How Does Life Insurance Payout?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaUpon 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, 2013flag this answer.JPG)
63333 POINTSContact Meview profilePeggy MacePROMost 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+11+1 this answer
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