The best option to help the insured's surviving spouse put the child in daycare after the insured's death would be the insurance proceeds.
Life insurance policies typically offer two different types of payouts to policyholders or their beneficiaries. Life insurance payouts often include death benefits provided to a designated nominee in the event that the insured person dies during the term of the policy. On the other hand, the insurer pays the policy holder the maturity benefits and bonuses, if any, if the policyholder survives the plan period.
The policyholder is therefore informed of the minimum amount that he can receive later. The amount of cash payable either as a death benefit or as an adult benefit is often defined in advance.
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