Life Claims Payment Options

The Life Claims area has received questions recently from our partners in the field around the settlement options that are available to a beneficiary when an insured passes away. In addition to the Lump Sum payment option, we offer five structured payment options that are briefly described on page 7 of the Life Insurance Claim Form (COMB 38B).

To provide additional information about the options that can assist you in helping the beneficiary come to the right settlement option decision for them, read the “Your Options” brochure (COMB 96857). The brochure provides in-depth information about each of the options that are available and what should be included in Section 4 of the claim form, How to Receive Your Funds. Please keep this handy, as we believe it is a valuable tool to use when discussing the claim process with the beneficiary. The interest rate credited for the structured settlements varies from policy to policy; please contact the Call Center Claims Unit for the appropriate rate.