1. Call the life insurance company to file for the death benefit
2. If the death was accidental, you may be eligible for a larger benefit
3. Talk to a financial advisor to understand whether you will need the benefit to cover current living expenses or whether you can invest the proceeds to grow for living costs down the road
Most likely, your advisor will build a financial plan, and the proceeds will be a component of the larger plan.
Social Security Impact
A one time benefit of $255 is provided. A surviving spouse age 60 or over is eligible for a benefit. If you were already both receiving benefits, you will receive the higher of the two.
