III identifies the ways in which life insurance benefits may go unclaimed

Posted on: Tuesday, May 17, 2011

When selling life insurance, agents may find some people are hesitant to purchase it because they're worried that their benefits will go unclaimed after they die.

While this is something that does happen, the best way to make to make the sale may be to apprise potential clients of the situations wherein such a scenario might arise.

The Insurance Information Institute has outlined a couple of those scenarios.

III says one way this can happen is if the policyholder fails to inform the life insurance company about where they're loved ones have relocated to. To avoid this, III says policyholders should stay current on their loved one's whereabouts and inform their life insurer as soon as they've moved.

Another common issue leading to unclaimed benefits is the life insurance company not knowing the policyholder has died. III says usually the only way the company is informed is via a family member. Thus, III says beneficiaries should know how to get in contact with the policyholder's life insurance company so payment can be remitted in the event the policyholder dies.

Going over all the worries a life insurance lead may serve as the best way to make a sale.

Posted In: Insurance News, Life Insurance

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