Question : How long does an insurance company have before they must pay out on a life insurance claim?
I'd like to know if there's a law or rule (especially in California) regarding the time between the death and the life insurance payout.
- asked by Inquiring Mind
All Answers:
Answer #1
A reputable company will pay within 10 days ofrecieveing the death certificate. However, ifthere is anything quesitionable (murder by thebeneficiary, suicide, etc) they will delay it.
- answered by phil_palmer
Answer #2
Check with the California Dept of Insurance (maybe called Insurance Commissioner) Insurancecompanies are allowed time to investigate, howeverthey have to comply with state laws andregulations
- answered by sloppy joe
Answer #3
Hi-If it is after the 2 year incontestabilityperiod, then a reputable company should take 2weeks at most. If it is during the first twoyears of insurance, the insurance company has aright to delay to investigate. If you have acomplaint I would recommend going towww.insurance.ca.gov
- answered by xpo158
Answer #4
Here is a link to the California Department ofInsurance website specifically relating to claimspayment issues:
- answered by Massieus
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