The recipient must first file a claim with the life insurance provider. Depending on the policies of the insurance company, this may be accomplished online or on paper. Regardless of the filing method, the insurance company will often require documentation and supporting evidence to process the claim and issue the payment.
Along with the claims form, your beneficiaries may be required to present a copy of the policy. In addition, they must submit a certified copy of the death certificate through the county or municipality, or the insured's hospital or nursing home.
When Benefits Are Paid?
Typically, life insurance payouts are paid upon the insured's demise. Beneficiaries produce a certified copy of the death certificate when making a death claim to the insurance company. Many jurisdictions give insurers 30 days to consider a claim, after which they can pay, deny, or request more information. If the insurance company declines your claim, it will typically provide an explanation. The majority of insurance companies pay within 30 to 60 days after the claim date.
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