If your spouse, parent or even an adult child has recently passed away, you may be looking to file a life insurance claim with their life insurance company to recover money to pay for their final expenses. However, if you have never filed a claim before, you may have questions about the entire process. Here are a few of the questions that you may have and the answers.
How Can You Find Out If Your Loved One Had a Life Insurance Policy?
Unfortunately, there is not a database that you can use to find out if your loved one had a life insurance policy and through who. If you cannot find paperwork that states who their policy is through, you will have to dig through their personal papers to try to figure it out. If they have auto and/or home insurance, they may have life insurance through the same company. You can call them and ask. Many people also have life insurance through their employer. Their employer can tell you if they did. Lastly, look through their bank statements or check copies to see if they were paying insurance premiums for a policy. Seeing what company they are writing checks to can help you determine who their policy is through.
What Information Do You Need to Submit With the Life Insurance Claim?
In order to submit a life insurance claim, you will need a certified copy of the death certificate. In addition to this, the insurance company will have you fill out a claim form. This claim form can typically be printed from your computer. The claim form includes standard information, such as you name and address, the deceased name and address, their date of death and how you want the claim to be paid out.
How Long Does the Insurance Company Have to Pay the Claim?
In most states, a life insurance company has 30 days to either pay or deny a life insurance claim. If the claim is denied, the insurance company will have to tell you why it is denied and how you can remedy the situation. Once the new information is submitted, the 30 days starts all over again. As such, it is important to ensure the forms are filled out correctly the first time and you submit all of the required information.
If your loved one has passed away, you may be looking to file a claim with the life insurance company to help pay for the funeral or tie up any loose financial ends they may have had. Getting answers to the questions you have will help you know what to expect when filing a life insurance claim.
Share8 October 2017
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