You can submit a death certificate and claim form directly to the insurance company to start a life insurance claim.  Or you can use the free services of iReview Corporation to help smooth out the process and relieve yourself of some of the stress at which time may be a very emotional experience.  Our expertise is from our experience.  We help anyone.  We don’t charge you or make any money.  Your business is appreciated and our hope is through your satisfaction that you will come back to us for future needs and refer us to others for our services.

Filing a life insurance claim is a straightforward process that requires you to submit a few documents to us. You’ll also choose how you wish to receive the death benefit, but the process may take a few weeks to process the claim through the insurance company.  Most companies attempt to pay out sooner than later

Keep in mind, there are potential problems that can be encountered and cause frustration. Some of those problems may stem from:

• Incomplete forms
• Missing required extra forms (W-4P or W-4R)
• Not understanding the claims process
• Not promptly sending death certificate to the insurance company

Below are some easy steps to follow when filing a death claim.

Collect important documents

Having your documents prepared can help expedite the claims process.  There are basically three documents you’ll need to claim a policy’s death benefit.

The certified death certificate is a document that provides proof of death. Usually, you’ll need to request a copy from the funeral home or the medical professional who prepared the death certificate and confirmed the time and place of death. A copy should always be available from your local vital records office by phone, in person, or online.

The policy document should contain detailed information about the life insurance policy including the policy number, death benefit amount, and the names of the beneficiaries. If you’re having trouble finding the policy document, contact your local agent (like IReview Corp), the insurance company or the deceased’s financial representatives.

The claim form, also known as a “request for benefits”, is where you fill out information about the policyholder, including their policy number and the cause of death. You’ll also provide your relationship to the policyholder and how you’d like to receive the death benefit.

Other documents may be required.  Depending on the insurance company and if the policy is less than 2 years old in some cases, an authorization for release of health information pursuant to HIPAA may be required.

How to receive the death benefit

Depending on the life insurance company and the specific policy, there are a few different ways you can choose to get the death benefit. The two simplest and most popular options are a lump sum or an annuity.  Other options may be available and may vary by insurance company.

A lump sum pays out the entire death benefit at once. You won’t have to pay taxes on it.

An annuity is an account into which the death benefit is invested, then paid back in annual installments for a set number of years, beginning from a date in the future. You’ll owe taxes on investment gains.

Either way, you can spend the life insurance death benefit however you need to, depending on your financial obligations.