Life insurance can help cover necessary funeral expenses and ensure a family can maintain financial stability after a loved one passes. However, there are several myths that life insurance won’t pay a death benefit if there’s a chance the deceased was murdered. That’s not entirely true. Learn more from the professionals at Brittany Olson Insurance Agency LLC, serving Cloquet, MN.
It Depends On Who The Murderer Was
Whether the death benefit still goes to the beneficiary depends on whether the person who murdered the policyholder was also a beneficiary. If there’s a chance the person was killed so someone could get the death benefit, that person will usually be excluded from the death benefit.
The company with the policy may still pay the death benefit to remaining heirs or beneficiaries. This often depends on the company and policy regulations. Contact an agent at Brittany Olson Insurance Agency LLC, serving Cloquet, MN and surrounding areas, to learn more about your policy.
Delayed Benefit
The death benefit will often take longer to be paid out. The company holding the policy will want to wait for a proper police investigation to determine whether a beneficiary is a suspect. If a beneficiary is a suspect, the company may wait until they are either cleared or convicted before it releases the payment to ensure it doesn’t go to the murderer.
This also applies if the death is flagged as suspicious. Many companies will want a suicide investigated, too.
Suicides and murders can delay the death benefit, and this is just standard procedure. An agent at Brittany Olson Insurance Agency LLC can help you learn more about what to expect in this situation. Contact us today. We’re currently serving the Cloquet, MN area.
