Co-Founder, Coastal Financial Partners Group, California
Life insurance is designed to pay claims very quickly. It can take a little as a few days to a few weeks from the time the insurance company receives the death certificate and completed forms from the authorized party.
In the event of death in the first two policy years, the insurer will need more time to investigate the claim as death occurred within the two year contestability period of the policy. Even then you are likely still looking at a few weeks but it can take longer.
State laws determine maximum time and they vary so check with your state's department of insurance.
The time that it takes to get your life insurance benefit will partly depend on how long it takes you to get the certified death certificate. Once that is received, you send it in along with a completed death claim form, and from then on it can take a couple weeks to a couple months.
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In the event of death in the first two policy years, the insurer will need more time to investigate the claim as death occurred within the two year contestability period of the policy. Even then you are likely still looking at a few weeks but it can take longer.
State laws determine maximum time and they vary so check with your state's department of insurance.