How Does The Life Insurance Company Know When I Have Died?

How Does The Life Insurance Company Know When I Have Died?

How Does The Life Insurance Company Know When I Have Died? – Life insurance companies typically do not know when a policyholder dies until they are informed of his or her death, usually by the policy’s beneficiary. Even if a policy is in a premium-paying stage and the payments stop, the insurance company has no reason to assume that the insured has died.

Also, death certificates are issued by local government agencies who aren’t required to notify life insurance companies every time a citizen passes away. So, insurance companies typically don’t even know that a policyholder has passed away until someone submits a beneficiary claim.

Again, Thanks for reading How Does The Life Insurance Company Know When I Have Died? from your friends at Joyanna Insurance.

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