Health and Life Insurance

Category - Annuities & Policies

Claims on life insurance policies are
  1. Always negotiated
  2. Rarely negotiated
  3. Always paid in full immediately
  4. Rarely paid in full
Explanation
Answer: B - Claims on life insurance policies are rarely negotiated. Life insurance policies are either paid or denied. Once a notification of death is received by the claims department, the policy is inspected to insure that it is in force and the rightful beneficiary receives the payments. Once this is completed, most jurisdictions require death claims to be paid usually within 2 months of receipt of the notification and receipt of the death certificate.
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