The sum of Life Insurance cover and personal accidental cover more than Life Value
Can the sum total of my Life Insurance Cover and the Personal Accidental Insurance cover be more than my life value at the time of death - life as per my income at the time of my death.
What I mean is : will the insurer honor the Personal Accidental Claim if my Life Insurer has already honored the claim as per the cover value - which itself is equal to my life value at death.
My second question is : will my Life Insurer reject the claim of my Term Insurance if my life value at the time of death is less than the sum insured value. In other words : I could get the Term Plan of certain Sum Insured Value because I had a required income to show when I started the term plan, but my income at the time of death is less than what it was at the beginning of the Term Plan. Will the Life Insurer demand income documents after my death to verify my life value.
Dipak R Gandhi