Iowa Life Insurance Quotes

When a loved one passes away there are many concerns and one of them may be finding out if there is an Iowa life insurance policy for your loved one.  Sometimes you may only find out that there is a policy once a notice is received from the Iowa life insurance company advising that the policy has lapsed due to late payments.  Do not worry as this does not mean that your benefits are gone, once the insured person passes away, the policy is payable and there is no statute of limitations on the claiming of  Iowa life insurance.  In fact, if any automatic premiums were withdrawn after the insured is deceased, these premiums should be refunded, as well if the death was a long time ago, you should receive the benefits plus interest.
When the policy premium is not paid the Iowa life insurance company  will send out notices to try and obtain payment.  If they are unable to contact the insuraed the policy will lapse.  The lapsed policy can become an extended term which will use the cash value in the policy to pay the premiums of a short term policy.It can also be paid out at a reduced amount which means that if the insured passes away after the policy has lapsed, the beneficiaries are able to collect a reduced amount.
Most important of all is to have the death certificate to provide the date of death to the Iowa life insurance company to allow you to collect the death benefit that is available.  To prevent this from happening to your own life insurance policy, ensure your beneficiaries know about the life insurance or you could let someone else you trust know about the existence of the policy and they can make sure that your beneficiaries know about the policy before it lapses.  Keep your insurance policy in a safe place such as a safety deposit box.
If you have questions regarding Iowa life insurance you can contact the Iowa insurance division at 1-877-955-1212 or www.iid.state.ia.us.