Process for a Business to File a Life Insurance Claim

What is the Process for a Business to File a Life Insurance Claim?

  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
  1. 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
  1. Fill out the paperwork and send it in
    • You can find the required paperwork form on the insurance company website or through contacting the agency
    • You may be required to mail in the paperwork and copy of the death certificate
  1. Specify how you want to be paid
    • There are a few options to receive payment:
      1. Lump-sum: you receive the money all at once
      2. 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
      3. Life income option: you receive a guaranteed income for life
      4. 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 of payment with the insurance company
  1. 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:

  1. The person stopped paying the premium
  2. the person lied on the application
  3. the cause of death fell outside the scope of the insurance coverage.

What to do if your life insurance claim got denied

  1. Contact your life insurance company or agency for specific reasons of the denial and address the issues if they’re incorrect
  2. Contact your state’s department of insurance to get the process moving quickly
  3. Contact a lawyer if you have a valid claim and the insurance company still refuses to pay


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