What is a life insurance beneficiary?
A beneficiary receives any money paid out by an insurance claim.

What if your beneficiary is not an adult?
If you name a beneficiary who is not yet legally an adult, you should also name a trustee who will administer the payout until they come of age. if you do not name a trustee then your province will administer the payout until your beneficiary comes of age. If you are a beneficiary, you have a job to do when your loved one passes away. On top of your grief. You must notify a long list of people, companies, and government departments. You must confirm where his money was, when his bills were due and how much he owed. You have the funeral to plan. Will felt so complicated that it could have been overwhelming to figure everything out. But one necessary task turned out to be simple and straightforward: filing a life insurance claim.

Maybe you’ve never done it before, and you don’t know what to expect. You can use this money to replace lost income if the person who died (such as a spouse) helped pay your bills, school, special needs.
What did I need to file a life insurance claim?

1. A short, signed form with a seal called a death
   certificate. The funeral director provided several
   copies. If a funeral director isn’t involved in your
   case, your provincial or territorial government can
   provide copies.
2. The policy itself, or an annual policy
   statement. The key item on this document was the
   policy number.
3. The claim form. You can downloaded it from the
   insurance company’s website.
   Always you can contact your insurance agent.
   When did I file the life insurance claim?
   As soon as I had the documents I needed, I filed a claim. (It felt soon, frankly, but we needed the
   money to pay for his funeral).
   How long did it take the insurance company to pay the life insurance claim?
   Insurers will pay claims in anywhere from a few days to a few months. You may be able to ask
   for an electronic funds transfer is faster than a check.
   Did I have to pay tax on the death benefit?
   No. The death benefit from a life insurance policy is tax-free.
   For more information visit my Linktr.ee or call me at (647) 823-1053 to get your FREEconsultation today. Best Regards, Lineth Orea