Alan Turner

[aturnes]

What is the name of your state (only U.S. law)? Pennsylvania
If life insurance is the two year contestability period and denied for
health records, on single premium life insurance, does the original
premium have to made payable to the estate and not the beneficiaries?

 

[HomeGuru]

What is the name of your state (only U.S. law)? Pennsylvania
If life insurance is the two year contestability period and denied for
health records, on single premium life insurance, does the original
premium have to made payable to the estate and not the beneficiaries?

**A: original premium?

 

[Betty]

What is the name of your state (only U.S. law)? Pennsylvania
If life insurance is the two year contestability period and denied for
health records, on single premium life insurance, does the original
premium have to made payable to the estate and not the beneficiaries?

If the insured dies during the 2 year contestable period & the claim is denied, the full face amount of the ins., of course, will not be paid to the beneficiary/beneficiaries. However, "most" companies as a compromise/courtesy will return any premium(s) paid on the policy before death to the beneficiary/beneficiaries. A few may return the premium(s) pd. to the estate of the insured. Just about all (if not all) policies have a policy provision regarding what happens if the insured dies during the contestable period & the claim is denied. You will need to check the specific provision of the policy to see what it says. I can't give a definite answer since I don't know what that specific policy/policy provision says.