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What's the diffence between Life Insurance and Death Benefits..?
Recently my Dad passed away and I'm trying to help my mom with all the paperwork concerning his death. His employers at the time of death sent over the death benefit forms, but not his life insurance policy, which was through them. We live in Texas..and I was wondering what my mom needed to do in order to obtain the life insurance policy...or if the two were the same..I don't think it is, but we are both lost as to what a lot of this is. My dad took care of all of this stuff...and now we have to.
So..the basic questions..
where does my mom get the life insurance policy?
Should she call my dad's employer?
(there was a policy, that we're 100% sure of)
Are the annuity and death benefits a form of his life insurance?
he worked for the united states postal service, but they sent over all the death benefits stuff, but not the life insurance policy..that's what is really confusing about the situation.
6 Answers
- car253Lv 71 decade agoFavorite Answer
Life insurance is the same thing as a death benefit. There is no insurance policy if the coverage is through his employers because it is a group policy. If its a group policy you do not need the policy to get the death benefit. All you need are the forms the employer is sending you along with the death certificate. It is a very simple process.
If your dad had a separate individual policy then his employers may be able to give you that information too. You will need to find out for sure if he has a group policy through his employer (and he probly does) or an individual policy or both.
Annuity benefits are different because it is a type of retirement account and/or savings account.
Hope this helps but you will have to ask the employer some of the questions you raised along with the ones I have raised too. Getting the money is really not difficult. All you do is fill out the forms and send them back with the death certificate.
Sorry for your loss. Good Luck.
Source(s): Insurance Agent - cathyLv 61 decade ago
His employer should be able to direct you to the right department (if it's a large company) or have you speak to the person who handles employee benefits (if it's a small company). They will help you through some of the paperwork and answer your last question. You might also have the actual policy somewhere. Look through all his paperwork.
My sympathy for your loss.
- 1 decade ago
Death benefits are same as life insurance. If your mom is not getting the policy papers of your father, she can do case against the employer.
You can contact me any time for any help. gaganagrawal88@yahoo.com
Gagan Agrawal
BA
Tata-AIG Life Insurance Co.
91-98274-85633
- Anonymous1 decade ago
Life insurance is actually very flexible. Since I live in South Carolina I'm not familiar with the Texas regulations, so I suggest you visit a local insurance agent. http://www.goodinternetdeals.com/Life-Insurance.ht... They will be able to help you.
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- Anonymous1 decade ago
Life insurance means that how much amount worth your life that u have got insurance....If u have insurance of Rs 10 lakh,...it means that in case of your death the company will your nominee an amount of 10 Lakh in the form of death benifit
Source(s): http://www.girdher.com/
