General insurance Do you know of someone who had claimed a life insurance?

Alexandoy

VIP Contributor
It is unfortunate when there is a death in the family that grieving may take time. That is the advantage of having an insurance to cover the death in terms of the proceeds of the policy. At least the family will have something left after the funeral expenses and the money can definitely lessen the grief of loss.

When I was younger we had a neighbor who was insured for $20,000 which is big money during that time. When he contracted lung cancer his family seemed to be not much worried even if their father’s ailment is a terminal case of 5 months. Maybe the children and wife have taken the death not too hard because of the amount of the insurance policy that they would be receiving.
 

Mataracy

VIP Contributor
To me I think one of the advantages of taken up a policy is the interest to be receiving on the premium one is paying.
But its a pity that some people till now do not know that they have opportunity of getting interest on any premium they are paying.
 
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Mandy96

Valued Contributor
I don’t know if anyone who has ever received it but I am sure it could not be a way to extort money from people, although it is understandable that there are business strategies that the companies do use to make income for their various managements. So of course I vouch for it
 
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btaliat

VIP Contributor
Life insurance is called assurance because it deals with possibility and hit probability because it is certain that we will all die. This is the insurance to consider if the purchaser wants a befitting burial and he doesn't want to put his family members into unnecessary panic as a result of his death.
 
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Phabbyfundz

Valued Contributor
I don't know of any one who claimed life insurance policy or premium plan from a benefactor, but I do know that it is absolutely possible to claim life insurance policy if the benefactor rightly willed that insurance policy to the person or individual. And this is also among the numerous benefits of insurance policies.
 
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Good luck

Valued Contributor
I have never seen anyone who has taken life insurance benefits but it is possible to get such benefits later in future if anything happens to the insurer,the family or close relative,which is the next of kin can always claim such reward from the insurance company that the insurer is partnering with.but the person must not have any form of defaults in payment.
 
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btaliat

VIP Contributor
I have watched movies where the insured person benefitted from his term life insurance policy. But in real life, I have never seen. Personally, I cannot get myself involved in life insurance policy being term life or even whole life insurance policy. I see it as waste of premium since I can easily invest and save
 
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