Many insurance company customers and many advisors who deal with the bereaved have told companies that the immediate aftermath of the death of a loved one is a bad time to make financial decisions→ Read More
Collecting Death Benefits
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Should I elect to take life insurance benefits through a Retained Assets Account? Should I leave my money in a Retained Assets Account at the insurance company? If so, for how long?
Beneficiaries have told insurance companies that they often need time to decide how to readjust their lives and their finances. Putting the money in an interest bearing account gives beneficiary some time to decide how to spend or invest the proceeds.→ Read More
Suicide is not covered during an initial period of a year or two years which is stated in the policy’s suicide clause→ Read More
If There Is A Delay In An Insurer Paying The Death Benefits After A Claim Is Made, Is The Beneficiary Entitled To Any Interest On The Death Benefit?
Yes The insurance company is entitled to take a reasonable amount of time to finish any necessary investigation and processing, but it should pay interest to compensate the beneficiary for the delay→ Read More