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Life insurance is not a product that is designed to pay yourself. It is designed to leave a benefit after you have passed. So there is no point in which you can collect on your own benefit.
With that being said, there is something called an Accelerated Death benefit rider which allows a person to draw down on their benefit, if they are diagnosed with a Terminal illness. The specifics on this rider would have to be reviewed with the specific insurance company you work with though.
The only way that you can collect on your own insurance policy is if you own a Cash-value based policy, from which you can borrow or surrender the cash value; or if you own a Return of premium Term Life policy and have outlived the Term period, in which you would receive a 100% rebate of all premiums paid.
What else can I help you with?
At what age should my teen get his own auto insurance policy in Rhode Island?
A teen in Rhode Island should get their own auto insurance policy when they get a car in their name.
At what age can one enter into a life insurance contract?
In general, the age of majority in your state will dictate when you are of legal age to buy a life insurance policy on your own. Again in general, you would need to be the same age to sell it.
Is it best for your dependent daughter to have her own auto insurance policy or add her to your policy?
Add her to your policy, but make her understand this is to help her out, and if she behaves irresponsibly, she on her own for insurance coverage .
How do you check car insurance policy on net?
Only your Insurance Companies own website will give you access to your auto insurance policy.
Can you have your own auto insurance policy if you live at home with your parents?
Yes, you can have your own auto insurance policy. If you are a minor though, you will need your legal gaurdian to countersign your application for insurance coverage.
Do you have to be added to your parents insurance policy if you are primary driver of one of their vehicles and you have insurance policy of your own?
yes, simple as that.
In Texas how old do you have to be in order to have your own auto insurance policy?
Any legal driving age can obtain insurance in Texas. If you are a minor then your parents or legal gaurdian will have to countersign your application.
Can a minor get his own auto insurance in Connecticut?
No. A minor is a person who is not of legal age to sign a contract and an insurance policy is a legal contract. A minor may or may not have the ability, depending on state laws and regulations to own a vehicle.
What if neighbor's house catch on fire then yours but your neighbor has no insurance?
If you have fire insurance on your own home you will be covered under your own policy. You don't need to worry about whether the neighbors house has insurance or not. It does not affect the coverage you have under your own policy.
Can i buy your own retro homeowner insurance?
No. there is no such thing as a retroactive homeowners insurance policy.
What age do you need car insurance?
there is no age, you buy car insurance when you own a car
You do not own a car can you get a policy to drive other peoples cars?
You do not need your own policy. In most states you are covered by the car owners insurance policy.
