A life insurance beneficiary is a person or party named in a life insurance policy to get the death benefit, according to the Insurance Information Institute. Policyholders can designate one or more people as beneficiari... More » Business & Finance Insurance

The Unclaimed Life Insurance Benefits Act is a resolution passed by the National Conference of Insurance Legislators that requires insurers to aid beneficiaries of life insurance policies to claim their benefits, accordi... More » Business & Finance Insurance

People who are possible beneficiaries of unclaimed life insurance policies should search through personal papers of the decedent and contact life insurance companies the decedent may have dealt with, reports Bankrate. Ol... More » Business & Finance Insurance
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A death benefit is a lump sum or annuity paid out upon the death of a life insurance policy holder to the beneficiary of the policy, according to Fidelity. Death benefits are generally tax-free. More » Business & Finance Insurance

A term life insurance policy is a straight-forward product where a person pays monthly premiums in exchange for a guaranteed death benefit. It is called a "term" policy because it covers the insured person for a certain ... More » Business & Finance Insurance

Life insurance works by having the beneficiary, normally the family of the individual who buys life insurance, receive a fixed amount of money in case the insured individual dies within the period determined by the insur... More » Business & Finance Insurance

The terms and conditions of life insurance vary depending on the life insurance policy and the type of life insurance, according to HowStuffWorks. Life insurance is either term or permanent, and can be paid monthly, quar... More » Business & Finance Insurance