Insurance in the event of death: These formalities must be completed quickly

Insurance in the event of death: These formalities must be completed quickly

According to a report by Noz.de, the Association of Insured Persons points out that the death should be reported as quickly as possible, especially for insurance policies with death benefits. Depending on the insurance, there are different deadlines that are set out in the insurance conditions. It is recommended to submit a report by email and submit the documents proving the insured event later. Registered mail with copies is also recommended.

As an economist, I would like to highlight the impact that delayed death reporting can have on the market, the consumer or the industry.

Delayed reporting can result in insurance companies having difficulty providing benefits in a timely manner. This can lead to dissatisfaction among policyholders who rely on financial support in times of grief. In addition, late reporting can result in higher costs for insurance companies because they may have to provide services that they did not take into account due to late reporting.

It is therefore advisable to report the death as early as possible to ensure smooth processing. This can help consumers stay financially secure during a difficult time and allow insurance companies to run their processes efficiently.

Source: www.noz.de