How You Can Claim From a Life Insurance Plan

Death is inevitable and when you lose a relative, the last thing that you would probably be thinking is how you can file your claim as the designated beneficiary in her life insurance policy. However, you should also be practical and the sooner you can accomplish this task, the better it would be! In these difficult times, people have to take note of the taxes that they have to pay when claiming. It would also help if you can study the procedures that should be followed in claiming because this it surely make things easier.



First, you have to get in touch with the insurance company for you to know the right type of documents that are needed for your claim. On the other hand, if the life insurance policy was procured because of a company package plan, it will be best if you first contact the owner of the company where the deceased was previously employed. The employer can help you process the documents and give you a lot of information regarding the benefits that you can obtain out of the policy.

However, if you do not have an idea regarding the insurance coverage that the deceased had, you should first look into her financial records like credit cards, bank statements or other documents that will show the payments that the deceased have made during her lifetime. There is a great chance that you will find the name of the insurance company through these financial statements. After you find out the name of the insurer, the next thing that you should do is to call the insurance company so as to locate a copy of the life insurance plan of the deceased.

After all these things have failed, your only recourse is to contact the state insurance department. This agency is in-charge of all the records regarding any type of insurance plans. Make sure that you prepare an original copy of the death certificate of the insured before you proceed to the SID. In the event that you cannot obtain an original copy, you can simply show a certified true copy of the death certificate.

For those individuals who are still named as the beneficiary despite the fact that they were already separated from the insurance holder, it is required that an authentic or certified copy of the certificate of marriage be presented to the state insurance department. If you possess all these documentary evidences, then you can easily file your claim with the insurance company. Just get a “proof of death” form from the insurer and fill out the required fields.

Complete all the requirements and submit the forms to the insurance company for proper evaluation. Do not forget to attach the death certificate of the insured. However, if you do not have the time to go through all these rigorous processed, the best thing to do is for you to engage the services of an agent. An adult beneficiary is also required by the Internal Revenue Service to submit their income-declaring requirements.