Life insurance - policy voided / bank account frozen

[Crunchybiscuit1]

My husband pays his life insurance premiums via monthly direct debit from his own bank account. In the event of his death, the bank would stop all direct debits when notified that he had died. This would void his life insurance policy. So should i delay telling the bank until after the policy paid out?

Or should he be paying the insurance premiums from our joint account, as this would not be frozen when the bank was notified of his death?

Wouldn't the policy pay out on his death? It cannot be cancelled after the event, surely?

You would nominate the account the payment would go to.

The policy becomes payable at the date of his death, not when the company are advised, so no premiums are due after the date of his death.

Why would that be a problem, you don't need to pay for your life assurance once you've died do you?

Surely this happens to everyone who dies

Once he’s dead then no more payments would need to be made as the insurance event has occurred surely?

You'd think. But what if the next dd is due? If there's a way to get out of paying, I'd imagine they'd try it.

You are overthinking this. The policy is due to pay out the minute he dies. As long as it’s active at that moment, even if the premium is due the next day, then it will pay out.
Tbh not sure why you are focusing on this?

It wouldn’t be due though. He’d be dead.

But he would already be dead by the time you notify the bank, anything that is due to be paid or refunded from any financial organisation is based on the date of death.

If a premium needs to be paid to cover the date of death (e.g. your policy may have started on 1st of the month but you pay your DD on the 15th), it will be deducted from the sum paid out. Equally if any premiums are collected after the period covering the date of death, they will be refunded