How Long Do You Have To Claim Life Insurance?
No one likes to think about losing a loved one, especially when it involves you handling bureaucratic tasks at such a difficult time.
What do you do in a situation when someone passes away, and you are the beneficiary? You’ll need time to grieve but also deal with paperwork. We’ll tell you if there is a time limit for claiming life insurance money and how to file a claim with DoNotPay!
How Long Does a Beneficiary Have To Claim a Life Insurance Policy?
What if months or years pass without you knowing about the insurance policy you have the right to claim? Will you still be able to get the money after the insurance holder passed away?
Yes, you won’t lose the right to claim the life insurance policy no matter how much time passes. The only important part is that the insurance policy was in effect when the owner died.
How Can You Check if You Are the Beneficiary?
Various factors can keep a beneficiary from claiming a life insurance policy. Sometimes, people don’t know that they are listed as a beneficiary in the first place. This is the most common problem that can lead to insurance money becoming unclaimed.
You can avoid any unnecessary confusion by visiting the National Association of Insurance Commissioners’ Life Insurance Policy Locator Service that allows you to search for matching policies.
Here’s a short list of entities that have the right to be a life insurance beneficiary:
- A spouse
- A child (who is an adult)
- A trust
- A sibling
- Business partner
- Charitable organization
How Do You File a Life Insurance Policy Claim?
Even though you can claim a life insurance policy anytime, the sooner you do so, the sooner you’ll get the money that is rightfully yours. This is how the process of filing a claim normally works:
- Collect the necessary documents
- Contact the insurance company
- Stand by until the claim is processed
- Get the death benefit
What Documents Do You Need To File a Life Insurance Claim?
To file a life insurance policy claim, you’ll have to collect the required documentation to prove that you are the rightful beneficiary. This is what you’ll need:
- Death certificate
- Policy document
- Claim form
Sometimes companies might ask for the deceased person’s Social Security number as well. You’ll have to discuss the specifics with the insurance company you are dealing with.
How Is a Life Insurance Policy Paid Out?
Insurance companies offer different ways of paying out life insurance policies. The two most popular ones are:
|Type of Payout||Short Description|
|The beneficiary gets the entire death benefit at once|
|The beneficiary gets paid annually for a certain number of years in accordance with the policy (between five and 40 years )|
You will have to check with the insurance company of the deceased person’s choice what type of payment is available and how you’re going to get the money.
DoNotPay Can Help You File Insurance Claims in No Time
DoNotPay will be by your side if you are dealing with one of the dullest tasks known as filing insurance claims. Insurance companies often have the best ads and commercials where they explain in detail how important it is for them to protect you.
When the time comes to collect your claim, they try to do everything in their power to prolong the process. If you turn to DoNotPay for help, you’ll only need to follow these easy instructions:
- Open DoNotPay in a web browser
- Find and select the insurance type you want to claim
- Type in your contact details and policy number
- Tell us why you are filing a claim
- Explain the details of the accident
DoNotPay will submit the claim for you right away. The company might contact you for some further questions.
DoNotPay can help you claim:
- Vehicle insurance
- Home insurance
- Medical insurance
DoNotPay Deals With Rejected Insurance Claims With Ease
It is not rare for insurance companies to refuse claims when people submit them the first time. While these institutions have no problem finding reasons not to give someone money, that doesn’t mean you should stand by and accept the company’s decision without a fight.
Submit your appeal letter with DoNotPay in a few easy steps:
- Open DoNotPay in your web browser
- Find the insurance type
- Select the Appeal Denied Insurance Claim feature
- Finalize the process
The company needs to explain the reason behind refusing your claim, and you deserve to get your answers. If you use our feature, they’ll see you mean business and won’t give up easily.
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Don’t let them get away with it—use DoNotPay to sign up for free trials and cancel subscriptions right before they renew. If you want to save even more money, use our platform to learn how to handle high bills, parking tickets, college application fees, canceled or delayed flights, or faulty services you should get refunded for.
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