In New York State Guaranteed Issue policies are offered to ages Fifty through Eighty. There are many ads for True "guaranteed issue" policies that ask no health questions. The Companies may charge a higher premium and limit the benefit amount because of the potential risk of insuring people with minimal underwriting.

In New York State the Contestability Period is two years. The Contestability Clause is a Life Insurance policy provision. It allows the Insurer to void or contest the policy if any misrepresentation is discovered before the two year period expires. After two years have passed the Insurer cannot contest the policy for any reason other than non-payment. To ensure a policy stays in force and is not contested it is wise to always answer...

A Beneficiary for Life Insurance is the Person or Persons designated to receive the death benefit from the life insurance. Beneficiaries are usually Spouses, Children, Siblings, Parents and other Close Relatives, Friends and Partners. Nonprofit institutions such as Places of Worship, Schools, Libraries, and Community Groups are also commonly chosen beneficiaries. The Beneficiary should be a responsible party who will be aware that they...