Probably the furthest thing from someone’s mind when a loved one dies is filing a life insurance claim. Many Canadians are unsure of what steps they should take when they find themselves in this very unfortunate situation. Being overwhelmed is a common feeling, but filing your claim is something that needs to be done, and to avoid further complications, the sooner the better. This article will help explain how to get through the process as quickly as possible, guaranteeing that the insurance can provide the relief it was intended to.
The first step is to locate the actual life insurance policy. This is the legal contract that outlines the conditions of what the insurer is required to pay. Call the insurance provider or your broker to inform them that you will be making a claim. The insurance company will then send you the necessary paperwork, which will summarize the information the company will need to process the claim.
The main pieces of information that you will need to supply are an original, or certified copy of the death certificate, and a way to prove you are the named beneficiary. Complete the paperwork that was sent to you and include the required information. Next, send all this information to the insurance company. We recommend sending this information through certified mail as it is important that you keep a record of when your claim was received to prevent any unforeseen problems when it is processed.
Once the insurance company processes it you will receive your benefits. Normally, insurance companies are quick to process these claims and you can expect to receive your benefit provided there are no complication. Among the most common reasons that a settlement is delayed is because the copy of death certificate is not valid, so it is important that you ensure to double check your insurance companies specific requirements.
Settling a life insurance claim can be a difficult experience for anyone. Having a relationship with your insurance broker can be especially important during this time as they can assist you with any questions and work to make sure your claim is processed as quickly as possible. LifeCover.ca works to connect you with independent insurance brokers across Canada.