|
|
|
Below, you'll find extensive information on leading
personal finance credit card car insurance articles and products to help you on your way
to success.
When A Dead Man Turns Up Alive, What Happens To Any Insurance Payout?
By Paul
| The recent story of a canoeist who disappeared for five years and had been declared dead has prompted much discussion; most of it concerning what would happen to any payout. Would it have to be repaid? The recent re-appearance of canoeist John Darwin, who had been presumed dead after the coastguard failed to find any trace of him in the sea five years ago, has prompted many questions about his whereabouts in that period, as well as a very interesting one for the UK industry; what happens if you pay out a claim on someone who comes back from the dead?
There is no indication in this case whether Mrs. Darwin has been the beneficiary of any payout, so the question is merely rhetorical. However, before finding out whether any refund would be required we must first look at how someone is declared dead, in order for the payout to be made in the first place.
A spokesman from the Association of British Insurers confirmed that a missing person would be declared officially dead seven years after going missing. But, where there is ‘compelling circumstantial
evidence’ of suspected death, relatives can apply to the courts earlier to have the missing person declared dead. In addition, companies can choose to pay out earlier than the statutory seven years if they choose, even in cases where a body has not been recovered, and without the need for any court action.
Although there is no uniform agreement as to what constitutes ‘compelling circumstantial evidence’, most insurers are in agreement that any of the following would apply in cases where payouts for life assurance with no body recovered are being considered:
- If the likely age of human survival has been crossed by the insured
- If the possibilities of the insured being in any danger were high
- If the insured had a terminal illness or was suffering from deteriorating health status at the time of the disappearance
- If the actions of the disappeared insured are totally inconsistent with their behaviour
So, back to the main question: what happens if a beneficiary has received a payout under a policy for a missing person, and they subsequently turn up alive? Well, the answer is not that simple. According to an Association of British Insurers’ spokesman, it is down to the discretion of the individual company as to whether they pursue the beneficiary of the claim for the recovery of any payout in cases when the insured subsequently turns up alive. Only in cases of clear foul play, or where fraud is suspected or proven, would they would seek to recover the insured sum, but in other cases the money could be written off as an insured loss.
So, whatever happens in the strange case of Mr. And Mrs. Darwin, it is unlikely that most who compare life insurance policies before buying examine the small print to find out whether the beneficiary of any claim would have to repay any payout, should the insured come back from the dead!
|
|
We strive to provide only quality articles, so if there
is a specific topic related to life insurance that you
would like us to cover, please contact us at any time.
And again, thank you to those contributing daily to our
personal finance credit card car insurance website.
Blogger / Editor who can positively transform our forward facing content. This person writes for a widely recognized tech blog, industry magazine, innovative marketing...]]>
blogger/ article writer for our blogsites. We would someone knowledgeable and creative since there would only be 1 topic to write about. We will hire part-time first about 15-20 hours and if you prove yourself good...]]>
blogger for our daily blogging services. We are looking for someone who can assist us in 3 blog posts per day. It's long term project and looking for someone who can handle this project on full-time. The...]]>
blogger to join their award winning editorial team! Your focus will be on Windows software, reviewing the latest desktop apps and blogging about the evolution of the worlds most...]]>
Blogger Freelance Technical Blogger needed for on-going assignment. Looking for someone who can take our content to another level. Ideal candidate thrives at communicating tech industry insights, in a clear and prolific manner that...]]>
Blogger outreach, participation & feedback, as well as inviting new bloggers to write about and promote their productss. In addition, this role will be cross-trained to help...]]>
blogger who is able to write original articles on matters in ... You must be knowledgable on SEO I would also like another blogger who is experienced in afro carribean hair and...]]>
blogger to write articles and post to a few blogs each week. I am thinking it would be around 15 small 300-400 word blog posts each week. The person would be responible for writing the posts which must be great...]]>
blogger will also be responsible for meta tags, create simple images/banners for the blog, research and generate contents to engage readers. Please send us your best two recent...]]>
blogger to write articles for several of my customers websites. I prefer a native English speaker, but will consider candidates who use English as there second language, as long as I cant tell the difference. Topics will...]]>
blogger blog. The transfer seems complicated and I need someone who is very familiar with both Blogger and Wordpress to help assist. Thanks, looking forward to working with...]]>
|
|
Look For The Cheap Car Insurance Quotes
By David
Find more about the cheap car insurance quotes. This article deals with the various aspects involved with the cheap car insurance quotes and how to find Read more...
|
|
Obtaining Personal Insurance For Automobiles
By Jim
Obtaining a good rate on automobile insurance is easy if the driver has a good driving record. able Read more...
|
|
Mexican Auto Insurance: Beware Of Brokers Who Can Sell You Short
By John
In Mexico, you will find a number of companies that provide you with general auto insurance with policies that provide high-yield and secure as well as Read more...
|
|
Classic Car Insurance For Motorists
By Derek
The following article will give classic, vintage car buffs the low down on the actual differences that exist between classic car insurance and standard Read more...
|
|
