Insurance Agent, N. Holobaugh Insurance, United States
In Ohio, upon receipt of a written proof of loss, the insurer must pay death claims immediately (most states interpret this to be within 30 days.) Check your state law to verify.
If there is no beneficiary named in the policy, the death proceeds are paid to the estate of the insured. An insurer cannot delay the payment of a death claim until the settlement of the estate of the insured has been completed.
Life insurance proceeds take from a couple weeks to a couple months to get, on average. The Departments of Insurance in the 50 United States regulate and observe the amount of time it takes for payments to be made. However, claims go faster if the paperwork is all in order, you have a certified death certificate sent with the claim forms, and all the information is correct.
.JPG){kind=avatar}
If there is no beneficiary named in the policy, the death proceeds are paid to the estate of the insured. An insurer cannot delay the payment of a death claim until the settlement of the estate of the insured has been completed.