Understanding the death benefit
The death benefit is the core promise of a life insurance policy. If the insured person passes away while the policy is in force and the claim is approved, the life insurance company pays money to the beneficiaries that you named. This money can help your family cover living costs, keep up with the mortgage, manage debts, and continue long term plans.
The claims process is designed to be straightforward at a difficult time. Beneficiaries usually provide a claim form and a death certificate. The insurer then reviews the policy and confirms details. We explain each step in plain language so your loved ones know what to expect and how to receive the funds.
Ways beneficiaries often use the benefit
- Replace income during a transition period
- Pay down debts and medical bills
- Support education and future goals