What Happens With Life Insurance After Death?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Life insurance must be cashed in after the insured person passes away. If a Term policy, it will pay the amount of the death benefit for which the policy was taken out. If a Whole Life or Universal Life policy, there may be some additional coverage due to the policy growing over time. You do have time, though; even policies that are discovered years later can still have a claim made on them.
    Answered on May 29, 2013
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  2. 0 POINTS
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    David RacichPRO
    Fountain Hills, Arizona
    Assuming the policy is in force at the time of the insured’s death, the following is a quick outline of the items that are processed for the death claim. After the insured has died the beneficiaries generally file the certificate of death with the obituary of the insured. The verification process can take from 30-60 days to cut the death benefit proceeds check.
     
    Answered on May 29, 2013
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  3. 5877 POINTS
    Stan Cox II
    Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
    As long as a Life Insurance policy is in force at the time of death the death benefit of the policy will be paid to the named Beneficiary. At that point the policy is fulfilled. Unless the policy happens to be a "Survivor" policy where the death benefit is paid only on the death of the "last to die" or second to die. The death benefit is then paid to the beneficiary on the death of the last to die and the contract is fulfilled.
    Answered on June 30, 2015
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