How Do I File a Life Insurance Claim?

To begin the claims process: 

• Get several copies of the death certificate, stating date, place and cause of death. You can obtain the death certificate from the funeral director.
• Call your insurance agent, who will help you fill out the necessary claim forms. They will also act as an intermediary with the insurance company. If you don’t have an insurance agent, or don’t know who the deceased's agent was, contact the company directly.
• Submit the documents and forms required by the insurer, which often include the following: 
   •  A certified copy of the death certificate. 
   •  A completed claim form.
   •  The insurance policy (if requested) or the policy number. Remember: do not keep life insurance policies in your safe deposit box. In most states, safe deposit boxes are sealed temporarily upon the death of the owner, which could delay settlement.

Once a life insurance claim is submitted, you must determine how the proceeds should be distributed. These options vary according to the policy and may include the following:

•  Lump sum: You receive the entire death benefit in a single amount.
•  Specific-income provision: The company pays you both principal and interest on a predetermined schedule.
•  Life-income option: You receive a guaranteed income for life. The amount of income depends on the death benefit, your gender and your age at the time of the insured's death.
•  Interest-income option: The company holds the proceeds and pays you interest on them. The death benefit remains intact and goes to a secondary beneficiary upon your death.