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Having to sort out all the unpleasant legal and even financial parts after the death of a loved one. It is not easy to have to consider the economic aspect in this situation, but for many families clarifying and defining this aspect is a fundamental question that will help define their future: it is time to redeem life insurance.
Requirements to redeem life insurance
The first thing to be able to redeem life insurance, of course, is to have the life insurance signed by the deceased. If present, in the official documents, a copy of the contract must be included. If you are not sure if the deceased has life insurance, you can request it through the ASF, a service designed to provide this information.
To find out if the deceased has life insurance, you can visit the ASF website to download an information request form and submit it to the agency with the following documents:
Death certificate or declaration of presumed death of the insured;
Civil and financial identification documents of the agent;
If the request is made by a representative, the documentation proving this quality;
If the request is made by a legal person, certificate from the Mercantile Registry.
The second step is to find out if you are the beneficiary or one of the beneficiaries of this policy, or one of the designated beneficiaries. If you do not have a copy of the contract, you will need to do so to find it. Contact the insurance company directly. It will confirm if you are the beneficiary and the specific conditions of the policy.
Documents needed to redeem life insurance
To redeem a life insurance policy when you are determined to be the beneficiary, you will need to prove it. The insurance policy contains information that can identify you, but you must also present a copy of your citizenship card to prove that you are the applicant, along with the following documents:
Beneficiary or contribution card of the beneficiary.
Discharge records and admission statements.
Notify the police in case of an accident.
How long does it take to process the compensation?
After all documents are submitted, the insurance company will be responsible for reviewing and reviewing the documents to approve payment of benefits. If all goes well, it’s usually fast: you usually pay within 20 days of submitting all the documents.