Insurance Issues for Military Personnel

 Members of the armed services can be deployed on short notice, leaving little time to  address their personal or business affairs. Insurance coverage, in particular,  is often affected when someone moves out of state or spends an extended period  of time away from home. Before you purchase any insurance policy, it is a good  idea to ask the agent or broker specific questions about how the company will handle issues related to the  deployment of their policyholders who are in the military. Each  company’s guidelines can vary. By shopping around, you may be able to find an  insurer who takes the specialized needs of service members into account. It  might be difficult to handle routine business like paying premiums timely or renewing policies when you’re  deployed. Talk to your agent before you leave to learn when a policy is  up for renewal and to make arrangements to pay your premiums. You may be able  to renew a policy early or have your premiums paid by automated bank draft. Some  insurance companies might also allow you to suspend certain coverage while  you’re deployed. Most insurance companies use payment history and continuity of  coverage as factors to determine their rates and eligibility standards. If your  insurance lapses or expires while you’re away, you could come home to find  companies unwilling to insure you or only willing to do so at a higher rate.

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