total benefit after 2 years...regardless..

[dadrummer]

What is the name of your state? MS.
While recently reviewing a whole life plan, of which the same general questions were asked, i.e. heart problems, cancers, etc, in the previous 2 years, I also noticed a clause that stated, in effect, that after 2 years the total benefit would be paid regardless of cause of death. Does this sound correct?

 

[cbg]

Are you saying that the policy says that as long as death does not occur until two years after the issuance of the policy, it will be paid in full regardless of the cause of death? If so, yes, that sounds correct.

 

[dadrummer]

I apoligize for not being more specific and yes, if death occurs 2 years after the issuance of the policy would the total benefit be payable. Thanks for the quick reply.

 

[CIAA]

dadrummer,

Sounds like you are refering to a regulated policy provision dealing with "incontestability" also called "time limit on certain defenses" (usually 2 yrs.). You must be sure to analyse this provision within its full wording and intent. It may also be subject to other named exclusions (ie., suicide, self inflicted injury, act of war...")