Many life insurance beneficiaries think that their check will be delivered to them once the policy holder dies. However, you need to know that to be able to get your payout, there are some things that you need to do first. According to statistics, the payout for life insurance to Americans reaches up to $60 billion every year. But according to life insurance firms, there are still many unclaimed policies to date.
If you need to make a claim, here are the steps to follow.
Upon receiving your money, there are two methods to receive your life insurance claim payout:
1. By Installments. The insurance company will keep the money and you are given some of the options below:
2. By a Lump Sum. You are given a draft account, in which you can withdraw any amount of money at any time until the payout is exhausted.
The following are ways to make a claim and receive your money. If you want to protect your family financially, talk to an agent now and discuss your options. At Covensure Brokerage, we offer flexible insurance policies that cater to your needs. You can get more information about our products and services by calling our agency at (248) 572-1580. Get your free quote today by CLICKING HERE.