Simple Steps to Filing a Life Insurance Claim
When faced with the loss of a loved one, the last thing you want to worry about is handling extensive paperwork. Insurance companies understand what survivors are going through and try to keep the life insurance claims process as simple as possible. Knowing the process and what documents you need can help the claims process run smoothly and possibly expedite the receipt of policy benefits.
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Instructions
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Call the life insurance company to notify the carrier of the insured's death. The company will then provide you with the necessary paperwork and further instructions on how fill it out. The insurance company can also get you in touch with your insurance agent, if you do not have his information. Your agent can act as an intermediary and help you in the claims process. In the event the policy is a group life insurance plan administered by an employer, contact that company's human resources department for further instruction, rather than the insurance company underwriting the plan.
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Gather the necessary documents. The main document that all insurers require is an original or certified copy of the death certificate. Most companies require a photo identification of the beneficiary, and in the event the beneficiary is a minor, copies of that person's birth certificate and letter of guardianship. Other required documents may include the original insurance policy, marriage certificates, medical records and an autopsy report. In the case of accidental death, a police or accident report is generally required, along with toxicology reports and any supporting evidence such as newspaper articles mentioning the accident.
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Fill out all the necessary sections of the claim form. You may not know all the answers to the questions, but fill out the information to the best of your ability. This information includes information about the deceased, cause of death and beneficiary information. Depending on the company, you may have to answer additional questions regarding the deceased’s medical history, additional life insurance coverage and other information that the insurer deems relevant for allowing it to complete the claim.
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File your paperwork. Because original copies are required, you must mail your claim form and supporting documents to the insurance company. Faxing or emailing a copy of all the information to the insurance company before you mail the originals may expedite your claim. Check with the insurance company or agent first.
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Choose among the various payment options the insurance company offers. A lump-sum payment allows you access to the full amount of the death benefit, which can then be used to handle any immediate expenses, included those associated with the death. Other payment options include receiving the death payment paid out over a given period of time or in certain amounts on a regular basis. The policy proceeds would earn interest while on deposit with the insurer.
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Tips & Warnings
Use a tracking feature when you mail the claim form and documents.
Ask a loved one for help if you are unable to complete the claim form and gather the documents.
Providing an incomplete claim form will result in a delay in receiving the insurance benefit.
References
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