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Frequently Asked Questions about Life
Insurance Claims
Do I need to send in the original
policy?
Yes, often it speeds up the review process if the original policy is
submitted with the claim. If there were additional people insured with the
same policy, their coverage will continue or terminate as specified in the
policy contract. If the policy has been lost, please initial and explain
in the policy section of the Proof of Death Claimant Statement.
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Why do I need to send a copy of the inquest, police report, or autopsy?
Sometimes we need the information contained on these reports to review
your claim and verify the amount of proceeds payable to you, such as in
the case of an Accidental Death Benefit.
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What do I do if a minor is the beneficiary?
The age to which we may pay a minor varies according to state laws. You
may be asked to send us a copy of the court order naming the guardian of
the minor’s estate or property. This is different from the guardian of the
minor’s person which is named sometimes in divorce decrees.
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What if the beneficiary is deceased?
We will need a copy of the deceased
beneficiary’s death certificate and then the beneficiary becomes the next
person named in the policy contract to receive the policy proceeds. This
may be a contingent beneficiary, a relative or someone who paid the final
expenses of the insured, or the insured’s estate. If you have any
questions regarding the beneficiary of the policy, please contact our
office for information.
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What if the beneficiary is
an Estate?
We will need documentation for who is
responsible for administering the estate. The document may vary according
to whether there was a valid will, whether the will was probated, whether
the estate qualified under Small Estate Laws in the state, etc…
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What if the beneficiary is incompetent or otherwise unable to sign?
The authorized person may sign for them as Power of Attorney or Guardian.
We will need a copy of the document naming them as Power of Attorney or
Guardian submitted with the claim paperwork.
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What if the estate has been closed?
We request that the heirs all sign an Indemnification Agreement to protect
against any outstanding claims that may be filed by creditors of the
estate.
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What if the beneficiary is a Trust?
Please send us a copy of the Trust document and have the proper trustee(s)
sign the claim paperwork.
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Can the proceeds of the policy be assigned to the Funeral Home?
Yes, we accept most assignments provided by the funeral home if the form
is signed by the proper beneficiary and witnessed by a Certified Notary
Public. We do not, however, accept any responsibility for the validity of
the assignment. Any remaining policy proceeds after the funeral home is
paid will be sent to the beneficiary.
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What if the policy was used as collateral on a loan?
If there is a balance still due on the loan, we will need a statement from
an officer of the bank telling us the amount of the outstanding debt. If
the loan has been paid off, then we simply need for the officer of the
bank to send us a note to release us from the assignment. Please advise us
where we may send this form to obtain this release.
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Why do I need to provide a certified death certificate?
A certified death certificate is the best proof of death available to us.
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Why do I need to complete a Claimant's Statement?
The Claimant's Statement tells us who to pay and the address to send the
check.
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Why do I need to send a newspaper clipping or obituary?
A newspaper clipping is often used to identify survivors.
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