The proceeds from a life insurance policy, also known as, the death benefits, are paid out to the beneficiary or beneficiaries of a life insurance policy upon the death of the insured person.

The beneficiary contacts the insurance company after the insured has died, to make a claim for the death benefit from the policy.

The insurer will mail the forms to the beneficiary that need to be completed in order to make the claim for the death benefits.

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If you are buying life insurance you may be wondering who gets the proceeds from your insurance policy when you die.

It's an important question to consider.

The Beneficiary is the person or persons you choose to receive the death benefit from your life insurance.

You select a beneficiary when you purchase your life insurance.

You may be able to change the beneficiaries after the life insurance policy is "In Force".

And, you may select more than one person to receive a portion of your death benefit...

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Yes, the beneficiary of a life insurance policy can claim the money from the death benefit of a life insurance policy.

In fact, only the beneficiary may make claim for a death benefit, if the beneficiary is alive to make a claim.

In order to claim the money as beneficiary you must be named as a beneficiary in the life insurance policy, and the insured person must have died while the coverage was In Force and the premiums paid up to date.

Learn more about Can the beneficiary of a life insurance p...

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Is there any life insurance coverage where you can get money back on your insurance policy?

Yes. It's called "Return of Premium" term insurance and it returns almost all of the premiums you paid throughout the life of your policy, if you outlive your policy term.

However, the premiums you pay for this type of life insurance policy are usually much higher than you would pay for a regular term life insurance plan that does not return your premiums.

Learn more about a life insurance policy where yo...

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If you are shopping for a term life insurance policy, you may be wondering if you get any money back should you outlive the duration of your coverage.

It's a good question and something you should find out about before you buy a policy.

Traditional term life insurance is much cheaper than permanent life insurance, because many people do outlive their coverage.

However, if you are alive when your term policy expires, there is no payout of benefits and no premium return.

You don't get any money bac...

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Is there life insurance you can purchase that will pay you your money back when the policy ends?

Yes, it's called "return of premium", "cash back" or "money back" life insurance.

It's term life insurance that returns all of the paid premiums back to the owner of the life insurance policy should the insured person still be alive when the coverage period (term) expires.

So, if you buy a ten year return of premium term life insurance policy and you are alive after the ten year term ends, you would ...
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Is there a way someone with cancer can get a loan?

Yes, in fact, there is a company that offers a way for you to get a loan from your own existing life insurance policy.

This type of loan provides you with money you can use as you need, without having to make any loan payments.

Learn how to get money for cancer patients and find out how much you can get.
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In most states the insured has 10 days in which to examine their life insurance policy, and if not satisfied, to return it to the insurance company for a full refund of the initial premium paid to the insurer.

Free look periods may vary, but the minimum amount of time for a free look is usually 10 days.

The free look gives you a guaranteed refund if you are not satisfied with the purchase of your life insurance policy. So, you get back the money you paid to start your life insu...

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The short answer is to buy your life insurance coverage now.

No matter how old you are, you will never be younger than you are today. Age can be a significant factor in determining the price you pay for your life insurance policy.

Many life insurance companies offer special rates on either the life insurance policy or the home or auto insurance policy when you buy your insurance policies with one company, so ask if the company offers any incentives.

Paying your insurance premi...

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To save money Buy your life insurance policy now.

Premiums for the same face amount of life insurance coverage increase the older you become. The longer you wait to buy your coverage, the more you risk developing a health issue that could increase your premium, or disqualify you from being able to purchase life insurance coverage.

If you want permanent life insurance but you're on a budget, term life or a combination of term and permanent may offer lower premium payments. An...

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The reason you might purchase life insurance instead of an annuity depends on what you're trying to accomplish - what your goal is for your insurance or annuity plan.

Annuities provide cash while you are still living, while life insurance provides cash to the beneficiary upon death of the insured person.

So, annuity can provide you with cash, while life insurance can provide your beneficiary with cash at some future time.

With life insurance, you're paying a regular premium u...

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If you're shopping for life insurance you may want to consider these tips to help you save some money when purchasing life insurance:

1. Compare rates for life insurance from multiple insurers since rates can vary widely among companies.

2. Consider term life insurance instead of whole life insurance since term life costs a lot less for up to 30 years of life insurance protection.

3. Choose annual premium payments instead of monthly premiums.

4. Buy life insurance more than 6 months before your n...
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No, you cannot borrow money from a term life insurance policy.

A term life policy does not build up any cash value inside the policy over time like a permanent life insurance policy.

Term life is "pure protection", not an investment.

You may cancel your term life policy and you may get some of the premiums paid back, but there is no money inside the policy to borrow from, just life insurance protection.



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