The Life Insurance Claim Process:
A Simple Guide for a Difficult Time
Losing a loved one is one of life's most challenging experiences. Our purpose with this guide is to lift the burden of the life insurance claim process, providing a clear and simple path forward so you can focus on what matters most. During a time of loss, the last thing you should have to worry about is a confusing or difficult claims process. We understand that this is a stressful time. Let's make sure you have the information you need to receive the benefits you are owed.
The First Steps: What to Do Right Away
The most crucial step is to locate the policy. Without it, you may not know which company to contact.
Locate the Policy Documents: Search for the original policy document or a recent statement. This will have the policy number and the insurance company's contact information. These documents are often kept with other important financial papers, in a safe, or in a file cabinet.
If You Can't Find the Policy: Don't panic. You can still find the information you need. Many states and organizations have resources to help. The NAIC Life Insurance Policy Locator Service is a valuable free tool that can help you find a policy that may have been purchased by the deceased.
Gathering Your Documents
To file a claim, you'll need to submit a few key pieces of information. Gathering these documents ahead of time can help prevent delays and ensure a smoother process.
A Certified Copy of the Death Certificate: The death certificate is the most important document. It officially confirms the death and is required by all insurance companies. You can usually get certified copies from the funeral home or the county's vital records office.
The Claim Form: The insurance company will provide this. You'll need to fill it out completely and accurately.
Beneficiary's Information: Be prepared to provide your full legal name, address, Social Security Number, and contact information.
Proof of Your Identity: You may be asked for a copy of your driver's license or another form of government-issued ID to confirm your identity.
Submitting the Claim and What Happens Next
Once you have everything in order, the next step is to contact the insurance company to begin the claim process.
Contact the Insurance Company: Call the number on the policy documents or contact your life insurance broker. They will guide you through the process of submitting the claim form and your documents.
The Review Process: After you submit your claim, the insurance company will review all the information. This is a standard procedure to verify the policy is in force and that the claim is valid. This process typically takes between 30 and 60 days, but it can be faster or slower depending on the circumstances.
Receiving the Payout: Once the claim is approved, you will be given options on how to receive the payout. You can typically choose a lump-sum payment or have the funds placed in an interest-earning account, which allows you to take the funds as you need them.
The Life Insurance Claim Process Frequently Asked Questions
Q: How long does it take to get the money?
A: Most life insurance companies will process a claim within 30 to 60 days of receiving all the required documentation. However, if the death occurs within the first two years of the policy (the contestability period), the process may take longer as the company will conduct a more thorough review.
Q: What if I don't have a death certificate yet?
A: You can start the claim process by notifying the insurance company of the death. They will likely be able to send you the necessary forms. You can then submit the death certificate as soon as it becomes available.
Q: What if the beneficiary is a minor?
A: If the beneficiary is a minor, the insurance proceeds cannot be paid directly to them. The funds will typically be held in a trust or with a court-appointed guardian until the minor reaches the age of majority.
Q: What happens if the claim is denied?
A: While it is not common, a claim can be denied. The most frequent reasons are that the policy lapsed due to unpaid premiums or if the death occurred within the contestability period and was found to be the result of a misrepresentation on the application. If your claim is denied, the insurance company must provide a clear written explanation.
Our Pledge to You
Navigating the difficult time of a loved one's death is one of life's greatest challenges. Our role through the life insurance claim process is to be a supportive guide and a resource you can trust. If you need assistance with any part of this process or have questions, please don't hesitate to reach out. We are here to help.
- Home
- What is a Life Policy
- What is a Life Insurance Exclusion
- Life Insurance Claim Process
Customized Life and Health Insurance Solutions to Meet Your Unique Needs. Located in Salt lake City, Utah