Life has always been very playful.
Sometimes things are working out the way you want it to be – fun, active, prosperous, and happy. On one day, everything seems to be very normal and exciting, and there is that one day where everything just snap out, with a flick of a second.
This story shows not only the tragedies occurred to a happy family, but also highlights one of the key characteristics of Life Insurance.
Video Credits: https://www.youtube.com/watch?v=FfSqwgYK7zo
Life Insurance Trivia
Once life insurance applications are signed and paid, the status of that application is temporarily enforced, even if the documents are still to be processed by the Life Insurance Company.
What does this mean?
Even if the application is still being processed, should something happens to the proposed insured, the Life Insurance Company is already liable to the beneficiaries of the life insurance policy. Yes, once you signed and paid your life insurance application, you are already insured.