5 Ways to Claim Life Insurance After a Death

A life insurance policy is paid off by an insurer to the beneficiaries after the sudden death of a policyholder. The insurer can pay the proceeds from the policy in lump sums or installments. The benefits are paid off after the verification of the documents presented. The insurer reviews the policy and authenticates the beneficiaries’ documents and proof of death availed before any payout is made. There are many ways to claim payments for a life insurance policy. You can use any of the options listed below to make a claim and receive benefits:

1)    Through An Insurance Lawyer

Beneficiaries can approach a lawyer to claim a life insurance policy on their behalf. A life insurance lawyer will help in analyzing and interpreting the policy for better understanding. He or she will also help predict an outcome on the claim.

The lawyers may also help investigate a claim to remove any doubt and clear allegations made by the insurer. Once an insurer delays payment for a claim or cancels, the lawyer can pursue the claim too. In case of an unclear claim, a lawyer can negotiate the payout terms for you to ensure that you get to benefit from the policy.

2)    Direct Claim

Knowledgeable dependents can make the policy claim directly to the company. This process is shorter and easier too. The dependents have to provide proof of death by presenting a certificate and the original policy document. They should also provide documents proving that they are entitled to make a claim legally. Once the insurer verifies the information provided, they release the claim money.

3)    Through An Agent

Once a policyholder passes on, an assignee or a nominee can approach an agent to make a claim. The agent can be the one who insured the policy or one appointed to handle life insurance claims by an insurer. The agent helps the beneficiaries in the application and verification process. Since agents make direct contacts, it can be easier to verify a claim and offer assistance if need be. An agent also makes a follow up on the claim easing the burden for beneficiaries.

4)    Through An Assignee

Children who are below the legal age can have their guardians make claims on their behalf. The guardian can do this only with approval from the court. They can also present the custody documents as proof too before making any claim. To protect the interest of the children, payouts made are closely watched by administrators and court-appointed representatives to ensure it benefits them.

5)    Policy Finders

There are times when the deceased persons fail to share insurance policy information with their loved ones. These policies remain unclaimed for years if no beneficiary gets to learn about their existence. Once a loved one dies, you can search for the policies they had acquired through policy finders or in state insurance departments. In instances where it can be proven that the deceased had a policy, you can proceed and claim the policy. However, you would be required to provide legal documents proving you are the legal beneficiary and a death certificate. This process can be tedious and long but once done in the right manner it can bear the necessary results.