Life Insurance: The Ins And Outs Of The Claims Process

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If you're reading this now then one thing that's for sure is that you're well aware of the fact that life insurance is very important and should form part of your existing financial strategy. However, just because you've endeavoured to take out a life insurance policy on the back of its promise of all the great benefits it'll have for the listed beneficiaries you'd be leaving behind upon your death, that doesn't mean your involvement is over Ð your involvement beyond honouring your premium payments, that is...

In addition to your obligation to make sure you keep paying your premiums, or at least inform your insurer of any problems which may keep you from making your premium payments, you need to make sure your listed beneficiaries who would naturally be your financial dependents are aware of the fact that you have a life insurance policy. Furthermore, your listed beneficiaries would need to know exactly what to do in order for them to receive the monies due to them as you won't be around to walk them through the process.

What You'll Learn

These sorts of things are never nice to have to think about, but it's a necessary thought-process nevertheless. In order to squeeze as much morbidness out of this necessary thought-process as possible, we've compiled what we hope will be a fun quiz to help you better understand the typical life insurance claims process. Once you understand the claims process as the policy holderyou can then pass the information on to your listed beneficiaries. In fact, how about you complete the quiz together with your beneficiaries? This will make it easier to digest what is the inevitable reality tied to your suitably justified initiative to take out life insurance in the first place, which is to make sure your loved-ones who are financially dependent on you are able to cover their expenses once you're gone.

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