How Long Does An Insurance Company Have Before They Must Pay Out On A Life Insurance Claim?
January 3rd, 2010 - ByPosted in Life Insurance
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.
4 Responses to “How Long Does An Insurance Company Have Before They Must Pay Out On A Life Insurance Claim?”
January 3rd, 2010 at 12:47 pm
Here is a link to the California Department of Insurance website specifically relating to claims payment issues:
January 3rd, 2010 at 7:47 pm
Check with the California Dept of Insurance (may be called Insurance Commissioner) Insurance companies are allowed time to investigate, however they have to comply with state laws and regulations
January 4th, 2010 at 2:00 am
A reputable company will pay within 10 days of recieveing the death certificate. However, if there is anything quesitionable (murder by the beneficiary, suicide, etc) they will delay it.
January 4th, 2010 at 4:13 am
Hi-
If it is after the 2 year incontestability period, then a reputable company should take 2 weeks at most. If it is during the first two years of insurance, the insurance company has a right to delay to investigate.
If you have a complaint I would recommend going to http://www.insurance.ca.gov
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