What To Do With Life Insurance Payout? 
Some things to do with a life insurance payout : 1 -RRB- Pay for the funeral . 2 -RRB- Settle the estate of the deceased . 3 -RRB- Buy life insurance for yourself . 4 -RRB- Pay off debts . 5 -RRB- Pay off your mortgage -LRB- unless the interest rate is so low that it makes more sense to keep it -RRB- 6 -RRB- Take the remainder of the life insurance proceeds in regular payments so that you have regular income and earn interest on the remaining lump sum . 7 -RRB- Purchase an annuity with the remaining death benefit . 8 -RRB- Invest the money in whatever you desire . 9 -RRB- Hire services , visit family , or `` pamper '' yourselves in other ways to help you get through the shock of your loss . 10 -RRB- Give some of the money to charity or family in memory of your loved one . 