The insured must consider the following:
1) the original intent of insurance policy and the purpose for purchasing the policy originally. For example, the policy was purchased to protect the beneficiary from financial loss when the insured dies.
What happens in the absence of a policy?
2) who will be responsible for the decease’s debts without any proceeds from a life insurance policy?
3) If the insured recovers more quickly, what will happen?
4) If the insured dies more quickly, would it be better to refuse the settlement or to receive full payment?