Common Questions About Life Insurance Claims
How do I file a life insurance claim?
To start, call the New York Life toll free claims number 1-800-695-5165 to report the death. Our Business hours are 8 a.m. to 5 p.m. (Eastern Time), Monday through Friday. A representative will help you complete your claim.
What documentation will I need to submit?
The beneficiary should provide a fully completed claim form and certified death certificate. If the death is due to an accident or homicide, the beneficiary should also provide a copy of the final police report and/or the coroner’s report and copies of any news articles.Back to Top »
How do I obtain a certified death certificate?
Most funeral homes will provide the family of the deceased with several certified death certificates. You can also contact the Vital Records Division in the state of the deceased for this document.Back to Top »
What is required if the beneficiary is an estate?
The court appointed executor/personal representative should submit the fully completed claim form, certified death certificate and copy of the court papers appointing the individual as the executor or personal representative of the estate.Back to Top »
What is required if the beneficiary is a trust?
The trustee should submit the fully completed claim form and a certified death certificate. A copy of the trust may also be requested.Back to Top »
What is required if the beneficiary is a minor child?
If the child is under the age of majority (this varies according to the state of residency), guardianship papers will need to be submitted with the claim form and certified death certificate.Back to Top »
What happens if there is no guardian named for the minor child?
The UTMA (Uniform Transfer to Minors Act) permits disbursement of funds to a minor child without guardianship papers. There are certain guidelines and limitations determined by each state regarding disbursement of funds to a minor under this act. Contact New York Life for specific information.Back to Top »
What is an incontestable claim?
A claim is considered incontestable when the insured’s death occurs two years or more after the insurance date or reinstatement date.Back to Top »
- What is a contestable claim?
How will the claim be paid?
Claims can be paid by issuance of a check to the beneficiary’s address provided on the claim form.Back to Top »
Can payment be made to a funeral home?
Yes. If the beneficiary signs an assignment form authorizing us to direct payment of all or a portion of the proceeds to a funeral home and the assignment is received prior to the claim being settled.Back to Top »
Why does a beneficiary, estate or trust need to provide their Social
Security Number or Federal Tax Identification Number?
The claim cannot be processed without this information. Interest is paid on most claims from the date of death until the date the claim is paid. The Social Security Number or Federal Tax Identification Number is required to report interest payments to the Internal Revenue Service.Back to Top »
When is a Federal Tax Identification Number utilized?
A Federal Tax Identification Number will be issued to an estate of a deceased or to a trust. The Federal Tax Identification Number is used to report the interest paid to an estate or a trust.Back to Top »
What is a primary beneficiary?
The person(s) or entity designated by the insured to receive the death benefitBack to Top »
What is a secondary/contingent beneficiary?
The person(s) or entity designated by the insured to receive the death benefit in the event the primary beneficiary dies before the insured, disclaims the death benefit or is disqualified under law.Back to Top »
Where do I find tax forms?
The following tax forms are available from the IRS:
What is a Form 1099-INT?
Forms 1099-INT are utilized to report to the Internal Revenue Services interest payments made to an individual or entity (such as a trust or estate) during any calendar year. Forms 1099-INT are mailed to an individual or entity in January of the year following the interest payment. Form 1099-INT informs the individual or entity of the interest amount paid to be reported on their tax return.Back to Top »
My policy has a living benefit rider, how do I know if I qualify for this
You may call our toll free number 1-800-695-5165 for assistance. Our business hours are 8 a.m. to 8 p.m. (Eastern Time), Monday through Friday or 9 a.m. to 5 p.m. Saturday. Alternatively, you may complete a Living Benefit Rider claim form and mail the form as indicated in the instructions on the form.Back to Top »
My policy has a waiver of premium benefit, how do I know if I qualify for
You may call our toll free number 1-800-695-5165 for assistance. Our business hours are 8 a.m. to 8 p.m. (Eastern Time), Monday through Friday or 9 a.m. to 5 p.m. Saturday. Alternatively, you may complete a Waiver of Premium claim form and mail the form as indicated in the instructions on the form.Back to Top »