Claim

A life insurance claim is a formal request submitted by a beneficiary to the insurance carrier seeking payment of the death benefit following the insured's death. The claims process typically requires submission of the policy, a completed claim form, and a certified copy of the death certificate. Carriers generally have 30 days after receiving all required documentation to pay or deny a claim, and many pay within days of receiving complete paperwork. Claims may be investigated if the death occurs during the contestability period, involves exclusions such as suicide within the first two years, or if there is evidence of material misrepresentation on the application.