If the cost of insurance on the dividend option term rider is higher then the monthly premium being paid. What happens to the term insurance portion of the whole life policy at that time? I have this rider now on my whole life policy to maximize my death benefit at the lowest cost but I’m thinking that either I will have to pay more premium if the cost goes up or I have to drop the rider.

As a Canadian high school teacher, what should happen to my group life insurance when I retire? Am I still covered? Is it worth forking out another $400 a year while I am still young for full-time life insurance, or is my group insurance good enough?

My Dad purchased whole life insurance through AXA Equitable which is all paid for. What happens if the life insurance company goes bankrupt or their assets are under water like so many other financial institutions these days? Will the benefits still be payable?
I also think it’s strange that he had to pay $700 more to this insurance company as an “adjustment”(?) recently even though the policy was fully paid for a long time ago. Is this normal?

If you have health insurance with your employer then quit, how can you get new health insurance with your new employer because aren’t they going to see all your pre-existing history from your old insurance company?

Say my parent has a life insurance policy, but depletes their assets and becomes eligible for medical assistance to pay for nursing home or medical costs. What happens to the payout to the beneficiary after that person’s death? Is it even worth keeping up such a policy in that case? Thanks.

My father recently passed away, and the life insurance proceeds were paid out. I am curious to know what are the potential tax implications for Ontario, Canada for depositing said proceeds into a bank account or savings account.