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How to make a Life Insurance Claim

When considering buying life insurance we often think about providing for our loved ones. But what happens when you pass away? What can a beneficiary expect when filing a life insurance claim?

Once a person passes away, much of the time there is an immediate need for cash for varying reasons, one being funeral related costs. Because of this, insurers try to pay out the claim as quickly as possible. I have seen cheques reach to the office as early as the next day after the claim has been submitted; generally you should usually expect to receive the payment within a week.

Making the Life Insurance Claim

Once the beneficiary knows the process, getting that claim in and the payout is quite easy. They simply complete a proof of death form along with the death certificate.

  • Original or certified copy of the policyholder's death certificate
  • Beneficiary will need to provide a proof of identity

As the policy owner, what you can do to help right now is to provide information to your beneficiaries as to where they can locate your life insurance policies and if it is possible introduce them to the life insurance advisor you are working with. They will have direct contact with the advisor or agency where you acquired the policy and will be provided assistance. If for whatever reason they cannot contact the advisor or agency at the time of death, they can also contact the life insurance company directly.

Remember, the payment from a life insurance death benefit is tax free.

Life Insurance