Team photo
Centuria Financial Group


David P. McCabe,


Financial Planner, Prudential Advisors


Jason M. Bowers,


Financial Planner, Prudential Advisors


Nathaniel D. High, RICP®

Financial Planner, Prudential Advisors


Nicholas Over

Financial Planner, Prudential Advisors


Melissa L. Lang

Client Relations Manager, Prudential Advisors


Centuria Financial Group

2333 Baltimore Blvd Suite B

Finksburg, MD 21048


Phone:  443-952-7232

November/December 2022

Claiming Life Insurance Benefits

Claiming Life Insurance Benefits

The beneficiary of a life insurance policy is a person or entity specifically named in the policy to receive the policy’s proceeds. The benefit may be paid to one or more people, a charitable organization, a trust, or a business. A beneficiary designation supersedes any instructions contained in a will.

If You’re a Beneficiary
If you’re the beneficiary of a life insurance policy, ideally, the policyholder will have given you the name of the insurance company and the policy number. If you don’t have that information, your own insurance agent may be able to help you track it down. Alternatively, the insurance industry maintains an online database that you can search for information.

What You’ll Need
You’ll have to submit a certified copy of the death certificate, along with claim forms, to the insurance company. Claim forms generally are available online or directly from the company if you don’t have access to a computer or a printer. You can request multiple copies of the death certificate from the funeral director. Unless the policy has lapsed or there are questions surrounding the death, your claim should be processed relatively quickly.

Taking Proceeds
You have several options for receiving life insurance proceeds:
  • Lump Sum You’ll receive the entire death benefit as a single amount. If you have an immediate need for the money — for example, to pay off a mortgage, fund a college education or finance retirement — a lump sum payment may be a good option.

  • Specific Income Provision The insurance company pays you principal and interest on a schedule that you determine.

  • Life Income Option You receive a guaranteed income for life. The income amount will depend on the death benefit, your gender, and your age at the time of the insured’s death.

  • Interest Income Option The company holds the insurance proceeds and pays you interest on them. The death benefit goes to a secondary beneficiary upon your death.

Before you decide how you want to take life insurance proceeds, talk with your financial professional. Together, you can design a strategy for taking proceeds based on your short- and long-term goals.



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Life insurance is issued by The Prudential Insurance Company of America, Newark, NJ, and its affiliates. Centuria Financial Group is not affiliated with Prudential Financial. Centuria Financial Group sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Centuria Financial Group is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Centuria Financial Group and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Prudential Advisors is a brand name of The Prudential Insurance Company of America and its subsidiaries. Melissa L. Lang is employed by David McCabe and not The Prudential Insurance Company of America or its subsidiaries.
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