Insurance
Death Benefit Claim Paid
Settling a life insurance claim following the death of the insured.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Outstanding Claims Reserve — Life | Liability (-) | 100,000.00 | - |
| Cash / Bank (Death Benefit) | Asset (-) | - | 100,000.00 |
💡 Accountant's Note
Death claims are the core liability of a life insurer. They are paid to the nominated beneficiary upon production of the death certificate and completion of the claims form. Reinsurance recovery applies for large sum-insured cases.
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