After death-- how long to recieve insurance money?

Question

My friends husband just died and she asked to borrow money for the funeral and other costs. How long does it usually take to collect the insurance money, so i will know how long to extend the repayment date.

Answer 1

If her husband had life insurance and she is the beneficiary the insurer will almost always pay within 30 days on a valid claim - and often within a week of getting the death certificate. It's also a good idea to send them a copy of the obituary.

BUT if the estate is the beneficiary she may have to wait until the estate is settled before getting the money - and then only after his estate's debts are paid.

I know you feel for your friend, and you want to help. Very admirable. Just please make sure you know what you're getting into, and please, please get an agreement in writing as to when she will pay you back. Be sure not to say "as soon as she gets the insurance money". Put a specific time table for repayment. It has nothing to do with trust, and I'm not saying she's scamming you. But with your most important relationships better to make sure everyone is clear about what is supposed to happen so you can minimize miscommunications that can only lead to angry, hurt feelings and lost friendships.

Good luck!

Answer 2

i think this depends on every country. coz in the country where i am, once the person died, a witness for the death (if family members/relatives found it) must call the police and report the incident. the police officers will investigate it first whether it is a murder/homicide or neutral death, per se. after the investigation, the officers will give a certificate of their investigation to be submitted to the city hall to get a death certificate. and then the member could wire the insurance company about it. *coz not all insurance company will release the money unless there is a hard evidence of the neutral death. *coz some are being murdered to get paid from the insurance company only.
So if you have the kind heart to lend money to your friend, you may extend your help to her but dont expect much to receive payment soon. give her time too. my condolence to your friend.

Answer 3

It usually takes about 30 days sometimes in most cases the funeral home will work with the family and have the insurance check come directly to them being that there is insurance so that way there is no problems moving forward with the funeral and letting the family begin to heal. So if I were you before I issued the money I would suggest that she take the insurance policy up to the funeral home or even to a bank, most banks will allow a loan against an insurance policy, but I would suggest to her those ideas first.

Answer 4

Funeral directors are flexible when they know that insurance is involved.

That being said, life insurance proceeds are processed very quickly. Your friend should contact her insurance agent or, if it was insurance through the employer, the HR department. SHe will need a copy of the death certificate. The claims depts of insurance companies move very quickly on valid claims with proof of death. Less than a week even.

Answer 5

She'll have to submit a death certificate to the Insurance Company. Once they have the death certificate, it should only take a couple weeks.

It took me about 6 weeks to get a certified copy of the death certificate when my husband passed away. However, it can vary greatly. It only took about 3 weeks, in another state when my mother died to get the certified copy.

Answer 6

Insurance companies pay out almost immediately when death is not questionable. There are thousands of people out there who use the money from these policies to pay off funeral costs directly.

Are you sure your friend isn't scamming you?

Answer 7

She can get an advance from the insurance company on this, it happens ALL the time.

But normally, it's within a few weeks of the death certificate and claim papers being received.

Answer 8

I recommend you to try this web site where onel can get quotes from the best companies: http://INSURE-HELP.COM/index.html?src=5YAqqC1AOR8gjm1

RE :After death-- how long to recieve insurance money?
My friends husband just died and she asked to borrow money for the funeral and other costs. How long does it usually take to collect the insurance money, so i will know how long to extend the repayment date.
1 following 12 answers

Answer 9

Usually the estate and probate is settled within 60-90 days

Answer 10

After you produce the death certificate and all suspicions are ruled out.