How to claim a life insurance policy
Life insurance is like a fire extinguisher. You get one, because it seems like the wise thing to do. Then you hope you never actually need it.
New Zealand is well below the OECD average in terms of how many people have life insurance, so not everyone is thinking about why they might need it.
We’ll let you figure out how to drive that fire extinguisher, but in case you do need to submit a life insurance claim, here’s what you’ll need to know.
How to claim on a life insurance policy
Having to claim on a life insurance policy can be hard, but not just because of the paperwork itself. The first thing to remember is to give yourself time and patience as you manage the grief of losing a loved one.
If you’re struggling to even start the process, ask a friend to help you with the paperwork so they can support you through it.
If you’re claiming on a life insurance policy after someone has passed away, you’ll need to get a copy of their policy document. This will outline the steps you need to take for that specific policy.
You will usually also need:
- A certified copy of the Death Certificate
- A certified copy of the person’s identity (such as their passport, driver’s licence, or birth certificate)
- A certified copy of your identity (such as your licence or passport)
With these forms, you should have everything you need to fill out the claim form and send it to the insurance company. Again, be sure to ask a friend for help if you need support or call the policy provider if you have questions about the process.
Steps to take when making a life insurance claim
Track down the life insurance policy document. If you don’t have it, it should be on the provider’s website, or you can contact them for a copy.
Typically, you’ll need to fill in a claim form. Be sure to select the right one, as it’s possible that your insurance provider might provide cover for different options, such as terminal illness, serious illness or total & permanent disability, so be sure to select the appropriate form for your situation.
You’ll need to fill in this form and send it to the policy provider within a certain time frame of the event. This time frame is usually several months long (check that policy document), so there isn’t a huge rush – but don’t put it on the backburner, either.
Note that filling out your form might require additional documents from medical practitioners, such as test results. This will depend on what you’re claiming for.
You’ll then send your forms via mail, or email, depending on the options available.
Tips for a smooth claim experience
Keep these tips in mind when filling out your forms to make the process go as quickly and smoothly as possible:
- Always be honest
- Make sure to fill out every section correctly and in full (if something is missing you might have to go back and do it again, or you might not receive your claim)
- Use current documents (if you are using a passport or licence as a copy of your ID, it must not be expired)
- Use the exact same details on the claim form as in the identification documents (don’t write ‘Sam’ on the form if you are a ‘Samuel’ or ‘Samantha’ on your licence)
- Double and triple check the address you’re sending your application to
- If in doubt, call your provider for clarification
What to expect after submitting a claim
The time it takes for a benefit payment to be made can vary a lot from one provider to another. Some cases might be quick and straight-forward, whereas others might need some back-and-forth with additional paperwork or information from medical specialists.
At the very least, you should expect updates from your provider if your claim is delayed in any way. They will also let you know if they need more information, so you can act quickly to send that through to keep things moving.
Getting Life Insurance
You may take a look at our OneChoice Life Insurance options to learn more about what’s covered and how you can help keep yourself and your family safe.
The information provided in this article is general information and shouldn't be relied upon as legal advice or as a substitute for legal advice. If you have legal questions you should contact an appropriate professional.
27 Aug 2024