No, as long as you name a living beneficiary. Life insurance with a named beneficiary is paid directly to that person and skips probate.
Claims are often paid within a few weeks of the insurer receiving a death certificate and claim form. If you name your estate, leave the beneficiary blank, or all named beneficiaries have died, the proceeds may go through probate in the county where you lived, such as Knox County. Probate can take months and cost your family time and money.
Review your beneficiaries after marriage, divorce, or the birth of a child, and always name a contingent beneficiary.
Questions about your own policy? Ace Insurance Consultants in Knoxville helps homeowners and drivers across Tennessee compare options from multiple carriers.
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