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Providing for honest things, not only in the sight of the Lord, but also in the sight of men. II Corinthians 8:21 |
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A. A beneficiary is the person or persons designated to receive the death benefit payable on an insured person after we receive due proof of death. Q. May I have multiple beneficiaries? A. Yes, but you must designate the percentage or fraction payable to each. Q. What’s the difference between a Primary and Secondary Beneficiary? A. The Primary or First beneficiary is designated to receive the proceeds of the policy when the insured dies. The Secondary or Alternate beneficiary will receive the proceeds only if the Primary beneficiary dies before the insured person. Q. Who can change the beneficiary? A. Only the policy’s owner can change the beneficiary. A. A grace period is the number of days stated in the policy after the premium due date during which we will accept a premium payment from you without considering your policy lapsed. Most policies have a 31 day grace period. Others, specifically Universal Life Plans, have a 61 day grace period. Q. How do I find out about the benefits of my policy? A. The best source for a description of your benefits is the policy itself. It is your contract with the Company and its provisions are clearly set forth. If you have questions and would like to clarify or discuss them with us, please call the local office or write us. If you have a Life Insurance policy, you may get the information you need by calling the Policyholder Information Access Line. Q. How can I update my name and address in your records? A. Write us or call the local office. Proof of change of name will be needed for reasons other than marriage. Q. How do I change Ownership of my policy? A. Unless government regulations for Tax Qualified Plans prevent you from changing ownership, we will require you and the new owner to complete and sign an Absolute Assignment form in order to change ownership. You may obtain the form from our local office or by writing us. Q. What do I do if I lose my policy? A. Call the local office or write us. You may be required to complete a form, which we will provide. Q. I don’t know my policy number. How can I find out what it is? A. If, after checking through previous correspondence, you can’t find your policy number, call the local office or write us.We will need to know the full name and social security number of the policyowner or the insured. If there has been a name or address change since the last time you remember hearing from us, we will also need the previous name and address information. Q. How do I find an agent after moving to another state? A. Please use the Branch Office Locator. Q. Can I make changes to my policy after it has been issued? A. That would depend on policy provisions. For clarification, check your policy, call the local office or write us. Q. How can I apply for a new policy? A. Contact your local office. |