When you pass away, the life insurance company pays out the amount of money specified in the policy to your family or whoever you named as the beneficiary. You can choose to receive the money in one lump sum or in installments, similar to a lottery. However, unlike a lottery, life insurance is a worthwhile investment that can provide financial security for your loved ones.
Who Gets the Money from Life Insurance?
When you pass away, life insurance pays out the amount of money specified in the policy to your family or beneficiary. Learn more about how life insurance works and how it can provide financial security for your loved ones.
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Is it Too Late to Get Life Insurance at 60?
At age 60, certain doors close certain life insurance products due to the maximum age. Learn more about the types of life insurance available for those over 60.
What Age Do You Stop Needing Life Insurance?
The age at which you no longer need life insurance depends on a variety of factors, including the type of policy you have, your current financial situation, and your future plans. Learn more about when to stop needing life insurance.
What is the Payout of a Life Insurance Policy?
When you purchase a life insurance policy, you pay a premium that remains the same for the duration of the policy. If you die during the covered period, your policy will pay out a death benefit. Learn more about life insurance payouts and how they work.
How to Evaluate a Life Insurance Policy
Learn how to evaluate a life insurance policy by considering assumptions, results, carrier ratings, financial stability, tax benefits, and pension maximization strategies.
