When a loved one passes away, there are a lot of things that those who were close with them have to take care of. What some individuals might not realize is that even dealing with a life insurance policy isn’t always easy. Still, it’s necessary so that funeral costs and other expenses can be taken care of.
There are a few things you may need to know if this is your first time having to deal with life insurance. Understanding these tips might make everything a bit less stressful, which is important because you’re under an emotional strain already because of the death of your loved one.
A death certificate is required
One of the most critical issues that relates to handling a deceased loved one’s life insurance policy is that you must have a certified copy of the death certificate to turn in before you can receive benefits as a beneficiary. Insurance companies may also require other documentation, so you must read through everything noted in the paperwork.
The process isn’t instantaneous
Insurance companies won’t make a decision about a claim at once. Instead, they have 30 days to determine if the claim is valid and payable. If it’s denied, they must issue a written notification that’s sent to the beneficiary’s last known address.
You can appeal a denial
Insurance companies aren’t infallible, so it’s sometimes necessary to appeal the decisions that they make. It’s critical to review all documents from the denial so you know whether there’s a valid reason for you to appeal.
Going through the life insurance claim process isn’t very easy, so having someone on your side who can help you to work through it might be beneficial. This may give you the opportunity to grieve and heal while a skilled attorney handles the claim.