How to get life insurance

How to get life insurance


You like to be well protected, you and your family, which is why you purchased life insurance. A misfortune has happened, the time comes to recover the amount owed to you. How to do? Where to start? Are you living in this situation and asking yourself these questions? This article is made for you! Find out how to get life insurance in a few easy steps.

Get life insurance

Insurance is a contract. This means that both parties have obligations. Yours is paying your life insurance premiums, among other things. The insurer's job is to compensate you when the time comes. Or rather, it must pay an amount to your beneficiary, the person who you designated when you signed the contract.

Depending on the type of insurance, the triggering event for compensation is the death of the insured person or the fact that they have reached a certain age. So, the beneficiary will probably have to send the insurer proof of one or the other of these facts, such as a certificate of death. Typically, payment will be made within 30 days of receipt of supporting documentation.
If the beneficiary of the life insurance in question has been correctly named, the amount of money he will receive will not be part of the estate of the deceased person. He will therefore receive the money directly. Otherwise, the amount will be included in the estate.

It is obvious that each insurer has its own requirements. We can easily say that there are as many conditions as there are insurers! It is therefore very important to educate yourself on this subject and fill out the forms required to achieve your goals.

Steps

Recovering life insurance is done in a few simple steps:

    On the death of the insured person, the Director of Civil Status will issue a death certificate.
    There should then be a will search with the Chambre des notaires du Québec.
    The executor must produce copies of the following documents:
        life insurance policy so that it meets the requirements of each company
        pension plan document
        will, codicil or declaration of legal heirs, as the case may be
    the designated beneficiary will then have to sign certain documents in order to receive the compensation.