Policy Settlement (F.S. 627.461, .4615, .462)

When an insured dies, settlement is paid upon receipt of proof of death and surrender of the policy (F.S. 627.461, .4615, .462). A lump-sum death benefit must include interest from the date the insurer receives written proof of the insured's death. If the policy pays the death benefit in installments, the policy must include a table showing the amount and period of the installments.

Turn in proof of death plus the policy; a lump sum earns interest from the day the proof lands, and installment plans must print their payment table in the contract.