If there is anything I’m not in this business, it’s the proverbial ambulance chaser. So forgive me as I write this but keep in mind that I am not here to scare you into buying life insurance you don’t need, but rather to give you the good news that, in most cases, you already have what you need in this dangerous world. Since the 60’s, with the exception of small, burial type policies, life insurance companies quit using the acts of war clause. Most of you with traditional life insurance are covered.
That clause was meant to avoid their personal burden of the heavy death tolls of world wars and especially the 65,000 deaths that occurred in Vietnam. Back then it was an assumption that by joining the military you were intentionally engaging in very risky activity, and you were. It wasn’t until after Vietnam that they actually put a pencil to the actuarial facts, and with most soldiers covered by SGLI, the truth was that very few were going into battle resting their family’s future on personal insurance. And when you think about it, even today, how many 18-25 year olds, even those with families that should have life insurance, actually do have it?
So life insurance companies removed the war clause, and removed it before terrorism was even known as a weapon of mass destruction. So there is no clause that would preclude a life insurance death claim being paid if a person were to die in an act of terrorism such as 9/11 or any of those since. It is this person’s opinion that we have only seen the tip of the iceberg in the use of terror and that it will be much worse, but again in my opinion, there will be a period when it gets much better. I wish I could put brackets around this and own it but my blog so I own it, right? I think there will be a point in the not too distant future where America will inflict such a heavy toll on those who would perpetrate terror that even their radical Islamic views will back pedal. It’s called righteous indignation and it happens when things are out of control. America will use it, in my opinion, with great precision and massive damage to terror networks.
The good news if you are traveling or attending large events for now is that you can purchase travel insurance or accidental death and dismemberment or accidental medical that covers acts of war and terrorism. It’s cheap, as it should be since the risk is minimal, but consider it. If you have questions or need to price either additional coverage for travel or work or international sporting (Olympics)events, call or email before you go and let’s get it set up. Again, please forgive any feel that I am chasing business. We can help.
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