How is a claim made under a life insurance policy?

All claims are made to the Insurance Company who issued your policy. You will find details of how to claim within the booklets they provide with your policy.

However, if you, or your dependents, are unsure on how to proceed, then contact the agent or broker through whom you purchased the policy. You will normally find details of the broker within the insurance documentation. They will be able to assist.

If a life insurance policyholder does die, the insurance company is ready to make a speedy payout - but there are a few procedures to follow in order to make sure this happens. The first step is to find the insurance policy and for safety’s sake make a note of the policy number. Then contact the insurance company. They will send you a claim form. Whilst this claim form is en-route you need to obtain a certified copy of the death certificate. Your funeral director will help you with this.

When the claim form arrives, complete the details and return it to the life insurance company together with the insurance policy document. We think it would be best to use Recorded Delivery.

The insurance company will then pay the claim promptly.

What happens if the insurance policy cannot be found?

Don’t worry. It’s not uncommon to lose a policy! You will be able to trace the insurance company through the premium payments made through the deceased’s bank. Then phone the insurance company and they’ll sort it out for you.

Incidentally, here’s some advice. A Life Insurance policy written “in Trust” will ensure that, in the event of a claim, the money goes directly and quickly to the people you intended. It also avoids all Inheritance Tax. That could represent a 40% saving in tax. It is easy to have a policy “written in trust” and the help desks of most good insurance companies and brokers will make the arrangements for you.

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