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 initial insurance application. After those two years, nearly all claims are approved without any additional investigation.
If the claim takes place after the contestability period, or if 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 by the police or the medical examiner cannot be paid until the investigation is complete.