Collecting Death Benefits
In order to process a death claim, most companies require a properly completed claim form, a certified copy of the insured’s death certificate and the policy contract. If the policy has been lost, the company will typically require the beneficiary to complete a lost policy certification.
If the insured dies during the contestable period or from accidental or unusual means, the company may require additional documentation such as police reports, autopsy reports or medical records. Once the company receives satisfactory proof of loss, it has 30 days to pay the claim before interest will start to accrue.
Once a claim is approved, the beneficiary may have a choice of how to receive the benefits. The more common settlement options are:
Files
consumer-guide-to-life-insurance.pdf
consumer guide to life insurance
Share this page: