How Does Life Insurance Payout?

  1. 61667 POINTS
    Steve Savant
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    Upon the death of the policy insured, the policy owner and/or the policy beneficiary notify the life insurance company. The company sends their death claim form upon request. Once the form is filled out, the certificate of death and newspaper obituary are mailed to the life insurance company and the proceeds are generally received 30 to 60 days later.
    Answered on August 30, 2013
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  2. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Life insurance can be paid out in a lump sum, or it can be paid out in regular payments over a set period of time. If paid out in payments, interest is added to what the beneficiary gets, to compensate for the insurance company being able to hang onto the proceeds of the policy longer.
    Answered on August 30, 2013
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