Claiming a life insurance policy
What insurers ask for, how long claims take, and what to do if you cannot find a policy.
5 min read
Life insurance proceeds usually pay quickly once the insurer has a complete claim. Most companies pay within thirty days of receiving a certified death certificate and a completed claim form (National Association of Insurance Commissioners [NAIC], 2023).
How to file
Call the insurer, request the claim packet, and submit it with a certified death certificate. The named beneficiary on the policy receives the proceeds. If the named beneficiary has died, payment usually goes to the contingent beneficiary or to the estate.
Finding a missing policy
Check tax returns for premium deductions, look for past statements in mail and email, and ask the deceased person’s employer about group life coverage. The NAIC offers a free Life Insurance Policy Locator Service that searches participating insurers (NAIC, 2023).
Tax treatment
Life insurance proceeds paid to a beneficiary are generally not subject to federal income tax. Interest paid on the proceeds, however, is taxable (Internal Revenue Service [IRS], 2024).
Get a step-by-step claim plan
NextStep walks you through gathering documents and filing each claim in order.