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Simplifying life insurance: How Phil Sokowicz can help you stake your claim




Life insurance is an essential aspect of providing safety and security to your family or loved ones. While insurance companies make tall claims at the time of purchasing the policy, it doesn’t always go as smoothly as they had assured you. Staking your claim with an insurance company can be taxing, time-consuming, and exhausting. It is for this reason that Phil Sokowicz created a digital platform that helps people enforce their claims.

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What happens when your insurance policy lapses?

Life insurance policies work differently from other insurance schemes. The type of life insurance policy you get decides what happens if you can’t pay its premium.

1. Term life insurance

These policies don’t come with any cash value. They immediately go into your grace period if you miss a premium payment. The policy gets canceled if you can’t pay your premium within the grace period.

2. Permanent life insurance

This type of policy includes variable universal life, universal life, and whole life insurances. Unlike term life insurances, these policies have a cash value. The value increases as you keep paying your premiums. Once you stop paying, the insurance company will use your accumulated cash value to cover the cost of the premium. The policy will lapse if you don’t have any cash value left.

What’s your next step?

Most insurance companies allow their customers to reinstate their policies within the grace period to avoid underwriting. There are a few things you need to know about reinstating your policy.

· Coverage within the grace period

Life insurance companies understand that clients may take a little more time than usual to pay their premiums. Hence, they keep some buffer time called grace period within which you can pay your missed payment. But what if you die within that grace period? Don’t worry; your family will still get the full coverage of your insured amount.

However, they will not get a dime if you miss the payment even within the grace period. For example, if your grace period ends on 31st March, and you can’t make your payment, your family will not get any coverage if you die on 1st April. The insurance company will consider your policy void. They will have no legal obligations to pay your family in case of lapsed insurance policies.

· Reinstating your policy after lapsing

There are a few companies that allow clients to reinstate their policy after it lapses. You need to read the terms and conditions of your policy’s offers to find out about reinstating procedures.

You should ask your insurance company about reinstating your policy after lapsing. Different companies have different reinstatement rules. Usually, most companies allow you to reinstate your policy within the first 30 days after lapsing. They will not underwrite any amount from your policy if you can reinstate it quickly. Some companies also allow you to reinstate your policy even after 30 days but within six months from lapsing with limited underwriting.

Limited underwriting involves a few questions about your health. The insurance company will attest that they noticed no material changes in your health since the policy was underwritten. You shouldn’t lie to any question asked. If you do, and the insurance companies understands that, they can negate your life insurance. Your family will never get paid after you die.

· Understanding the importance of the reinstatement period

The reinstatement period is crucial for you and your family for two reasons:

1. As already mentioned, you will not have to go through an underwriting process if you pay your premium. If you at all have to go through the underwriting questionnaire, make sure you don’t lie. Avoiding underwriting will lead to lower insurance premiums also.

2. Your health rating will go down if your life insurance lapses after the reinstatement period. A new policy will cost more than your old policy. Moreover, your insurance premium will depend on your age. The older you are, the more premiums you have to pay, even if you don’t experience significant health changes. Therefore, reinstating your life insurance not only secures your entire family but also saves a lot of money because you don’t have to sign up for a new one.


Apart from policy lapses due to incomplete premium payments, there is another way to get out of your life insurance. If you concluded life insurance between 1994 and 2007 there is a high chance that it contains a faulty cancellation policy that will allow you to revoke the contract and receive all your premiums paid and additional interest.

Phil Sokowicz, a 30-year-old German, is the savior for millions affected by this mess. His startup aims to revoke the life insurances of millions. He believes that life insurance holders should get the money they deserve. Phil, along with his partner, started a legaltech platform, where people can submit their life insurances, as well as other legal claims.

They follow a simple process to help the people in need. Anyone who signed up for life insurance between 1994 and 2007 can submit their documents to them. Their team will check the policy details once you submit your documents and forward them to cooperation law firms. They will also calculate an approximate amount of money you can get at no cost. Many cases will have to go to court but in most cases, the company comes out as the winner. You get your deserved claim amount from which you need to pay 29,75% as Phil and his team’s fees.

Jenny is one of the oldest contributors of Bigtime Daily with a unique perspective of the world events. She aims to empower the readers with delivery of apt factual analysis of various news pieces from around the World.

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Top Road Trip Destinations in Canada




Did you know that 1.93 million Americans traveled to Canada in 2020? That number was down year-over-year due to COVID-related travel restrictions. 

While some Americans visit the Great White North via plane, others prefer road trips. It can be fun to plan an itinerary, book a hotel, pack the luggage, load your family into the car, and head to the border. But if a road trip to Canada is in the plans for you and yours this summer, what Canadian destinations are worth the potentially thousands of miles of driving? Keep reading to learn about the top road trip destinations in Canada.

Grasslands National Park in Saskatchewan

Grasslands National Park is one of Canada’s 44 national parks and park reserves. Whether you’re an earlier bird or a night owl, the national park in Southern Saskatchewan provides an ideal prairie landscape. It’s the perfect place to unwind, immerse yourself in nature, and recalibrate your life.

Enjoy the great outdoors on a campsite, or take part in hiking adventures by exploring trails. The solitude and breathtaking beauty of this national park will leave you in awe. Make time for the Ecotour Scenic Drive. It’s about 20 km (around 12.5 miles) long and will take one to three hours to complete depending on your pace. 

Toronto to Stratford, Ontario

If there’s one Canadian city most Americans have heard of, it’s Toronto. Toronto, the capital of Ontario, is the fourth largest city on the continent. It’s also home to the only authentic castle in North America. Casa Loma, located in midtown Toronto, is worth the visit. So, too, is the CN Tower, which is the biggest free-standing structure in the Western Hemisphere. The city also has citizens representing 200+ ethnic groups. 

While there’s plenty to see and do in Toronto, why stop there? It’s a good idea to include a Toronto-to-Stratford excursion while on your road trip to Canada. You must travel 150 km (about 93 miles ) west to get to Stratford. You’ll see Victorian architecture and get to take in the live theater. Most Americans probably haven’t heard of Stratford before. But when you come for a visit, there’s a good possibility you won’t ever forget it.

North Cape Coastal Drive, Prince Edward Island

If you haven’t ever taken a road trip to Prince Edward Island, you don’t know what you’re missing. It’s Canada’s smallest province, but it sure offers a boatload of fun. Are you a foodie or do you like to indulge in the local cuisine when traveling? Check out the western peninsula. You can delight your tastebuds with the range of food available. 

Make time to visit the Canadian Potato Museum in the province. After taking in the sites and attractions at the museum, enjoy a meal at the onsite PEI Potato Country Kitchen. The menu has items like the chili topped baked potato, which features a baked potato, homemade chili, and cheese. Meanwhile, the pulled pork potato features a baked potato topped with pulled pork, cheese, and sour cream on the side. That’s just a sampling, and all baked potato dishes are served with fresh-cut, homemade chips.

If you’re intersted in a U.S. to Canada road trip this year, the options above will give you some ideas. The sky’s the limit since there’s so much to see and do. 

You’ll want to ensure your vehicle is in good working order to avoid breakdowns. You’ll also want to stay alert on the road since you’ll be traveling a lot of miles and spending hours behind the wheel of your car. 

If you get into an accident, you must know what to do. In addition to reporting the accident, calling your insurer, and possibly even booking a rental car to complete your road trip, you’ll want to contact a personal injury lawyer if anyone is injured. 

No one wants to consider accidents or injuries when on a road trip. But it’s best to hope for the best while being prepared for the worst. You’ll enjoy the journey and the destination a lot more when you’ve done everything possible to prepare for any possible issues.

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