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Daily Court Reporter - News What consumers need to know about life insurance benefit payment options

What consumers need to know about life insurance benefit payment options

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(Columbus) The death of a spouse, parent, child, partner or other loved one is a difficult time. In addition to the emotional stress present during the weeks, months or years following a death, financial burdens may also arise. Life insurance is intended to assist with these financial burdens. While life insurance policies provide for a single payment of the death benefit, policies may also offer other payout options that are intended to fit your needs and those of your family. Ohio Department of Insurance Director Mary Jo Hudson suggests you consider the following information if a life insurance company offers you a Retained Asset Account as an option to a single payment.

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Date Published: September 7, 2010

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