How long should it take to get paid out on a life insurance claim?

Question

I filed a claim four months ago and they seem to keep putting it off. What is the estimated time

Answer 1

typically less than 2 weeks.  If a problem arose, it wont pay until a solution has been found.

If it's group, 6 mo to a year is common, if at all (from what I hear, yet to have experience with it).

Answer 2

Normally it's 2-3 weeks after the claim form and death certificate are received.

If it's significantly longer than that, there's a problem.  The problem COULD be that the insurance company is trying to figure out if they can void the policy for misrepresentation on the application.  Or, if the insured died by homicide, they need to clear the beneficiary before they can be paid.

Answer 3

It depends on the type of policy, how the person died, and if the policy was still in the contestability period.  Sorry - depending on your answers, it could take a while.

Answer 4

Call them back, fax them, get to supervisors somehow, anything.

Ask people's names all the time so you can hold them personally responsible.  Then they might actually process your claim.  I work with these people all day, and sometimes it takes a lot of probing.

If you don't they'll hold on to their money any way they can.

But the first guy who answered was right: the death benefit could come in monthly installments for a certain period of time.  There's a 1000 variable to consider.  Just pick up the phone, and pester them to death until you know ALL the facts.  

Answer 5

If the policy is over 2 years old, then it should only take a few weeks once you have submitted the claim form and requested proof of death.  

If the policy is less than 2 years old, then the insurance company has the right to investigate to make sure there was not any fraud involved.  This can take several months and depends largely on how quickly you and the company communicate.  It also depends on how long it takes the company to obtain the records from the various sources.