I bought accident life insurance but how do I claim it if I'm dead?

Question

I told my aunt (my beneficiary) that I have life insurance and I gave her the documents but the problem is that she is known to lose documents and I know that she probably threw it out already.

What if something happened to me, would the insurance company find out and be able to contact her or do I have to get a new and more responsible beneficiary???

Thanks

Answer 1

What you should do is get the life insurance policy back from your aunt and put it in a safe, accessible place. Somewhere where family members can go find it in case something does happens to you. The insurance company is not going to know when you die. The only way they can know if a family member contacts the company reporting that you are dead.

Anyway, I strongly advise that you cancel your accidental life insurance. This type of life insurance only pays when you die by bodily injury. Its very blurry on what an insurance company considers an accidental death and majority of the times, none of these life insurance policies ever pays out. I suggest buying just regular life insurance that pays out no matter how you die. But before you do, you might want to educate yourself about the different life insurance products out there: http://finance1o1.blogspot.com

Answer 2

Well, if you have copies of the documents, if you pass away, someone will probably find them. You should print 'important documents'  so they don't get thrown away.  Let her know you have them so that she can be on the lookout for them.

Answer 3

Find a safe, accessible place(not a bank lock box) to keep ALL important documents. Let the excecutor of your estate know where this place is. Also, If you don't have a will, go to an attorney and have him/her draw one up for you. If you don't think your aunt can remember where this place is, let your attorney know and they can put it in the will....that way it won't get lost.

Answer 4

See my answer to your previous question.

If you have your aunt as a beneficiary, but she might lose the policy, or is absentminded, then perhaps she is not the best person to trust with the custody of the document. Choose someone else you trust. Contact your aunt and say that you want to get the policy back and put it in a safe-deposit box at the bank for safekeeping. Then, either do that, or give it to someone else who can keep it for you.

Answer 5

?????

Claim it if your dead?

I believe if you call reception in Heaven and ask for Terry he deals with that.

In h**l, I think Lucifer does.

Answer 6

Insurance company only pays when you make a claim (with few exceptions)

Loss of document is not important,  copy may be obtained (provided you complete all the legal requirements)

Hope I have answered your question?

Answer 7

YOU don't claim it.  

The whole idea behind life insurance is that if an insured person dies, his wife and/or kids (or other beneficiaries) won't be left out in the cold.  They'll get a lump sum that should ideally cover their mortgage, college tuition, etc.

If your chosen beneficiary loses the documents, then the insurance company should furnish you with another copy of it -- after all, they have their own copies on file.  Then you should put a copy in your own personal safe paper file.

Answer 8

the insurance company keeps a record of your document and it states who the benficiary is.

You can also keep a hand written letter as long as it as certified/notarized stating you leave your money to your aunt.

But the insurance companies do have records..