Often asked: What Happened To Gulf Life Insurance Company?

Gulf Life Insurance Company was merged into American General Life of Houston in 1991 and the Jacksonville Gulf Life Tower was unneeded and destined to be sold. After Gulf Life was acquired by American General in 1991, it was changed to “SouthTrust”, and the structure was known as the SouthTrust Building.

Who now owns Gulf Life Insurance Company?

Gulf Life Insurance was acquired by American General Life in 1991. Ten years later, American General Life became a wholly-owned subsidiary of American International Group (AIG), a multinational insurance corporation with operations in over 80 countries.

Can a life insurance company refuse to pay?

If you die while committing a crime or participating in an illegal activity, the life insurance company can refuse to make a payment. For example, if you are killed while stealing a car, your beneficiary won’t be paid.

Does alcoholism void life insurance?

Yes, alcohol consumption can affect whether a life insurance policy is paid, or whether an applicant for insurance can get coverage. If an insured discloses on their initial application for life insurance that they use alcohol, the insurance adjuster will take that into consideration when writing the policy.

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How do life insurance companies know when someone dies?

Life insurance companies typically do not know when a policyholder dies until they are informed of his or her death, usually by the policy’s beneficiary. Thus the life insurance company would stop sending premium notices after all premiums were paid. Moreover, there is no master list of who is alive and who is dead.

Do life insurance companies check medical records after death?

If you die during the effective period of your term life insurance policy, your policy’s beneficiaries stand to receive the policy’s so-called death benefits. Your policy’s underwriter may actively participate in these investigations. If this is the case, you may be granted access to your official medical records.

Do alcoholics pay more for health insurance?

This means that someone with no health issues will pay less in premiums than someone with a history of heart disease, and a person with a history of alcohol abuse will pay more than someone who does not.

Can you get life insurance if you’ve been to rehab?

If you’ve previously been to rehab or are still getting clean, you may have to wait to apply for a life insurance policy until that part of your life is far enough in the past that you will qualify for coverage.

Does life insurance payout for suicidal death?

Life insurance policies will usually cover suicidal death so long as the policy was purchased at least two to three years before the insured died. There are few exceptions because after this waiting period, a life insurance policy’s suicide clause and contestability clause expire.

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What happens if the owner of a life insurance policy dies before the insured?

If the owner dies before the insured, the policy remains in force (because the life insured is still alive). If the policy had a contingent owner designation, the contingent owner becomes the new policy owner. Without a contingent owner designation, the policy becomes an asset of the deceased owner‟s estate.

How long after someone dies do you have to claim life insurance?

There is no time limit on life insurance death benefits, so you don’t have to worry about filling a claim too late. To file a claim, you can call the company or, in many cases, start the process online.

What happens if life insurance beneficiary is deceased?

In case the beneficiary is deceased, the insurance company will look for primary co-beneficiaries whether they are next of kin or not. In the absence of primary co-beneficiaries, secondary beneficiaries will receive the proceeds. If there are no living beneficiaries the proceeds will go to the estate of the insured.

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