If the life insurance policy has been if force over two years, then on presentation of the claim form and proof of death the claim will be paid promptly.
If the policy is under two years, it is within the contestability period to ensure all is in order. The cause of death will be examined and it could take a little longer to receive the claim.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
Typically, a life insurance claim is paid within a few short weeks if everything is in order. The beneficiary needs to contact the insurance company for a death claim form which is a short one or two page form and have a certified copy of the death certificate. It should be worked as soon as it is received by the carrier and funds released.
The only hold ups would be a contestable death within first two years of the policy effective date if the death was an apparent suicide which is excluded for two years.
Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
How long it takes a life insurance claim to be settled depends on the insurance company. Generally once the insurance company is informed of the death of the insured it will initiate the claim and ask you to provide a copy of the death certificate. Once the death certificate is received by the insurance company it shouldn't take more than two weeks to issue the benefit check. But again, that depends on the insurance company.
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If the policy is under two years, it is within the contestability period to ensure all is in order. The cause of death will be examined and it could take a little longer to receive the claim.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
The only hold ups would be a contestable death within first two years of the policy effective date if the death was an apparent suicide which is excluded for two years.