The Immediate Benefit Account (IBA) is a retained asset account that offers a convenient way to access your money, earn interest and take your time to make investment decisions. An IBA is an interest-bearing draft account (similar to a checking account) for your benefit. With an IBA you can receive a personal checkbook and write checks to third parties, including individuals, stores, creditors, banks, brokerage firms and other financial institutions. You can also write a check to withdraw your entire balance and close your account at any time. If your Life Insurance benefit amount is $10,000 or more and if you reside in a state where they are allowed, you may elect to receive your benefit through an IBA. To determine if an IBA is available for your claim or to get additional information, please call 1-800-424-1592.