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Q: Does s s s you pay a one time death benefit?
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Does my auto insurance have to pay a death benefit to survivors if a one car accident causes a death?

The term "death benefit" refers to a payment made as a result of a life insurance policy. In the case of car insurance, if there is a lawsuit for wrongful death, and a payment is ordered by the court, then the car insurance will pay. That is not exactly the same thing as a death benefit even though it is a payment made as a result of a death.


How are accidental death benefits paid out when they double?

If your life insurance death benefit is for $100,000 and you have a 100,000 accidental death benefit rider and you die in an accident then your policy would pay $200,000.


Does the benificiary pay taxes on death benefit?

With regard to state taxes, it depends on the state in which you live. In some states, the death benefit from life insurance passes outside the estate and directly to the named beneficiary. So there is not tax. For federal tax The policy has a value at the time of death. That value is included in the estate,


What percentage of people with life insurance actually receive death benefit?

"Usually, a person has life insurance on himself. In that case, he would not receive the death benefit but his stated beneficiaries will receive the death benefit. " Can you answer the question : how many Whole life / Universal Life/ Cah Value pilicies pay death benefit to beneficiaries?


What happens to the death benefit where the insured commits suicide?

As long as the death occurred outside of the 2 year suicide clause and the policy was in force than the benefit would pay.


Do you lose your death benefit on an endowment life insurance policy if you live until the endowment and cash it in?

If you cash in the policy then yes it will not pay the death benefit because you have cancelled the policy.


Does Social Security pay death benefits?

If you are the primary person on Social Security in your family, they pay a $255 benefit. If you are not the above, then no.


Are life insurance benefits taxable in MN?

The death benefit itself will not be considered taxable income. However, if your state requires that the life insurance company pay interest on the death benefit if the claim isn't processed in a certain period of time, then the amount of interest is considered taxable.


What is double indeminity?

Double indemnity means paying twice the benefit. For example, a life insurance policy that will pay twice the death benefit for death by injury (rather than disease).


What happens if you are not willing to pay for your funeral?

If a funeral is not able to be paid for, the spouse or child of the deceased may be able to receive a one-time death benefit payment from Social Security if the deceased was on that. The deceased may also be buried by the state or cremated.


Why were American POW's in Germany not paid for their detainment but the Japanese were?

It is US Policy to pay POWS 'back pay' for their time in POW camps. If it didn't happen, you can generally blame the bureacratic nature of government. While its easy to have a policy sometimes its harder to adminster that policy. For instance, if a soldier is listed MIA, and dies in cativity, the natural process of the government might assume death, and pay the death benefit at the time the soldier was listed as MIA without ever really knowing the soldier WAS a POW. Then of course you have soldiers believed dead, who turn up living, now of course they want their back pay, but the government has already paid out a 'death benefit.'


What is basic term life insurance?

Term life insurance is what people call "pure insurance." You pay a premium for a specific period of time, usually 10 to 30 years, and the company will pay a death benefit to your beneficiary if you passed away in that time period. You designate an amount with the insurance company and they will pay exactly that amount.