Now that you know that you are the beneficiary of a life insurance claim, the next thing to do is to file a life insurance claim. On the contrary, this process is not difficult at all. So don’t be scared to claim what you deserve. By following the steps below, you are on the right track to getting your payouts
Step 1: Contact the insurance company
You can decide to send the insurance company an email. But we recommend that you should call or visit the insurance company to know more about the insurance procedures
Step 2: Complete the claim form
Make sure that you fill out all the fields in the form to avoid any delay. And if you don’t understand any field, ask your insurance agent or contact the insurance company for further clarification. While filling the form, you can decide to receive the entire death benefit in a lump sum or based on a predetermined schedule.
Step 3: Submit all the required copies of documents
In most cases, the company will ask you to submit the claimant statement, death certificate, newspaper account, and policy. To get the death certificate, you can visit the funeral director. You can also get the newspaper account from any reputable news outlet in the country.
Step 4: Wait for the payouts
If everything is done properly, the insurance provider will offer you the death benefit based on the payment formula you filled out in the claim form.
Note: You can decide to skip all the above steps by allowing your insurance agent to complete all the procedures for you. But this comes at additional costs. So, we advise you to do all the legwork or paperwork yourself to save costs.