Insured's death, it is tragic when a loved one dies and the life insurance policy death benefit should be claimed. However, insurance companies are in the business of providing money just such an occasion. When an insured person named on the life insurance policy dies, the policy is coming to an end on the date of his death.
To simplify the claims process, you need to know the following:
1. Death Certificates & Forms Claim. You need to bring a copy of the death certificate to the branch office, or send it to the central office along with a claim form (which can be obtained from your insurance agent or insurance company home office). Claim form and death certificate would allow insurance companies to process claims.
2. Submitting Documents to the Company. Documents of life insurance submitted to the insurance company must be accurate and all forms should be filled completely. The main reason of death benefit claims will be rejected if the recipient is not properly filling out the form correctly.
3. Collecting Death Benefits. Once all forms have been filled, the death benefit can be collected. Insurance companies usually send a check to the recipient or beneficiary. It is then the responsibility of beneficiaries to cash checks and managing money. Sometimes, insurance companies will provide periodic payments to beneficiaries and to manage money on behalf of the recipient.