Filing a Life Insurance Claim

Posted in Life Insurance

January 7th, 2009

When a loved one passes away, your first thought is probably not about how to file a claim as a life insurance beneficiary. However, life insurance can provide almost immediate cash to meet pressing needs like funeral expenses, medical costs and estate fees. Therefore, it is important to file the claim as soon as possible.

First, you must find the policy. If you have the original insurance documents in hand, the claims process will go much more smoothly. If you cant find the policy documents, the next best thing would be to gather details such as the policy number and date of issuance for the policy, or paid premium receipts and acknowledgments, to present to the insurance company.

You will also be asked for a death certificate, and other supporting documents such as statements by the doctors who treated the policyholder before death, or a police report in case of an accident.

Next, call your insurance agent who can provide you with the necessary claim forms, help answer your questions and act as your intermediary with the insurance company. If you do not know who sold the policy to the deceased, you can contact the insurance company that wrote the policy. Call or write them directly, and simply ask what procedures should be followed.

If you cant find the policy, dont know who issued it, dont have a contact number for an agent, and basically dont have any information at all related to the policy, all is not lost. Contact the American Council of Life Insurance; they can refer you to a policy locator service which will forward your inquiry to hundreds of life insurance companies in an effort to track down the missing policy.

Millions of dollars in life insurance benefits go unclaimed each year, simply because the beneficiary did not know that there was a life insurance policy in effect. Be sure to communicate with your family and make sure they are aware of any life insurance coverage you may have, and tell them where to find the paperwork.