What is a Life Insurance Settlement?

A life insurance settlement is a payoff when a whole life insurance policy is redeemed. The life insurance settlement is usually paid within 30 days.

However there are some requirements for the life insurance broker to pay you that life insurance settlement. There is usually some death claim forms to be filled out. Furthermore if there is a large whole life insurance settlement there might have to be a medical history background completed.

If there is a medical history background to be completed the life insurance broker will make you aware of it. This will normally delay the processing of the life claim.

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This entry was posted on Thursday, March 2nd, 2006 at 2:34 pm and is filed under Life Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.