When you pass away, arranging funeral payments becomes an urgent matter. Funerals typically take place anywhere between two days and two weeks, so your beneficiaries will need to get the death benefit as soon as possible. Funeral costs often require an upfront payment. But here we’ll look into what goes into receiving the death benefit.
Do This First!
Before anything can happen, you have to submit a claim. Failing to do so will only delay your death benefit disbursement.
To claim, you need:
- The claim form
- Proof of identity
- At least one copy of the death certificate
- Policy copy
- Other materials confirming your loved one’s death, such as an obituary. This is optional, but it is helpful
It’s Usually 1-2 Weeks
Typically, the insurance company will release your funds shortly after receiving the claim. Most of the time there aren’t any issues and the process goes by smoothly.
The key is filing as soon as possible. In this era, filing a claim has never been faster, as it can be done online.
In the absolute worst case, the process can take 60 days.
The Cause of Death Matters
One of the reasons why the process can be delayed is if the death happens under suspicious circumstances. Affirming the cause of death happens in steps:
- First, beneficiaries file the claim with all the materials needed for submission
- The insurance company evaluates death certificate
- The death certificate includes information about how the death occurred
- If the cause is questionable or suspect, the insurance company will ask for other materials
- Other materials include reports from the medical examiner, autopsy, EMS, and/or medical records
The cause of death is a huge factor in terms of how quickly beneficiaries can receive the death benefit. Unfortunately, not everyone dies of natural causes. Some deaths require extensive investigations, and this significantly delays the process.
If someone else caused your loved one’s death, the beneficiaries will not only have a delay in receiving the death benefit – they will be subject to an investigation. Beneficiaries are the first suspects due to financial motives. If a policyholder causes his or her own death, most policies won’t release the death benefit because of an exclusion period that lasts two years after the policy is in effect. However, some policies may release funds even if the death is the result of fatal self-inflicted harm during this period.
Call FE Direct!
At Final Expense Direct, we have helped many in finding a suitable final expense policy with a satisfactory death benefit. To get your coverage started, call us today at 1-877-674-0236.