Life Insurance claim, deceased parent

  • Hi Guest, welcome to the help forum. You can get fast answers to your customer service questions here. We have a dedicated team of advocates who are ready to help. Just go to the section that matches your question and ask us!
  • If you've posted a question or issue for our advocates to assist with, please be sure to check back frequently for responses and requests for clarification.
  • Did you know you can get email notifications when something new posts to your favorite forum? It's easy. Just click the "watch" link right next to the "post new thread" button at the top of your favorite forum. The rest is easy. Now you'll never miss another conversation.
  • Want to become an expert user? Drop by the How to use this forum section and all will be revealed. We'll show you how to make the most of your experience.
Jan 22, 2018
My father passed away and I am the sole beneficiary of a life insurance policy. I called the insurance company and they told me the first step is to change the name of the policy holder to myself, which I am currently awaiting the paperwork on. Is this S.O.P? Wouldn't they just close his policy and pay out once I send the death cert., etc.? I don't trust insurance companies, and I can't afford a lawyer and I'm just trying to not get tricked into doing something I shouldn't. Any advice is appreciated.
Feb 9, 2016
Do not change the name of the policy holder to yourself. That means the policy holder is alive so they don't have to pay out.

When my father died, we just filed the necessary paperwork, proof of death Etc and got paid out.

You can probably Google for more information, or consult an attorney
Likes: jsn55
Sep 19, 2015
Shrouded1, the information given to you by the insurance company is wrong. Only the named policy holder is insured. Once that person passes away there is no more policy and they should not be trying to trick you into changing names,

I recently went through this with an insurance company that was ethical and did not try this bad stratgey.

Here is my non legal advice. If you have a copy of the policy keep it handy.

Call the insurance company and ask for the claim department. Ask to be sent a claimant statement.

Fill out the claimant statement with the name of the deceased. Include a certified copy of the death certificate.

In the form I had to fill out, there is a section for the insured/decedent. Fill that out with the policy number.

Claimant information -- the form I filled out had a section asking stating:

I am filing this claim as: ___ an individual who is a named as a beneficiary under the policy

___ a Trustee of a Trust named as a beneficiary
____ an Executor of the Estate who is named as a beneficiary under the policy
___ other

Shrouded1 would file as an individual who is a named beneficiary

Be prepared to send in copies of documents to prove identity

The insurance proceeds are generally not part of the Estate.

Good luck, and do not be talked into taking out another policy
Prior to the server problem I had asked if you're sure this is an insurance policy or is it an annuity issued by an insurance company? There are several different kinds of annuities and some of them can be transferred to a designated benefactor after the annuitant's death. Others can be paid to a beneficiary over several years. It depends upon the original contract.

Regardless of whether it's a life insurance policy or an annuity, you should get clarification from the agent who sold your father the policy or annuity. If it's indeed an insurance policy, follow @Christina H 's advice, above.
Likes: jsn55
Jun 27, 2017
Thanks for the info about the server upgrade. When I tried to get into the forums, my existing profile was gone, kaput. No recognition of my email, name, nada. So I created a new one, similar to the previous one. Today, the new one was kaput, but the old one came back. All is well.

Re: Life Insurance. I worked for a life insurance company for several years. Yes, the beneficiary should fine out what kind of policy and/or annuity it is. My mom had annuities, which we cashed out following her passing. A relatively simple process that required each of us to complete a claimant form, submit a death certificate, submit proof we were her daughters (copy of marriage certificate as my name changed).