Life Insurance Claims: What You Need to Know

There is a considerable amount of confusion regarding life insurance claims, and beneficiaries may be unaware of what steps they should take to file a claim. Life insurance can be important to the survivors of the deceased, and can help mitigate the financial loss of the insured individual's death. Learn what you need to know about making a life insurance claim.

How Do I Submit a Claim?

Most claims can be processed by the insurance company upon the receipt of a claimant's statement and a certified death certificate for the insured person. The claimant's statement should be completed by the beneficiary of the claim. It is also helpful to include the original insurance contract.

How Do I Know The Amount to Be Paid?

All contracts should have a page that lists the specifics of the policy, including the death benefit payable. Some policies have variable benefits, which may be determined by the length of time that the policy has been in effect before the policyholder passes away. The policy specification page can provide more information.

Other factors that can affect the amount payable can include:

  • Policy loans
  • Premium adjustments
  • Misstatement of age

Your life insurance lawyer can help you weigh all these factors and determine the amount you are owed by the insurance company.

How Do I Know Who Is the Beneficiary?

The named beneficiary will be listed on the original application or enrollment form, which should be attached to the policy statement or certificate. It also may be shown on the policy specification page. If the beneficiary is changed, the change should be noted with an endorsed copy of the change included with the policy documents.

How Do I Know If Coverage Is In Force?

Coverage is considered to be in force from the effective start date of the policy, provided that premium payments are kept current. The policy may have a non-forfeiture option outlined in the policy. If you are uncertain if a policy is in force, you may be able to contact the insurance company to request information about the policy's status.

How Can I Get Help With a Denied Life Insurance Claim?

Denied life insurance claims can be devastating for the beneficiaries of a policy, but you may be able to fight back. Our life insurance lawyer may be able to help you appeal a denied claim and fight for the life insurance benefits you deserve. The ERISA Law Center is dedicated to helping our clients protect their rights and obtain the benefits to which they are entitled.

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