Risks are unpredictable, so more and more friends choose to buy an insurance to deal with risks.
Among them, the risk of death is distressing for many people, which requires a life insurance to deal with it.
Life insurance can indeed better cope with the risk of death, and buying a whole life can also have long-term protection.
So, if you die of natural causes, how will whole life insurance be claimed?
What is covered by whole life insurance?
Whole life insurance, as the name suggests, is one that provides lifelong protection.
If we die or become totally disabled at any age, the insurance company can pay the benefit.
Of course, this age is said to be any, but in fact there are limitations. Generally to the terminal 100 years old position of the life table.
And if we survive to the age of 100, the insurance company will pay us a sum of money.
In this way, the coverage of whole life insurance is still very wide.
The first is to have a lifetime of protection and pay a surrender benefit when the policy lapses.
It is also flexible enough to withdraw the cash value of the policy by reducing the policy, convert the whole life insurance policy into a term life insurance policy, or even convert it into an adult annuity insurance policy when you retire.
(A mini program has been added here, please go to the Toutiao client to view)
If I die of natural causes, how will the insurance company pay the claim?
Natural death is covered by a whole life insurance policy, so it will definitely be paid.
However, the scope of the contract terms may vary from one insurance company to another.
If the insured dies within the validity period of the contract, the insurance company will require the beneficiary of the policy to provide the insured's cremation certificate, the certificate of household registration cancellation by the public security organ, and the medical death certificate issued by the hospital.
After the review is approved, the death benefit will be paid to the beneficiary.
Of course, it is important to note that whole life insurance will also have some exclusions and limitations.
For example, if a person dies as a result of suicide or certain high-risk activities, the insurance company may not pay the benefit.
If you withhold important information or provide false information when purchasing whole life insurance, especially if you do not tell the truth about your health information, the insurance company may also refuse to make a claim.
How much can the insurance company pay for natural death?
If you want to ask how much you will pay, it will naturally be determined according to the insurance amount agreed in the contract.
The higher the sum insured, the more expensive the premium will definitely be.
Of course, some product contracts will also stipulate compensation in some special cases.
For example, if we suffer from some critical illness during the policy period, the insurance company will pay part of the sum insured of the whole life insurance policy in advance.
And since whole life insurance is a long-term insurance, the policy has a cash value, and the amount of coverage will increase as the cash value increases.
In other words, even if the policy is to be surrendered, it is not the premium paid that is surrendered, but the cash value of the policy.
(A mini program has been added here, please go to the Toutiao client to view)
If the cash value of the policy does not exceed the sum insured, the sum insured will be paid in the event of death.
What's the myth?
In fact, many friends also have some misunderstandings about whole life insurance.
For example, some people think that whole life insurance is an insurance that can only be used after death or near death, and it is useless to buy it.
However, whole life insurance does not protect against illness or death, but rather for the financial well-being of the entire family.
There are also people who feel that whole life insurance is very good and anyone can buy it. But in fact, older people can't buy it.
Moreover, the premium is on the high side, which is not suitable for ordinary families to buy.
In general, whole life insurance is a very important type of insurance, but we should also be cautious when choosing to buy it.
To determine what your needs are, it is a good choice to buy insurance that suits you.