When Does The Beneficiary Collect From A Life Insurance Policy?
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63333 POINTSview profilePeggy MaceMost of the U.S.The beneficiary collects from a life insurance policy after the insured person dies. You must obtain a certified death certificate, and contact the insurance company or your agent for a death claim. You fill out the death claim and mail it with the death certificate to the address on the form. They will process it and send you a check for the face amount of the life insurance policy.Answered on May 24, 2014flag this answer
4249 POINTSview profileGary LanePresident, Lane Independent Agency, Southern CaliforniaWith a quality life insurance carrier, your family will have their check within a week. Some companies will challenge everything, and hold up payments for six months. Then they will try to get the beneficiary to invest the money in their annuities, instead of just giving them a check. Be careful in selecting your carrier. Talk with a trusted agent. A quality company will make sure your family has their money when they need it. Thank you. GARY LANE.Answered on May 24, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is a great question! The only way that a beneficiary can get any money out of a policy is when the insured passes away. At that point, the beneficiary needs to contact the insurance company and file a claim. There will be forms to fill out and send in, and the death certificate will need to be sent also. Once all of the details are sorted out, the insurance company writes the check, and it is issued. Thanks for asking!Answered on May 27, 2014flag this answer
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