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Is there a limit of life insurance?

  • 19-04-2015 11:11AM
    #1
    mikemac1
    Closed Accounts Posts: 12,395 ✭✭✭✭


    I'm a full time permanent employee in an American multinational

    When I started among the documents I got was automatic inclusion in a death benefit scheme. My next of kin get a lump sum of 4 times my salary. My salary ain't high :p

    There is also the possibility of a dependants pension however I don't have dependants, the NOK is the Mammy so only the lump sum applies

    I didn't ask for any of this and it was just part of my employment package.

    I also get free (less benefit in kind of course ) healthcare from Laya. A few months back I saw a notice on their website that Laya customers get free 10k life insurance. Can't argue with free!!!

    Now I know it's a ploy to get customers interested and maybe take out more life insurance and that's fine, it's marketing

    My question is.............do insurance companies reject policies if they were unaware the customers had multiple insurers? Laya didn't ask was I insured elsewhere and so I didn't say.

    I know they ask if you ever denied but suppose you were not denied and got policies from different companies. When you get knocked down by the 46A and your NOK/executor writes in to claim do they deny claims saying you never told us about policies elsewhere?


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