What Information Is Needed for a Life Insurance Claim?

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If you're getting ready to file a life insurance claim, you're going to need a few key pieces of information at the ready. Find out what information is needed for a life insurance claim with help from a certified financial planner in this free video clip.

Part of the Video Series: Insurance Basics
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Video Transcript

Hi, my name is Karen Lee. I'm a certified financial planner and the owner of Karen Lee and Associates and a registered representative with LPL Financial. I'd like to answer the question of what information is needed to do a life insurance claim. So if someone close to you has died and you believe there is life insurance in force the first thing you should try to do is find a copy of the policy. With the policy number you can call the insurance company and get the claims process started. If you don't have a policy number, you can at least call the insurance company and if you can identify some personal information like the insured's date of birth as well as their social security number they can usually start the claims process for you. So the first step is identifying the policy number and the insurance company that you feel like you have life insurance with. The next thing you need to do is fill out their claims forms. Now some companies have gone to an online claims system. Here is an example of one company's screen that they would have you fill out to start the claims process. In lieu of that, most companies will simply send you a letter and along with that will be some information that you need to fill out. In addition you are going to need a certified copy of the death certificate, no insurance company is going to process a death claim without that. And some insurance companies go a step further and are looking for a legal document called an affidavit of domicile. Once you've turned in a completed claims form with your certified copy of your death certificate at that point it's time to wait and let the insurance company get back to you. If there is no reason for them to contest the claim, they will simply send you a check or in some cases if it's a large amount of money, they will open up an account with a checkbook and send you that checkbook. If there is any reason that the insurance company feels that they are not going to pay the claim, you would receive a letter with their reasoning and you'd have to start an appeals process at that point. Hopefully that explains for you the basic information you need to start a life insurance claim. My name is Karen Lee. I'm the owner of Karen Lee and Associates, certified financial planner and a registered representative with LPL Financial.

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