Life Insurance, Superannuation & Death Benefits
Life insurance death benefits
Traditional life insurance is in the form of “term” or “whole of life” cover which matures at a particular age or on death. But some hybrid or “recuperator” policies provide for unexpended benefits being paid out as a death benefit on the insured’s death.
It is essential for executors and administrators to consider all Life Insurance, Superannuation & Death Benefits policies to determine whether any death benefit is available.
Even some income protection and critical illness policies might respond with a death benefit payment in the event of the insured’s death.
The first place for the executor or administrator to investigate is the deceased’s insurance broker. Where there is no broker, the policy itself should be sourced from each insurer so that they can be carefully scrutinised to determine what if any benefits can be recovered for the benefit of particular beneficiaries or the estate as a whole.
It is recommended to speak to our experienced estate administration lawyers to discuss how to take the best course of action for Life Insurance, Superannuation & Death Benefits. An expert team member is available to meet with you at our Brisbane Head Office or at our Princess Alexandra Hospital office or at our Browns Plains Medical Precinct satellite office.
Call or email today to get expert Life Insurance, Superannuation & Death Benefits advice from an Estate expert at Carter Capner Law.