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Life Settlement
Educational Information
Welcome Funds has compiled every term, phrase & definition related to life settlements. Have more questions? Call us toll-free at 1-877-227-4484 or complete our Quick Online Qualifier to determine your eligibility.

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DEFINITION OF EVIDENCE OF INSURABILITY

When applying for a life insurance policy, one must prove your health meets the criteria specified by the Life Insurance Company. If a policy lapses, you maybe be required to provide evidence of insurability, which may include a special medical representation, medical records and other related medical information, in order to reinstate a life insurance policy. Note, this may re-start the contestable period and suicide period on the policy for these specific questions and also it may allow the carrier to re-underwrite the policy and increase costs significantly.

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