insurance maven!Comment
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Re: terminal illness and insurance
First off, please let me say how very sorry I am to hear about your dad.
this is not my area of expertise, but I don't see there being a problem here. There is no need to tell the insurance company that he has been diagnosed as such at the moment. Simply call them and say that due to an accident (or something) you lost the original policy and would like a copy.
Once you have the insurance in front of you, you can determine what it does and doesn't cover.Comment
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