Insurance

Check for any insurers that may have issued policies to your spouse. Your spouse may have had a number of  types of insurance policies, including the following:

• Life insurance,
• Mortgage or loan insurance,
• Accident insurance,
• Auto insurance,
• Credit card insurance, and
• Various types of insurance provided by your spouse's employer.

The proceeds from an insurance policy can generally be paid directly to the named beneficiary. These claims can be processed quickly and are an important source of income for the survivors.

You may be required to decide on a payment plan. Options might include taking the money in a lump-sum, or having the insurance company make fixed payments over a period of time. Which payment option to choose depends on your financial situation. You may, for example, want smaller fixed payments in order to have a steady income. Or you may want the full amount immediately to pay bills or to invest. It is recommended that you consult with a financial advisor about this decision.
Do not succumb to pressure from an insurer to accept one plan or another. Take your time and make the right decision