Accidental death claims are additional benefits you request the insurance company to provide for your beneficiaries in a life insurance policy. The underlying claims are optional features of a life policy and may require you to pay more to cater to the extra compensation paid to your beneficiaries.
However, insurance companies must investigate the claims before approving the compensation request. So, it’s crucial to learn what the accidental death riders or provisions include before binding them in your life policy.
In addition, you must also know what the insurer considers an accidental death to qualify your claims. For example, some of the leading causes of accidental death in USA covered by the policy are car crashes, slip falls, choking, drowning, and machinery accidents, among other unpredictable accidents, excluding medical conditions.
The burden of proof is on you when you claim compensation for accidental death. Here are seven ways to go about securing that:
- Death Certificate
A death certificate will automatically be a point of reference when an insurance examiner is looking for proof. Beneficiaries of the policy can process a death certificate as a supporting document in their claim.
However, a death certificate generally considers the policyholders’ natural and accidental causes of death. But it’s acceptable as one of the documents when presenting evidence to insurance providers.
- Post-Mortem Report
A coroner examination report plays a crucial part in determining the cause of death. It’s one of the considerations insurance investigators will look into to ascertain your claims.
Accidental death riders may not cover natural death, and the insurer can only compensate for other clauses captured in a life policy. If the post-mortem report shows that the policyholder died in a road accident, the insurer must pay out what’s due to the beneficiaries.
But, if the coroner’s report says that you died in your sleep, the insurer will consider life policy clauses and settle the matter accordingly with your beneficiaries.
- Police FIR Report
It’s common practice to get a police report in an accident, whether on the road or at work. It narrates the fateful day’s events and what led to the accident that resulted in death.
Insurance providers can request you present a police report for verification purposes before checking other substantial evidence. So, ensure you obtain a copy of the police first information report (FIR) to increase the chances of getting your claim processed in the shortest time possible.
However, suppose the report points out that the policyholder is responsible for the accident. In that case, the insurer might change the consideration to a self-inflicted cause of death and may deny claims by your beneficiaries.
If you’re a life insurance policy beneficiary, you’re eligible to get compensation disbursed by the insurer. It gives you the right to claim if or when the assured person is deceased.
That said, you’ll have to prove your relationship with the deceased policyholder by providing identification. So, it’ll be wise to have information about the policy cover before submitting a claim application.
An accidental death claim has a structure that determines how the insurer can release the payment. You must check the policy to see which category you fall in, starting from preferred, primary, and contingent benefactor.
- Original Policy Bond
It becomes easy to prove and launch an accidental death claim when you have an original copy of the policy. It’ll ensure that you get compensated faster.
The insurance providers will refer to their database to confirm that the bond exists and move to validate your payment. In such situations, it’s best to bring copies of the life insurance policy to the insurer’s attention.
- Proof Of Identity
Aside from proving you’re a benefactor in a life insurance policy, you must produce proper identification of the policyholder, including your own. It simplifies the submission and approval process when presenting your claim.
So, collect all the identification documents you think the deceased policyholder used. It might mean getting their job identification if they were employed. You’ll have the necessary information to start the payout process.
- Written Statements From Employer
Written statements add to evidence presented to the insurer when proving your accidental claim. Employers can prepare a letter to the insurance company to support your statement and recommend payment to your account.
So, if the person assured is a victim of accidental death at their place of work, obtain copies of the offer letter and a written statement showing details of the date, time, and events that led to the accident. It’ll clear the doubts on the insurance examiners’ minds.
It’s tough to predict an accident in any area of life and take out insurance to cover it. It’s also an uphill task to prove an accidental death to the insurer when launching your claims. Therefore, you must first learn how a life insurance policy works and the provisions your beneficiaries can get from your insurer. Then, ask your insurance provider to explain every rider beforehand and ensure your beneficiaries know your policy.