What is typically required for an insurance policy benefit to be paid out?

For an insurance policy benefit to be paid out, it is essential that the policy is currently active. An active policy indicates that the insurance coverage is in effect at the time of the claim. This means that the insurer is obligated to fulfill its responsibility and provide the benefits outlined in the policy.

While other factors, such as filing a claim and paying premiums, are also crucial in the process, the fundamental requirement is that the insurance policy itself must be active. If the policy had lapsed or was canceled, there would be no coverage to pay out benefits, regardless of other circumstances. Thus, maintaining the policy's active status is the first step in ensuring that benefits can be accessed.