The zombie apocalypse is coming. Oh yes -- it's true. Just look around. The signs are everywhere. We are a nation entranced by zombies, as evidenced by the popularity of AMC's hit series The Walking Dead.
And you think you're golden because you have a zombie survival kit chock full of torch making materials, bottled water and a wood chipper. But do you have the most critical weapon needed to fight zombies and protect your family? That's right -- we're talking about term life insurance.
You see, a term life insurance policy is indestructible to zombies. No matter what happens to you in a zombie apocalypse, the life insurance company will still pay a benefit to your family. Of course, we're assuming the company itself has not been taken over by zombies, in which case, you're out of luck. But we digress.
Term life insurance policies do have some limitations around the payment of the death benefit when a claim is filed. But mostly those limitations are themselves limited, as such:
- Suicide Exclusion - Life insurance companies will not pay a death benefit for suicide in the first two years of the policy.
- Contestability Period - Life insurance companies have the right to contest a death claim in the first two years of the policy. Mostly the company will investigate to make sure there were no material omissions or misrepresentations on your application. In other words, if you lied or didn't disclose something important (like cancer or heart problems for example), the company may not pay.
Hmmm -- no mention of zombies. We're going to go out on a limb (pun intended) and say you'll be covered in a zombie apocalypse.
So continue to stockpile cans of Spam and nose plugs until the fateful day comes. And when it does, go out there and fight the good fight knowing your life insurance company has your back!
This entry's tags: term life insurance, zombies, policy exclusions, policy limitations