When a person dies, their relatives and relatives go through a very difficult time, not only because of the consequences and personal feelings of the absence of a loved one, but also because of the multiple paperwork and formalities that must be carried out, which are sometimes Boring and hard to understand.
One of the procedures that must be followed when a person dies is the complaint, and if you use it, your life insurance. It is a visiting cleaning work that the beneficiary of life insurance must carry out within a certain period.
However, meeting these deadlines is not always easy. Especially when we don’t know if the deceased had life insurance, or even if we knew they had life insurance, we don’t know which insurance company they signed with or who the beneficiaries were.
In accordance with the general provisions of the Insurance Contract Law, when an event occurs that gives rise to the collection of the benefits of the policy, the insurance company must be informed within a maximum period of 7 days after the event occurred. However, it is always advisable to look at the general conditions of the contract to confirm that they do not specify a different period.
Therefore, although the law establishes the term for notifying the insurer of the death of the insured, it also provides for the extension of the term for collection from the beneficiary, taking into account the difficulty of such management in some cases. Life insurance compensation without loss of rights.
What is the legal term to apply for life insurance?
In general, Decree No. 72/2008, of April 16, obliges the insurer to notify the death of the insured within a maximum period of 8 days, unless otherwise established in the life insurance contract. realize. That is, without your knowledge, the law does not indicate that 8 days have passed since death.
And, as we have pointed out before, there can be many situations that prevent compliance with this term: the policyholder dies one day, but we only know x days later, it takes longer to find out that he has life insurance, etc.
Thus, the same law establishes that, in the case of life insurance, “the contract derived from the insurance contract expires within a period of five years.” Thus, in effect, life insurance is requested for a period of up to 5 years after the death of the insured, with prescription from the date the beneficiary becomes aware of his rights.
When a person buys life insurance, they do so to protect themselves and their family. This type of policy provides the necessary economic support so that the holder or, where appropriate, the beneficiary, can continue with their daily activity in the event of death, disability or dependents.
