Buying a life insurance policy can be intimidating in Amarillo, TX. There are many questions to consider, such as deciding which policy is right for you, how much coverage you need, and what the policy terms should be. One of the most pressing questions we hear at Nest Insurance Agency is, "What happens if I die right after I buy a life insurance policy?" Fortunately, your family can still receive benefits. 

Life Insurance Payouts When You Die Right Away 

When you buy a traditional life insurance policy, like term or whole life coverage, your beneficiaries will receive benefits regardless of when during the term you pass away. Traditional policies are based primarily on death benefit payouts, not on accrued cash value like other insurance policies. As long as your premiums were paid up-to-date and your death falls within the term period, your beneficiaries will receive the total death benefit payout from your life insurance provider. 

No Waiting Period for Death Benefit Payouts 

Most life insurance policies do not have any waiting period before death benefit payouts can be made to beneficiaries following the insured person’s death. In other words, even if you die shortly after purchasing a policy, there won’t be any delay in receiving payments from the insurer—as long as all paperwork has been filled out correctly and premiums are up-to-date at the time of death. 

If you live in Amarillo, TX, and have questions about life insurance benefits, don’t hesitate to contact Nest Insurance Agency today! Our experienced agents would love to answer your questions about securing quality coverage for yourself or your loved ones. Get started building financial security with us today!