Joanie lives in Mobile, Alabama, she loves the Mobile Botanical Gardens and finds its fascinating. She called me today and wanted to know “What is the face value of a life insurance policy she has in Mobile, Alabama?”

In Mobile, Alabama, the Mobile Center contains three facilities under one roof. The 400,000 sq ft building has an arena, a theater and an exposition hall. It is the primary concert venue for the city and hosts a wide variety of events. Mobile, Alabama is also the home to the Mobile Opera and the Mobile Ballet.

The face value of a policy is the amount of life insurance that is stated on the front page of the policy and it is the death benefit. At the time your claim is filed, you might get paid less than the Face value if there has been a loan or loans against the policy. You will of course get paid double the face value in case of an accidental death. Some policies pay dividends.

Readers Question: “Will your life insurance agent in Tuscaloosa, Alabama tell you if you have been denied life insurance?”

Catherine

Tuscaloosa, Alabama known as the home of The University of Alabama. Did you know that Mercedes-Benz built its first automotive assembly plant in North America in Tuscaloosa County.

Answer to Readers Question: Yes, it is an obligation of your life insurance agent to call you and tell you that you have been denied life insurance. And you should also receive an official letter of declination directly from the insurance carrier. Remember, if one life company turns you down for a policy, try another company. You might also want to check on group life insurance as well.

Lorraine asked me to find out “What happens if a man dies in Huntsville, Alabama, and he does not have a life insurance policy?

Estimated population is 168,216 in Huntsville, Alabama. In November of 1989 there was a tornado which killed over 20 people. Huntsville is the largest city in northern Alabama and its main economic influence is derived from aerospace and military technology and is fast becoming a regional retail center.

My answer to Lorraine is that is someone dies in Huntsville, Alabama and he does not have a life insurance it is not a big deal.

The spouse of a deceased person is only responsible for said person’s debts if the couple resided in a community property state or if the debts were jointly incurred.

Madge e-mailed me yesterday from Hoover, Alabama, asking me if “You can get your money back from a lapsed Life Insurance policy?”

Hoover is the home to the Riverchase Galleria, this complex includes shopping, hotel and office space.

Whole Life Insurance policies that have lapse due to non-payment will in most cases be cancelled.Whole life insurance typically requires that the owner pay premiums for the life of the policy, but there are some arrangements that let the policy “be paid up” which means no further payments are every required.

Usually there is a provision that is called the Automatic Premium Loan that takes money out of the cash value to pay premiums if you stop making your premium payments. This is a safety method, because most people do not consciously stop paying on their policy especially when there is a cash value. If you have allowed your policy to lapse it means your cash value is empty, sorry, no money for you.

Joan wanted to know: “If it is legal to take a life insurance policy out on a common law husband and get paid if he dies?”

Dothan, Alabama is the home to the National Peanut Festival which is held each fall to honor peanut growers and to celebrate the harvest.

Yes, as long as he consents to the policy that is being issued. I would have him talk to the insurance agent before you purchase a life insurance policy on him. But to claim that he is your common law husband you must establish that cohabit, have the same address and might need to prove that you have lived together for a number of years.

Robert wanted to know “Can I continue a life insurance policy on his ex-wife if the policy was started early in the marriage and I am the owner who pays the premiums”?

Did you know that the city of Decatur rarely experiences tornadoes druing the spring an fall. Significant severe weather does occur from time to time in the active season. Winteres usually do not produce much snow.

Yes, you can continue a life insurance policy on your ex-wife. But if you purchase a new policy after your are divorced you only need to show “Insurable Interest” when the policy is taken out.

In relation to insurance, the law prevents people taking out an insurance contract on someone else’s life (or someone else’s property) unless they have a legal or financial insurable interest in that life.

Valid forms of insurable interest include being a spouse, being financially dependent on the person, or situations where there is joint ownership of real property or a business.

Sally lives in Birmingham, Alabama and she contacted me to ask me “when filing an insurance claim should documents be received from the insurance company before sending the death certificate”?

The population of the city of Birmingham is 242,820. It is the largest city in the U.S. state of Alabama. Birmingham is home to several museums and the largest is the Birmingham Museum of Art, which is also the largest municipal art museum in the Southeast.

The first step is get several copies of the death certificate. Contact your Insurance Company they will help you fill out the necessary forms needed. Be ready to supply the following information: Name, Date of birth, Date of death , policy number. If you are not the policy beneficiary, you may have to provide the beneficiary address. After you talk to an agent you will be told of what they require from you to process your claim and I would follow this conversation up with a letter mail it to them and keep a copy of all the documents that you mailed. In some cases they may want to send you forms to fill out.

Typically these requirements include a request for a certified copy of the insures death certificate and a claim form completed by the beneficiary.

Once your claim is submitted, a settlement should be issued to you shortly. You may have to choose how the proceeds will be distributed.

1. Lump sum
2. Specific Income Provision
3. Life Income Option
4. Interest Income Option