Global warming may have already been lurking upon our own horizon for a number of years and historical records of terrorists have been around for thousands of years, however all of us are coming straight into a new age where we all attempt and financially protect ourselves against such difficulties and if we’re honest … we are struggling.
The recent terrorism attacks in London brought home the fragility of human existence to many Brits, who had in the past been able to distance themselves from terrorist activity. For the partners and offspring of city workers, the fragility of their finances also became apparent with the potential loss of a loved one alongside the loss of future income and possibly the family home.
It’s widely agreed that most life insurance policies ought to cover acts of terrorism, though most web sites (including the Association of British Insurers) do state that you simply ought to always, always read the small print, as there may be insurer-specific exemption clauses. It will probably be interesting to see what effect terrorism has on life insurance policy applications and whether there’s a rise in consumer interest as a result of terrorist attacks.
Certainly the indication so far is that life insurance policy applications will probably be treated rapidly and sympathetically in the event of a terrorist attack, reiterated by the Association of British Insurers (ABI) and Ginger Applegarth of MSN Money who stated that for insurers “to back out of paying a claim now would be considered unpatriotic and a marketing disaster.” In Applegarth’s column, she includes an “insurance checklist” of the fundamentals that you have to do when making a life insurance policy claim. She also states that insurers paid out almost $3 billion after the September 11 attacks in 2001.
Other life insurance policy exemptions might consist of lifelong illnesses like diabetes and epilepsy. Lifestyle habits for example smoking may or may not invalidate a life insurance application, but they will make it more costly. Always get your medical records assembled before you apply for life insurance policy, as this will save time and possibly cash as well. Once this information is assembled, you are able to begin assembling some personal quotes via life insurance comparison websites.
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