You purchase a life insurance policy to protect the financial future of your loved ones. If you die, your beneficiary on the policy will need to make a claim to receive those valuable benefits. While there is a bit of work to do, it shouldn't be overwhelming or stress-inducing.
Here is some basic information about claiming your term life insurance payout, the different payout options available, and some other common benefit concerns. We’ll cover the simple steps that should be taken by the policyholder and the beneficiary in order to make claiming a life insurance payout a simple and smooth process: