How long does it take for your life insurance to go into effect?

Question

my husband and I upped our coverage last week....

Answer 1

Generally, if you paid the premium for the increased coverage, then you're covered for the new amount.  But, you may want to check on it if you have not yet paid the difference in premiums yet, or if you're going to be billed for it.  In some scenarios, the official request, when you agreed to the premium & coverage increases, covers you from that day; in other scenarios, it is when you have paid for said increases.

Answer 2

I don't know - but judging by your other questions - I am a little nervous. LOL

Answer 3

usually straight away, but alot of insurance companies have a waiting period for certain causes of death ie "accidental death only for the first 12 months"

Answer 4

Since you already had coverage, there shouldn't be a waiting period for coverage to be effective, but there may be limitations on certain types of death for a short period of time.  Every company is different and your policy documents should tell you the details of your policy.

Answer 5

They'll give you the date it goes into effect.  More than likely, you REQUESTED the increase last week . . . they'll send you a paper rider, saying "effective xyz date, the coverage is now $5" or some such.  That's the date it goes into effect.

Answer 6

You should ask your insurance agent. You should probably wait at least a couple months after that before offing your husband.

Answer 7

Immediately, EXCEPT, for suicide, which usually carries a two year waiting period.  If that occurs within two years, only the premiums are paid.

Answer 8

Really depends on the company.  I write for several different ones and they all have a little bit different rules.  To be sure contact the company or agent.