Mar
2
effect of life insurance on relocating to a different state in USA?
Posted by harry Comments (4)
Jar asked:
We bought life insurance couple of years ago and that is still valid for another 20+ years. We are considering moving to a new state. Does it affect the life insurance , or do we have to buy a new life insurance ?
also, what if one moves out of the country for 1 or 2 years.
We bought life insurance couple of years ago and that is still valid for another 20+ years. We are considering moving to a new state. Does it affect the life insurance , or do we have to buy a new life insurance ?
also, what if one moves out of the country for 1 or 2 years.
Categories: Life Insurance
It has no effect.
It doesn’t matter if you move to another state. Heck, I’ve done it several times.
If you’re planning on moving out of the country, or have reasonable belief that you might, it needs to be disclosed on the application to make sure you don’t have coverage voided through misrepresentation.
Once you have the policy it doesn’t matter where you move….or whether your occupation changes, health changes, etc…. All of that only matters prior to getting coverage.
Coverage applicable to staying overseas is very different from your typical domestic policy, which can be obtained from a minimum of 10 days up to a maximum of 2 years.
I think you’d better check any health policies you already have very, very carefully. Find out if your coverage extends to emergency medical services outside the country, what that coverage entails.