Funeral Arts National Board Practice Exam

What is the name of the form signed by a beneficiary bringing a life insurance policy for funeral payment?

1. Authorization form

2. Will and testament

3. Assignment

4. Payable on death form

The correct answer is: Assignment

The form signed by a beneficiary to access the life insurance policy for funeral payment is known as the Assignment. This form is crucial as it legally transfers the rights to the death benefit of the life insurance policy from the insured to another party—in this case, usually a funeral service provider. By signing the Assignment, the beneficiary allows the funeral home to receive payment directly from the insurance company, which can streamline the process of settling funeral expenses. The importance of this form lies in its ability to ensure that funds are allocated specifically for the funeral services without necessitating out-of-pocket expenses for the beneficiaries. It provides a clear mechanism for handling claims on the insurance policy. The other forms mentioned have different purposes. An authorization form generally pertains to permissions related to medical or financial information. A will and testament outlines the distribution of an individual's estate upon their death but does not directly facilitate accessing life insurance funds. The payable on death form designates a beneficiary for bank accounts or other financial accounts, rather than specifically addressing funeral expenses. Therefore, the Assignment form is the correct choice for facilitating payment of funeral costs through a life insurance policy.