Thinking about the end of our lives may be difficult for all of us. However, if we want our family and loved ones to be provided for after we pass away, it’s essential to buy life insurance. If you live in the Matthews, NC, area and have questions about life insurance, our agents at Jim Boyce Insurance will gladly offer you a wide range of insurance options. We’ve been working with clients in your area since 1973.

The Process for Collecting Death Benefits

You may wonder how your beneficiaries will be able to collect death benefits from your life insurance policy. According to the North Carolina Department of Insurance, your insurance company must receive a copy of the policy, a completed claim form, and proof of your death. Acceptable proof of death is either a certified copy of a death certificate or a signed letter from the physician with details of the death.

If the insurance company doesn’t pay out the benefits within 30 days of receiving the necessary documents, interest will begin to build up on the amount of death benefits owed to the beneficiary. Once the claim is approved, the beneficiary may choose how the payout is administered. Some beneficiaries will take the payout in a lump sum, while others may request it be placed into an interest-bearing account, which they can access when they need funds.

Call Us Today for Your Appointment

There is more than one type of life insurance policy you may be interested in, and you may want more information before making a decision. Our agents at Jim Boyce Insurance can explain how each type of life insurance works and which might fit your needs. Potential clients in the Matthews, NC area can feel confident when placing their insurance needs in our hands. Call us for an appointment today to discuss your life insurance needs.