How Does Life Insurance Work If I Die?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaIf you are the insured of an in force policy and die, the policy beneficiaries will receive the death benefit proceeds about 30 to 60 days after your demise. Generally, when a policy insured dies, the policy beneficiaries (sometimes the policy owner) contact the life insurance company and receive the carrier’s death claim form. That form is filled out and returned with the certificate of death and the newspaper obituary. Again, it can take between 30 and 60 days to receive the policy proceeds.Answered on July 9, 2013+01+1 this answer
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63333 POINTSview profilePeggy MaceMost of the U.S.When you die, the life insurance benefit is paid to your beneficiary in a lump sum, or in installments. You can talk that over with your beneficiary now and decide which is best, or your beneficiary can wait to see what method of receiving the death benefit is most cost effective at the time of death. The proceeds are generally income tax exempt and can be spent however your beneficiary wishes.Answered on July 10, 2013flag this answer
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