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Husband deceased. He was retired from Mpls Post Office. I am the widow and I would like to know how to inquire about life insurance and if I am entitled to pension.
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The main difference between Term Life Insurance and Whole
life insurance lies in what happens to the money.<br><br>
In Term Life Insurance, you pay the monthly or yearly fee.
If you die when the policy is active and paid, then your family will be covered
and receive the amount which you have insured. If you don't die before the
policy expires, you (or your family) receive nothing. <br>
The premiums are lower than Whole Life Insurance but they
change as you age.<br><br>
Whole Life Insurance (AKA Cash-Value Insurance) has both
insurance policy and Investment account.<br><br>
The premiums are higher than Term Life Insurance but they
are fixed (you pay the same premium even when you age). If you die, your family
receives the death benefit but you can also cash the money when you are older
or retired.<br>
No, your not entitled to his retirement unless you've been married to him for ten years or more and he must be deceased. Your also required to have proof of ten years of marriage. If this is about social security benefits, i'm not sure about retirements you would receive from a company that your husband would have retirement benefits from.
If the condition existed prior to and was known by the person buying the insurance then the insurance company has excellent grounds for refusal to pay due to the non disclosure clause however that being said all insurance companies will try to avoid payout so hire a lawyer and expect to wait years for payout as the insurance will check to see how desperate you are for cash, starve you out and offer a very small settlement once they have you tired out.... get a lawyer on pay if you win condition and if he doesn't want the case and you checked 2 or more then drop it..... a lawyer will never take a case that he doesn't think he can win .... make sure the deal is all inclusive, meaning no consultation fees as they can add up above and beyond and are delivered post haste when the money comes....oh, and expect to get 1/4 of the money because a good lawyer isn't free...but right now you have nothing and with out him or her you will not get a dime
My condolences friend, but you best turn this over to an attorney. I don't know about the place your Mom worked, but that railroad setup your Dad worked at has a good size insurance policy on their workers. You could contact your commissioner and see what he can tell you. I know when my sisters husband died, she receives funds from the railroad for the rest of her life, as long as she doesn't re-marry.
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