To find out if you are a beneficiary on a life insurance policy, you will have to meet certain requirements. If the insured is still living, you will not be able to receive this information, unless the insured authorizes the insurance company to release this information to you. This should be done by submitting written correspondence instructing them to do so. Once the insured has passed away, you will have to confirm some information with the insurance company.
Step 1
Find out which insurance company has you as a beneficiary. When someone passes away sometimes all of the needed information is not readily available. You may have to search through paperwork, safe deposit boxes, and other documents to determine which insurance company is insuring the insured. If there is more than one insurance company, you will need to communicate with everyone until you get the information you need. There is a chance that you could be a beneficiary on one policy and not another.
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Step 2
Call the claim department for the insurance company. Let the representative know that you think you are the beneficiary on the insurance policy. They will need the name of the insured, (deceased), policy number and your name. They may want to verify more information. If you are the beneficiary, they will be able to release this information to you. If there is more than one beneficiary, the insurance company cannot release this information to each of the beneficiaries. They cannot tell one beneficiary who the other beneficiary is unless there has been some written correspondence submitted by the insured prior to their demise.
Step 3
Find out how long it will take to process the claim. The time frame for processing a claim can vary from claim to claim. Sometimes things have to be investigated, or more information is needed. Different situations can occur. Every so often a dispute is issued by a family member. This can delay the process. Verify that the claims department has your correct address. If the policy is very old, you may have changed addresses since the policy was issued.
Step 4
Wait for the check to be issued. You will receive a check in the mail once the claim has been processed. All beneficiaries will receive the amount they are designated to receive according to the insurance policy. Deposit the check in your bank and wait for it to clear in approximately seven days. The time frame can vary from bank to bank.
Tip
To file a claim as beneficiary, you will need a certified copy of the death certificate. Sometimes there is a contingent beneficiary. This is the person who will receive the proceeds of a life insurance policy if the primary beneficiary has passed away.
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