What is the typical number of days for a primary beneficiary to outlive the insured under common disaster and survivorship clauses?

In the context of life insurance policies, common disaster and survivorship clauses are important provisions that dictate what happens to the insurance benefits in situations where the insured and the primary beneficiary both die in a common accident or disaster.

Typically, these clauses stipulate a requirement for the primary beneficiary to survive the insured for a specific period to qualify for the death benefit. The standard time frame, which reflects what is common practice in the insurance industry, is often 15 or 30 days. This duration sets a clear expectation for the insurance company regarding the circumstances in which it will need to pay out the benefit and ensures that the primary beneficiary must outlive the insured for a specified time, thus preventing potential disputes over who dies first in tragic situations.

This ensures that the death benefit is passed to the intended recipient and safeguards against scenarios in which the timing of deaths could complicate beneficiary designations and policy payouts. This standard clause protects the financial integrity of the policy and clarifies the distribution of benefits.

Thus, the choice of 15 or 30 days aligns with established practices in insurance policy drafting, making it the correct selection when considering common disaster and survivorship clauses.