What happens if a person with life insurance goes missing and is found many years later?
What happens to life insurance funds if a missing person is presumed dead but is found later? For starters, someone who is missing, is not presumed to be dead until at least 7 years after they went missing. If the courts orders presumed death, the insurance company has to pay the beneficiary.
How long does a life insurance claim take?
30 to 60 days
Life insurance companies pay out the proceeds when the insured dies and the beneficiary of the policy files a life insurance claim. You should be able to collect the life insurance payout within 30 to 60 days after you have submitted the completed claim forms and the supporting documents.
How do I find out if I am a beneficiary of a life insurance policy?
Here’s how to find out if you are a beneficiary on someone’s life insurance policy.
- Start the beneficiary conversation early. …
- Search personal documents. …
- Contact the insurer to file a claim. …
- Find a lost policy online. …
- Still have questions?
How do you find a deceased person’s life insurance policy?
How to Find Out if a Life Insurance Policy Exists After Death
- – Talk to Friends, Family Members, and Acquaintances.
- – Search Personal Belongings.
- – Check Old Bills & Mail.
- – Contact Employers and Member Organizations.
- – Do an Online Search.
- – Call Your State Insurance Commissioner’s Office.