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Life insurance provides crucial financial protection for loved ones in the event of an individual’s passing. It can help surviving friends and family replace lost income, pay off debts that may otherwise become a burden, or transfer assets.
But to receive that support, beneficiaries must file a life insurance claim when the insured passes. This notifies the insurance company that it needs to pay a claim.
Whether you’re a policy owner curious how the process works or the beneficiary of a loved one’s policy, here’s what you need to know about life insurance claims.
To start the life insurance claim process, beneficiaries will need to get a certified copy of the death certificate. The funeral home handling the arrangements can help with this. Beneficiaries may also request one online with their state health department. Identifying information, such as the deceased person’s name, date and location of death, and sex, will be required.
It’s a good idea to ask for a few copies of the death certificate; beneficiaries may need to provide one to creditors and other account holders. It can also help with the process of cancelling any subscriptions the deceased had.
Next, the policyholder’s insurance agent (or the insurance company, if it’s not clear who the agent is) needs to be notified of the death and the need to file a claim. They’ll detail what documents are needed and how to submit forms to complete the claims process. Many insurance companies allow individuals to submit a claim online, which can be faster than mailing in paper forms.
If a beneficiary isn’t sure who to contact because they can’t find a policy or contract, they may be able to find that information in the deceased person’s bank records. Recurring payments to a life insurance company are a good sign they had a policy with that company.
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