What happens to insurance contracts when the policyholder dies?
A sad reality, but deaths are inevitable, and this reality must be accepted by everyone. In this time of pain, people are often overwhelmed and don’t know what to do next. One of the things that is required is to take the time to find out what financial obligations the deceased left behind and how the corresponding insurance contracts will be handled.
There are several types of insurance, including life insurance and health insurance, that can provide financial support in the event of the policyholder’s death or disability. However, it is important to know what happens to these insurance contracts after the policyholder dies, as there are several ways they can be handled.