USE THIS FORM ONLY WITH CLAIMS FOR NATURAL DEATH BENEFITS OF $15,000 2025

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering the name of the insured individual in the designated field. Ensure accuracy as this is crucial for processing the claim.
  3. Next, input the Social Security Number of the insured. This information helps verify identity and eligibility for benefits.
  4. Fill in the policy number associated with the insured. This links your claim to the correct insurance policy.
  5. Indicate the date of death clearly, ensuring it matches any official documentation you may have.
  6. Provide the date of birth of the deceased in the specified field to confirm their identity further.
  7. In the section for place of death, write down where the individual passed away, which may be required for verification purposes.
  8. Detail the principal cause of death in a clear manner. This information is essential for claims processing.
  9. Finally, ensure that a licensed physician, coroner, or funeral director completes and signs the form, including their printed name and contact details.

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If there is a Will, then the executor named in the Will (or the administrator named by the court) would apply for the death benefit. If there isnt a Will, then the benefit can be applied for and paid to individuals in the following order: The person who paid (or is responsible for paying) the funeral expenses.
The IRS Federal Form 712 reports the value of a life insurance policys proceeds after the insured dies for estate tax purposes. Because its typically the executor who manages the financial affairs of the deceased, its the executors responsibility to file the form - along with an estate tax return if needed.
So, you dont typically need to report a death to us. If a funeral home isnt involved or doesnt report the death for some reason, you should call us and provide the name, Social Security number, date of birth, and date of death for the person who died. Call TTY +1 800-325-0778 if youre deaf or hard of hearing.
Answer: Generally, life insurance proceeds you receive as a beneficiary due to the death of the insured person, arent includable in gross income and you dont have to report them. However, any interest you receive is taxable and you should report it as interest received.
Coverage for Natural Causes In most cases, life insurance policies do cover deaths resulting from natural causes. Natural causes refer to deaths that occur due to health-related issues, such as heart disease, cancer, or other medical conditions. These causes are typically not linked to accidents or intentional harm.

People also ask

Do I have to pay taxes on money received as a beneficiary? Most life-insurance death benefits you receive are generally exempt from federal income tax, though any interest earned on the payout after the insureds death may be taxable.
Death Certificate duly registered with LCR or issued by the PSA of the following, whichever is applicable: Birth Certificate of the deceased member. Joint Affidavit (CLD-1.3) preferably by the relatives of the deceased member. For legal heirs, birth certificate of at least two (2) legal heirs.

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