JobZakfStep one: notify the insurer
The beneficiary contacts the insurer, supplies a certified death certificate and completes a claim form. Having the policy number saves days.
How long it takes
Straightforward claims are often paid within weeks. Deaths within the first two years can trigger a closer review of the application.
Lump sum or instalments
Most insurers offer a lump sum, and some allow instalments or an annuity. Try the Payout Drawdown Simulator to see how long money lasts.
Tax basics
Death benefits are often free of income tax for the recipient, but estate or inheritance rules can apply and vary by country. Confirm with a local professional.
Frequently asked questions
Who gets the money?
The named beneficiary, not the will, unless the estate is the beneficiary.
Can a claim be denied?
Yes, for example for material misstatement or an excluded cause. Accurate applications prevent most disputes.