Life Settlements and the Life Insurance Payout Toolbox
November 23, 2021 by Ashley Fabia
There are many options available to life insurance policy beneficiaries in regard to how they can receive the proceeds of the policy. But one often-overlooked payout method can prove beneficial in some circumstances. Life settlements are, in effect, a useful addition to the list of life insurance payout methods.
Typically, payouts are mailed within a few days to a few weeks of the insurance company receiving the proper documentation, including a certified copy of the death certificate. However, this process could face delays if the life insurance policy was purchased within two years of the policyholder’s death. If that’s the case, it is customary for the insurance company to investigate for fraud, which could take several months.