Jun 08
Filing a Life Insurance Claim
It’s a blessing that it’s not often we have to file a life insurance claim. However, if you are faced with the task it’s important to know some basic steps to make sure you’re doing everything required in order to receive settlement funds.
First, get your paperwork in order. Be sure to obtain a copy of the death certificate of the person insured. Call your life insurance representative. They can be helpful in determining what other paperwork you may need and provide you with a checklist of things you should consider that can ease the burden during this difficult time. In addition, they can help educate you on what you’re entitled to.
When you file the life insurance claim, keep in mind that each beneficiary must fill out the proper forms. Again, your life insurance agent should be able to get the forms for you and help you with the process. Once you submit your claim, it shouldn’t take more than a week to process. The life insurance company will review your claim and make the payout.
Some life insurance policies allow you to select a payment option when you are eligible to receive proceeds. Others life insurance policies pay beneficiaries in the form of a lump sum.
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