When you pass away, the life insurance company pays out the amount of money specified in the policy to your family or whoever you named as the beneficiary. You can choose to receive the money in one lump sum or in installments, similar to a lottery. However, unlike a lottery, life insurance is a worthwhile investment that can provide financial security for your loved ones.
Who Gets the Money from Life Insurance?
When you pass away, life insurance pays out the amount of money specified in the policy to your family or beneficiary. Learn more about how life insurance works and how it can provide financial security for your loved ones.
New Posts
What Happens When Term Life Insurance Expires?
Learn what happens when your term life insurance expires and what your options are for renewing or converting your policy.
How to Evaluate a Life Insurance Policy
Learn how to evaluate a life insurance policy by considering assumptions, results, carrier ratings, financial stability, tax benefits, and pension maximization strategies.
Can You Get a Refund on Term Life Insurance?
Find out if you can get a refund on your term life insurance policy if you cancel it within 30 days or after 30 days.
How Life Insurance Policies Get Paid Out
Learn about how life insurance policies get paid out when a policyholder passes away and how beneficiaries can choose to receive the money.
Leave Reply