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With the continuing global economic crisis, there has been a lot in the press recently concerning the importance of life insurance at such a time and whether it is even certain that we’ll receive our money when we are due it. This is particularly relevant in the UK at the moment with the Janice Wild Vs Windsor Life case, but the aim of this article is to highlight that this is an isolated incident and that we shouldn’t lose trust in the UK life insurance industry as a whole. Typically though, there are certain times when policies will not pay out and I shall describe some of them here:Death by Hazardous ActivityHazardous activities or extreme sports are often hard to define, but it is usual for insurance companies to stipulate that should a policyholder die during some kind of dangerous recreation or pastime they will not pay out. Consequently, it is important that if you are considering a life insurance policy and enjoy any sport that necessitates any degree of risk: such as skateboarding, rock climbing and sky-diving – then you should be completely honest with your insurance company and ascertain whether you need extra or specialist cover at the outset.Death by SuicideInsurance companies will often refuse to pay out when the policyholder has committed suicide. It is typical of each life insurance policy to include a suicide clause which nullifies the policy if suicide occurs, usually, within two years in the US – whilst some state-wide policies have statutory suicide clause covering 1 year. Additionally, certain policies may reserve the right to reject a claim should the holder commit suicide at any time.Death during WarIt is typical of insurance companies to not pay out should the policy holder die during an act of war. This is simply because an event that is as unpredictable and extraordinary as war is difficult to calculate in risk terms. Consequently, the definition of “war” amongst companies is usually quite broad and might vary between each, but will likely include: civil and international war, declared and undeclared war, and any conflict between military organizations. It must be acknowledged that acts of terror confuses matters further and are regarded as acts of war by some, but not others.Death in a Restricted CountryLife insurance companies may also refuse to pay out if the policyholder dies in what is considered a “Restricted Country”. These usually refer to places where disease or conflict leads to the deaths of many of the population. Similarly to death during war, it is too difficult for companies to judge the risk of an individual in such an unstable country. In circumstances where policyholders must travel to such destinations, a policy rider is usually purchased for the duration, and at an increased premium, in order to ensure the individual is covered.

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Ironically, more money is spent each year on alcohol and cigarettes than on Life insurance.Not the most interesting fact but you might like these facts of life….01) Triangular sandwiches taste better than square ones.02) At the end of every party there is always a girl crying.03) One of the most awkward things that can happen in a pub is when your pint-to-toilet cycle gets synchronised with a complete stranger.04) You’ve never quite sure whether it’s ok to eat green crisps.05) Everyone who grew up in the 80’s has entered the digits 55378008 into a calculator06) Reading when you’re drunk is horrible.07) Sharpening a pencil with a knife makes you feel really manly.08) You’re never quite sure whether it’s against the law or not to have a fire in your back garden.10) Nobody ever dares make cup-a-soup in a bowl.11) You never know where to look when eating a banana.12) Its impossible to describe the smell of a wet cat.13) Prodding a fire with a stick makes you feel manly.14) Rummaging in an overgrow garden will always turn up a bouncy ball.15) You always feel a bit scared when stroking horses.16) Everyone always remembers the day a dog ran into your school.17) the most embarrassing thing you can do as schoolchild is to call your teacher mum or dad.18) The smaller the monkey the more it looks like it would kill you at the first given opportunity.19) Some days you see lots of people on crutches.20) Every bloke has at some stage while taking a pee, flushed half way through and then raced against the flush.21) Old women with mobile phones look wrong.22) Its impossible to look cool whilst picking up a Frisbee.23) Driving through a tunnel makes you feel excited.24) You never ever run out of salt.25) Old ladies can eat more than you think.26) You can’t respect a man who carries a dog.27) There’s no panic like the panic you momentarily feel when you’ve got your hand or head stuck in something.28) No one knows the origins of their metal coat hangers.29) Despite constant warning, you have never met anybody who has had their arm broken by a swan.30) the most painful household incident is wearing socks and stepping on an upturned plug.31) People who don’t drive slam car doors too hard.32) You’ve turned into your dad the day you put aside a thin piece of wood specifically to stir paint with.33) Everyone had an uncle who tried to steal their nose.34) Bricks are horrible to carry.35) In every plate of chips there is a bad chip.36) Knowledge is knowing a tomato is a fruit; Wisdom is not putting it in a fruit salad.

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