Tom Meaglia photo

Tom Meaglia, ChFC®, AEP®,


Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507


Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750


Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120




November/December 2022

Claiming Life Insurance Benefits

Claiming Life Insurance Benefits

The beneficiary of a life insurance policy is a person or entity specifically named in the policy to receive the policy’s proceeds. The benefit may be paid to one or more people, a charitable organization, a trust, or a business. A beneficiary designation supersedes any instructions contained in a will.

If You’re a Beneficiary
If you’re the beneficiary of a life insurance policy, ideally, the policyholder will have given you the name of the insurance company and the policy number. If you don’t have that information, your own insurance agent may be able to help you track it down. Alternatively, the insurance industry maintains an online database that you can search for information.

What You’ll Need
You’ll have to submit a certified copy of the death certificate, along with claim forms, to the insurance company. Claim forms generally are available online or directly from the company if you don’t have access to a computer or a printer. You can request multiple copies of the death certificate from the funeral director. Unless the policy has lapsed or there are questions surrounding the death, your claim should be processed relatively quickly.

Taking Proceeds
You have several options for receiving life insurance proceeds:
  • Lump Sum You’ll receive the entire death benefit as a single amount. If you have an immediate need for the money — for example, to pay off a mortgage, fund a college education or finance retirement — a lump sum payment may be a good option.

  • Specific Income Provision The insurance company pays you principal and interest on a schedule that you determine.

  • Life Income Option You receive a guaranteed income for life. The income amount will depend on the death benefit, your gender, and your age at the time of the insured’s death.

  • Interest Income Option The company holds the insurance proceeds and pays you interest on them. The death benefit goes to a secondary beneficiary upon your death.

Before you decide how you want to take life insurance proceeds, talk with your financial professional. Together, you can design a strategy for taking proceeds based on your short- and long-term goals.


Enter your Name and Email address to get
the newsletter delivered to your inbox.

Please include name of person that directed you to my online newsletter so I can thank them personally.


Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

Investment advisory services are offered through Fusion Capital Management, an SEC Registered Investment Advisor. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the commission and does not mean that the advisor has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.