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Life insurance pay-outs can change a family’s life. When a loved one and income earner passes, it is difficult to imagine how the family will cope. The pay-out from a life insurance policy will help them feel more secure, knowing that they can afford to pay the bills after the funeral, and more. How quickly can insurance claims be paid, and what life cover claim documents are required? We’ve got all the info you need to ensure a smooth claims experience.
Claiming basics
The beneficiary or beneficiaries claim on a life cover policy when the life assured passes away. To start a claim, the beneficiary should call the life insurance company, give them the policy number, name and ID number of the deceased, as well as their details, including name, ID number and contact details. Your insurance company will then take them through the next steps in the claims process, including what life insurance claim documentation is required.
Top tip: Make sure your beneficiary knows they are a beneficiary and how to claim!
Why proper documentation is crucial
Your insurance company wants to pay life insurance claims quickly, but they also need to make sure that the claim is paid for the right policy to the right person and that all the policy terms and conditions have been met. This means information will be checked and verified, and documents will be requested. Without the correct documentation, claims will be delayed.
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Essential documents for a life cover claim
Be guided by your insurer who will let you know exactly what is required, but you will need the following, at a minimum:
Death certificate
This document is issued by the Department of Home Affairs and your undertaker will usually obtain it for you. Make a few copies, have them certified, and send your insurer a copy as requested.
ID for the life assured and the beneficiary or beneficiaries
Your insurer will need a copy of the ID of the life assured, as well as any beneficiaries named on the policy.
Bank account confirmation
To ensure the funds are paid into the correct bank accounts, claims teams always ask for bank confirmation letters of any beneficiary. Your bank can help you with this, but you can usually download a bank confirmation letter online on your banking app or internet banking.
Life insurance claim form
Your insurer will send you this or advise where to find it online so that you can complete it and forward it. They may also help you complete the form over the phone. Always check your answers to make sure they are accurate, and ask for a copy of the form if you do not have one.
Medical and police reports
Your insurer may ask for medical reports to confirm cause of death, such as a postmortem report. If the cause of death is accidental such as a car accident, police reports will be required. Your insurer will tell you which, if any, reports they require. Your insurer may also request these reports themselves directly from doctors, hospitals and the police, but you can speed up this process by having the details of relevant people and reference numbers, such as attending medical professionals, investigating police officers and case reference numbers.
Top tip: Make sure any documents you scan or photograph can be clearly read! One of the common causes of life insurance claim delays is when a copy of an ID or death certificate has shadows or reflections on it and cannot be read. If you take photos, lay the document flat, place your phone overhead and ensure there are no shadows or blinding light, and that the document is clear!
Step-by-step guide to submitting your insurance claim
You start a claim by contacting the claims department, using details on your insurance company’s website or your policy document. Have the policy number, name and ID of the life assured and advise the claims team that you want to start the claims process.
Your insurer will then advise of further steps, such as completing a claim form, and if any life insurance claim documents will be required.
When your claims team has all the information and documents they require, they will assess the claim, verify the information and confirm all the details. They will also check that all the policy terms and conditions have been met, such as all premiums paid when due. When the claims team is satisfied the claim is valid, they will pay the claim.
Once this decision is made, claims are paid quickly, often within 24 hours.
Throughout this process your insurance company should keep you informed on how the insurance claim is progressing and when you can expect a final decision – if the claim is approved or not.
1Life Insurance’s commitment to a hassle-free claims process
1Life Insurance has been changing lives for nearly two decades and offers life cover policies you can tailor to your needs and budget. We are committed to paying valid claims quickly so your loved ones can enjoy financial stability. Our claims process is documented on our website, and we keep life cover claim documents and reports to a minimum. Each claim is assigned a dedicated claims consultant who keeps in contact with the claimant so that they know how the claim is progressing at all times.
Your claim can be paid quickly
Life insurance claims can take a few weeks to process with all the documentation requested. However, once the assessment process begins, the decision is made quickly and valid claims paid. You can make a claims process run smoothly by always ensuring the correct documentation is sent to the correct person, and that any documents are clear and easy to read.