Death Benefit Loans – When a loved one dies, they may be entitled to part of the deceased person’s insurance checks. Spouses are often approved to get some or all of their loved one’s insurance checks upon death. The money is sometimes paid in weekly payments or sometimes the money is paid in one lump sum. Mostly, the spouse of the deceased loved one gets a certain percentage of the check such as 55% of the annuity check. The amount of money depends on the kind of policy that the deceased loved one had at the time of his or her death. It’s a good idea to get these death benefits as it gives reassurance that surviving loved ones are taken care of upon the death of their spouse.
Death Benefit Loans Definition
Last Updated Jan. 10th, 2017 by RKT