Generally speaking, your beneficiary will receive a death benefit if you pass away, as long as your cause of death is covered by your life insurance policy.
Most life insurance policies have a two-year contestability period. That means that if the policyholder passes away within the first two years of his or her coverage, the insurer may take a closer look at the cause of death. In some cases, insurance carriers require an investigation to confirm that the cause of death is covered and that the policyholder didn’t answer untruthfully on his or her insurance application.
For policies purchased before September 3rd, 2022: If the claim takes place after the contestability period and our insurance partner Vantis Life Insurance Company determines that no investigation is needed and the claim received is in good order, payment of the death benefit will be processed within three business days of receipt.
Claims that are under investigation cannot be paid until the investigation is complete.
For policies purchased after September 3rd, 2022: Claims are reviewed by Western-Southern Life Assurance company and will be paid out as quickly as possible. Claims within the contestability period will be reviewed and cannot be paid until the review is complete.