What dependents need to consider after the death of a policyholder

When a person dies, it is a bitter and sorrowful experience. Many relatives forget that the insurance documents must also be checked in a timely manner. Unfortunately, this is exactly what is required, however deep the grief may be. Otherwise, in case of doubt, even the insurance benefit is at stake!

If there is an insurance policy in the event of death, such as a term life insurance policy, then the insurer must usually be informed immediately. The period within which this notification must be made can be found in the insurance policy: The usual time for this is 3 days. The period begins as soon as one has learned of the death of the insured person. If the death is caused by accident, the accident insurance even insists on a notification period of 48 hours, unless otherwise agreed in the contract.

Before the insurer pays out the death benefit, it will insist on the submission of further documents. For the most part, you have to present the original insurance policy and a copy of the death certificate as well as the death certificate to the insurance company. There may also be a doctor's report on the reasons for the person's demise or death. (if the relatives apply for the benefit as heirs) a certificate of inheritance is required. Before sending the original insurance certificate, a photocopy should be made. After all, many a document has been lost in the mail!

In the case of inherited residential property, the building insurer must be informed

If residential property or land was inherited, the building insurance company must also be notified. The insurance then passes to the heirs, so there is no gap in insurance coverage. The same is true for homeowners and landowners liability insurance or. the associated water damage liability insurance. By the way, there is no special right of termination in the event of death. The usual notice period of i.d.R. 3 months.

In private health insurance, insurance coverage ends with the death of the policyholder if he or she was the insured person. Co-insured family members must come forward within 2 months and say if they want to continue coverage. Also, the new policyholder must be disclosed.

Motor vehicle insurance passes to heirs

Care must also be taken with automobile insurance, which also does not provide for an extraordinary right of cancellation in the event of death. As a rule, the insurance coverage for the heirs continues to apply, but is adjusted to the new conditions. A competent insurance intermediary can advise on insurance issues when the bereavement has occurred. In case of uncertainty about the necessary steps, an expert should be consulted!

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