How Long Does An Employer Or Insurance Company Have To Notify Beneficiaries Of A Policy?
When some circumstances occur like a death of a family member, you should start processing all documents needed which are related to his death. If there is anything needed to claim any death benefits or insurance, it is the duty of the family or the beneficiary to do the follow-up. In the United States, most employed individuals are insured and it is required by law to have one. That means that if a loved one dies, he is assured of life insurance benefits and the next-of-kin or the beneficiary should immediately work towards getting the claims. For the employer, it could be a last good to inform the beneficiaries of the deceased employee regarding what they can claim. Employers should also provide supporting papers if there will be any necessary documents needed from their office. For the insurance company, it is their duty to provide the claims within a couple of days depending on the cause of death. If the person died because of suicide, it will take longer than usual as they have to make sure of the cause of death. So, how long does an employer or insurance company have to notify the beneficiaries of a policy when one of their employees dies? That depends on the employer or the insurance company when they can contact the beneficiary or when the beneficiary can start filing for claims.
To make the claims a lot easier, the following are steps for filing a life insurance benefit claim. Having such knowledge and awareness will make claiming less of a hassle and will also save time.
• Inform the insurance company that the policy holder has died. You would have to report to the insurance company as soon as possible to give you a list of documents needed to claim the life insurance benefit. If it was issued through his employer, you may notify the staff responsible for insurance claims.
• Start filing a claim form including the certified copy of the policy holder’s death certificate. You may also ask for assistance from your insurance agent to fill-up the form for you but make sure that you have properly signed the form. You may also fill out IRS Form W-9 to notify IRS about the interest paid to you on the value of the policy. If there will be another beneficiary named in the policy, he would also have to fill out the claim form.
• Wait for the insurance company to process all the documents needed. Proper investigation and assessment will be done on the papers submitted. Life insurance claims are quickly paid. There are only some major cases where an insurance company did not receive a valid certificate which may cause considerable delays. However, most problems encountered during filing of claims are minor.