Faith, your friendly assistant
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Recent activity by Faith, your friendly assistant-
What happens if the secondary person insured dies before the active person insured?
Nothing happens – no death benefit will be paid out. The policy will continue as if no secondary person insured was appointed. The policy owner can appoint a new secondary person insured if the pol...
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Who can change the secondary person insured of the policy?
Only the policy owner can make changes (appoint or revoke) to the secondary person insured.
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If there is an appointed secondary person insured, what happens to the policy upon death of the policy owner?
Upon death of the policy owner, the policy will go to the estate of the policy owner. For a first-party policy, where the policy owner is the active person insured, the secondary person insured wil...
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How many times can I appoint a secondary person insured?
The secondary person insured can be appointed a total of 3 times. There can only be one secondary person insured at any point of time.
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Can the policy owner appoint and/or revoke a new secondary person insured?
Yes, the policy owner may appoint a new secondary person insured or revoke an existing secondary person insured at any time after policy inception. There may only be one secondary person insured ap...
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When can a secondary person insured can be appointed?
The policy owner can appoint or revoke a secondary person insured any time during the policy term to ensure policy continuity upon death of the insured. The appointment for secondary person insured...
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Who can be appointed as the secondary person insured?
The secondary person insured can be the policy owner, policy owner’s spouse, child or legal ward.
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What is the secondary person insured option?
Appointing a secondary person insured ensures the policy does not automatically end upon death of the active person insured. This option is not available for corporate policies. If there is a secon...
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Who can change the person insured of the policy?
Only the policy owner can change the person insured of the policy.
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How many times the person insured be changed?
The policy owner can change the person insured a total of 2 times.