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.
I
Insurance companies will say that it can take from one to two months for a life insurance policy to pay the death benefit after they receive the claim form and certified death certificate. I asked someone today who had just collected on several small policies, and she said the shortest was about a month.
.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.
I