Being the beneficiary: How are you notified of payments?

If you are the beneficiary of someone’s structured settlement payments or annuity you will more than likely know of the person’s passing. A question will probably arise of when do the payments begin and how will you be notified. The insurance company will more than likely send out a document to you stating what you are to receive and the time frame. A sample of a letter that would be sent would look something similar to the following:

Dear Beneficiary,

We have been notified of the death of (annuity owner). Please accept our sympathy on your loss. To assist you during this difficult time, we will process your benefit option request as efficiently as possible.
The owner was receiving these payments:
The benefit options are available:

Enclosed is a claimant statement for you to make your election. In addition, we also require a certified death certificate. We have not received a certified death certificate. Therefore, upon receipt of the above referenced information, your request will be processed.

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