U.S. consumers are telling pollsters they tell life insurance policy beneficiaries about the policies.
Nationwide Financial Services Inc., a unit of Nationwide Mutual Insurance Company, Columbus, Ohio, has reported that finding in a summary of results from a recent online survey of 805 U.S. life policy owners.
About 91% of the policy owners said the policy beneficiaries know they are beneficiaries, and 70% of the owners said they are confident that the beneficiaries would know how to file a claim.
About 53% of the owners said they have told the beneficiary about the policy death benefit, and 20% have told the beneficiary the name of the insurance agent who sold the policy.
But 57% of the policy owners who have talked to the beneficiaries about the existence of the policy admitted that they have not told the beneficiaries where the policy is located
- Allison Bell