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One person take life insurance and pay money every month but in between that he is died does insurance give to his family

Posted by Samriddhi Paigwar 4 years, 11 months ago

CBSE > Class 11 > Business Studies

2 answers

Anny Solanki 4 years, 11 months ago

Yes, insurance company pay him

Meghna Thapar 4 years, 11 months ago

A life insurance policy has a face value and a cash value, and they are two different numbers. The face value is the death benefit. This is the dollar amount that the policy owner's beneficiaries will receive upon the death of the insured. When a Social Security-insured worker dies, the surviving spouse who was living with the deceased is entitled to a one-time lump-sum death benefit of $255. If they were living apart, the surviving spouse can still receive the lump sum under certain conditions.

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