What happens if FWD is not immediately notified of the person insured’s death, and continues to pay out the cash benefits the policy owner? Faith, your friendly assistant May 04, 2023 16:00 Updated The cash benefits that have been paid out to the policy owner will be deducted from the death benefits. Related articles What happens on the death of the policy owner? Optional Benefits / Independent Add-on How much refund will I get if I cancel my policy? To whom will the Death Benefit be paid? When can I surrender my policy? What will I receive?