If you’re a beneficiary of a life insurance policy, you might imagine a check will arrive in the mail after the insured person dies. However, many beneficiaries don’t make life insurance claims because they don’t know which company holds the policy, they may not even know a policy exists, and they fail to send the insurance company proper information with the death certificate.
Life insurance companies pay out more than $60 billion to Americans each year, but many policies go unclaimed.
Here’s the steps you, the beneficiary, should take when you make a life insurance claim:
Find out the the life insurance company who provides the policy
You don’t need the policy in hand to make a claim, or even the policy number. If you know the name of the company or the name of the agent who sold the policy, the policy number can be looked up for you.
Beneficiaries file a death claim with the insurance company by submitting a certified copy of the death certificate along with a letter to the insurance company
Typically a claim letter asks for basic details about you and the deceased person, and how you would like to be paid.
Many states allow insurers 30 days to review the claim, after which they can pay it out, deny it, or ask for additional information.
If the company denies your claim, they generally provide a reason why.
If you are the beneficiary, our sample letter is perfect to send to the life insurance company.
Again, you’ll need to supply the death certificate when you submit your claim.
Collect life insurance benefits quickly and easily with the step-by-step instructions included with Our Letter to Insurance Company After Death.