1. Contact the insurance agent or company
- You can either ask the agency directly or contact the insurance company
- They will provide details on how to file a life insurance claims
2. Get copies of the death certificate
- You can get certified copies of the death certificate from the funeral director
- Get at least 10 copies for turning off services and closing accounts
3. Fill out the paperwork and send it in
- You can find the required paperwork form on the insurance company’s website or by contacting the agency
- You may be required to mail in the paperwork and a copy of the death certificate
4. Specify how you want to be paid
- There are a few options to receive payment:
- Lump-sum: you receive the money all at once
- Specific income provision: receive the principle on a set schedule over a period of time, you will also receive interests on the amount, but will also have to pay tax on interests
- Life income option: you receive a guaranteed income for life
- Interest income option: you only receive the interests on the principal, and the life insurance policy remains active and goes to a secondary beneficiary upon your death
- Make sure you discuss your preference for payment with the insurance company
5. Wait for the money to be delivered
- This can take from one or two weeks up to 30 days, depending on the company
Why you got denied:
- The person stopped paying the premium
- The person lied on the application
- The cause of death fell outside the scope of the insurance coverage.
What to do if your life insurance claim got denied?
- Contact your life insurance company or agency for specific reasons for the denial and address the issues if they’re incorrect
- Need to contact your state’s department of insurance to get the process moving quickly
- Contact a lawyer if you have a valid claim and the insurance company still refuses to pay
Given the process described, filing a Life Insurance claim on behalf of the business could be as simple with the support of an advisor
Do you have any further questions?
Obtain assistance whenever necessary. Schedule a meeting with one of our advisors https://lions.financial/contact
To learn more, visit:
English 
简体中文 
Español de México 
Русский 
Français 
हिन्दी