Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Yes, but only in certain situations such as you not paying your premiums (the policy would lapse) or if it's discovered you intentionally lied on the application for the coverage (fraud).
A policy is a contract - you agree to pay a certain premium amount in exchange for coverage so when a situation occurs that is covered by the plan, the insurance company pays their portion of the claim up to the specified amounts in the policy and any remainder would be billed to you, if applicable.
Please let me know if I can be of further assistance. Thanks very much.
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A policy is a contract - you agree to pay a certain premium amount in exchange for coverage so when a situation occurs that is covered by the plan, the insurance company pays their portion of the claim up to the specified amounts in the policy and any remainder would be billed to you, if applicable.
Please let me know if I can be of further assistance. Thanks very much.