We give you some tips and indicate the deadlines to take into account when making life insurance claims . From obtaining a copy of the policy and notifying the insurance company as soon as possible, to saving all correspondence related to the claim and seeking legal advice from lawyers specializing in life insurance if necessary. If you need legal advice to carry out these procedures, do not hesitate to contact a Law Firm in Madrid specialized in life insurance.
With this information, the life insurance claim process can be less stressful and more effective.
The first thing you should do is obtain a copy of your life insurance policy shareholder database and review it carefully to find out the exact coverage and exclusions. It is also advisable to make a copy of the necessary documents, such as the death certificate and the insurance claim application.
It is essential that you notify the insurance company of the situation as soon as possible. Typically, insurance companies have a 30-day deadline to process the claim, but it is important to check the deadline on the policy or on the company's website.
According to the Insurance Contract Law, an insurer has a period of 40 days from the date the entity becomes aware of the incident to respond . Within this period, the insurer must pay its client the minimum amount that corresponds to him . When possible, and if the insured accepts it, the compensation can be replaced by the repair of the affected object or by its replacement.
Once you have notified the insurance company, it is advisable to save all correspondence related to the claim, including emails and letters. If the insurance company requests additional information , it is important to provide it as soon as possible to avoid delays in the claim process.
You should also keep in mind that the insurance company may request an investigation to verify the cause of death. In some cases, the insurance company may deny the claim if it is determined that the death was caused by an activity excluded in the policy, such as a drunk driving accident.