How to Claim a Life Insurance Policy

specified time period after which the company will pay the death benefits along with any interest accrued.You can ask the insurance company to issue payments in installments over a specific period of time. The amount paid will include both principal and interest.You may also choose a life income payment plan, similar to an annuity. This option guarantees income for life. The amount depends on factors such as the amount of death benefit, gender and age.Look for multiple insurance policies. It is very common for people to have more than one life insurance policy. If the policyholder was working, he may have a life policy given by his employer. He or she also may have additional coverage under an employee group life insurance plan. If the policyholder had an outstanding mortgage, you might find additional life coverage under mortgage insurance. Mortgage life insurance will pay off the balance amount left on your mortgage.As a beneficiary, you should check other insurance policy that may apply. Such as car insurance if the policyholder died in a car accident; travel insurance if he/she died during travel.What to do when you can’t find a insurance policy? If you know the life insurance company, you can talk to them directly explaining the situation. The company will search their database and if it comes up with a match, and the policy is still in good standing, they will process the claims papers.What to do when you suspect there is a insurance policy but cannot