The bottom line What happens to policy proceeds during interpleader is usually a court-controlled hold: an insurer facing competing claims may deposit the death benefit with a court, and the claimants then litigate or settle who should receive it. The insurer does not choose the winner, and the result depends on the court’s order and … Read more

The bottom line Who should consider a linked benefit policy? People who want life insurance with a long-term-care benefit and can accept its cost and contract limits may be candidates. The right fit depends on the death benefit, care features, funding schedule, health underwriting, and the assets the policy is meant to protect. A linked … Read more

The bottom line If you are asking, “how can i tell whether a policy has a two-year waiting period,” read the policy’s suicide provision and contestability provisions and compare them with its issue date. A two-year contestability period is common, but the contract and applicable state law control. The phrase “waiting period” can describe two … Read more