What You Should Know About Life Insurance. An ACLI guide to help you choose the right life insurance products to meet your needs.
Tips on Buying Life Insurance (PDF). Choosing a life insurance product is an important decision. As with any major purchase, it is important to understand your family's needs and the options available. Use this list of buying tips to help you choose.
State Insurance Department Directory. The State Insurance Department Directory, with contact information for 50 states, the District of Columbia, Puerto Rico, Guam, and the U.S. Virgin Islands. Includes names and phone numbers for key personnel and specific subject contacts.
When any insured person dies, the life insurance company that issued the policy may place the death benefit proceeds into a retained asset account. These accounts accrue interest for the beneficiaries while they decide what they want to do with their benefits. Beneficiaries have full and immediate access to their benefits and can withdraw some or all of it at any time.
Retained asset accounts have existed since 1982. They were developed in response to requests from policyholders who wanted their life insurer to provide a service that would allow them to delay major financial decisions during an emotional and vulnerable time. Today, many insurers provide beneficiaries with this service for both group and individual life insurance policies. According to the National Association of Insurance Commissioners, there have been few if any complaints with regard to these accounts.