Do Life Insurance Companies Contact Beneficiaries at Life

Do Life Insurance Companies Contact Beneficiaries. Be prepared to prove that you are the beneficiary listed (usually with id such as your driver’s license number or ssn) and have the death certificate available to prove that the insured person is deceased. In fact, the company is probably not even aware of.

Preferably you’ll want to contact the insurer shortly after the insured has passed away. One of the few scenarios where a life insurance payout affects a beneficiary’s taxes is if they receive the benefit in installment payments instead of a single lump sum. Also, the company may not be looking for beneficiaries because they haven’t been provided with a death certificate and dont know the insured has died.

Is Term Life Insurance for You? Kinecta Financial

First, it is the responsibility of the beneficiaries to apply to the insurance company for payment. Do life insurance companies contact beneficiaries? If you are (or suspect you are) the beneficiary of a life insurance policy, then you’ll have to get in touch with the insurance company. Although some companies try to find out if any of their policy holders have died (and some states require them to try), there is no automatic process that alerts the company of a policy holder's death.