Claims
We offer our sincere sympathy during this difficult time. We are here to help make the claim process as easy as possible. We understand how overwhelming this all may be and want to provide helpful resources and information for you.
Filing a claim
Follow this 3-step process
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Notify Us
Please contact us at (800) 814-3692 and we will assist you in gathering the information needed for setting up a claim. We will then send you a personalized claim packet indicating all requirements for payment.
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Provide Documentation
Send us an original certified death certificate that shows the cause and manner of death for the insured. For claims with a benefit of $500,000 or less, a copy of a certified death certificate may be acceptable. You will also need to provide a signed beneficiary statement in addition to any other requirements stated in your Nassau Claims Packet.
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Receive Payment
Payment is usually made within 15 business days of receiving all requirements in good order (or sooner when required by law).
Take time to assess your financial situation
Assessing your financial situation takes time, especially if you have recently lost someone. the option to receive your claim proceeds in the form of an interest-bearing account with check writing privileges, called a Concierge Account.
The Concierge Account earns interest on a daily basis at a specified rate, provides free check-writing privileges and guarantees the safety of the principal. We base the guarantees on the claims paying ability of Nassau Life Insurance Company. A brochure explaining how the Concierge Account works is mailed with the checkbook upon payment of a claim.
Most importantly, the Concierge Account provides beneficiaries with time to carefully consider options for using claim proceeds. This option may be beneficial to you if:
- The beneficiary is an estate or a trust, and you do not have a bank account for the entity.
- You need to keep track of expenses written from the death benefit proceeds.
- You are unsure of what to do with the proceeds, and need more time to decide.
Read more in the Concierge Account Disclosure.
FAQs
Answers to questions we frequently receive
The first step is contacting us to report the death of the insured. After a claim is opened, we will send you a personalized claims packet outlining all requirements. At a minimum, you must provide a completed Beneficiary Statement along with an original certified death certificate showing cause and manner of death. For claims with a benefit of $500,000 or less a copy of a certified death certificate may be acceptable. You will be notified in writing if any additional documents are required.
No. Only one certified death certificate is needed per claim. Originals are needed for death benefits over $500,000. For death benefits under $500,000 a copy of a certified death certificate is acceptable. However, each beneficiary will need to complete their own beneficiary statement.
If you are able to obtain the original life insurance policy or annuity contract, we ask that you return it to us along with your completed claim paperwork. However, failure to return the original policy or contract will not delay the processing of your claim.
If the primary beneficiary dies before the insured, the benefits are usually paid to the surviving beneficiary(ies), the contingent beneficiary(ies), or second contingent beneficiary(ies). A copy of a death certificate for the deceased beneficiary is required. If there is no surviving beneficiary, terms of the policy or contract will determine who is entitled to the benefits. Please keep in mind that your circumstances may vary and the ultimate beneficiary(ies) will be determined during the claim process. Please contact us for information specific to your claim.
If the beneficiary is a trust, in addition to the Beneficiary Statement and an original certified death certificate, a Certification and Acknowledgement of Trust Agreement is also required. We may also require a copy of the operative trust documents. Please contact us for information specific to your claim.
If the beneficiary is a company, a titled officer of the company must sign the Beneficiary Statement. A Corporate Resolution demonstrating that the titled officer has the authority to sign on behalf of the company is also required. Please contact us for information specific to your claim.
If the beneficiary is an estate, probate of the deceased’s estate may be required. In addition to the Beneficiary Statement and an original certified death certificate, letters testamentary (an order by the Probate Court, sometimes referred to as appointment papers, certificates of appointment or letters of administration) may also be required. Please contact us for information specific to your claim.
Probate is a legal process that takes place after someone dies and determines how the deceased person’s property is to be distributed. If the deceased left no will, or the will is not valid, probate will determine how the property is distributed. After the probate process is complete, the court will appoint or identify the estate representative, also referred to as an executor or administrator.
If the policy is assigned, the assignee and beneficiaries must complete our Affidavit of Extent of Interest, which must state the assignee’s interest in the proceeds. The remainder, if any, will be paid to the designated beneficiary(ies).
The death benefit proceeds are generally not taxable to the beneficiary, however, interest paid on the proceeds is subject to federal and state taxation. You should contact a tax advisor for more information specific to your individual situation.
All or part of the death benefit proceeds on an annuity may be taxable. The taxable portion and any withholding are reported to the IRS through Form 1099-R. There may be options available under the annuity contract that allow the beneficiary to defer the distribution of taxable payments. For more information regarding annuity taxation, please consult your tax advisor.
Grief Resources
Losing someone you love is one of the most difficult experiences. Grief is mixed with other emotions, life events, and obligations. We all grieve differently and may need different types of support throughout the process. Here are some resources to get you started.
Employer
If you are still employed, check with your company about available resources. Many times, these are called Employee Assistance Programs (EAP). EAP programs can assist in a range of areas from locating in-network counseling, resources to help with legal affairs or even financial planning. Most even have free downloadable resources.
Medical Provider
Don't underestimate the help your Primary Care Physician may provide. They can get you in touch with counselors, and provide information on local support groups.
Online
There are plenty of online resources that cater to different topics and circumstances around grief.
Tips for Survivors
Here are some tips on what you should consider doing when a loved one dies. It's important to note that the actual timing of when to complete certain tasks may vary depending on your specific circumstances and you are encouraged to discuss this information with an attorney or other estate advisor:
Immediately Following Death
- Contact the funeral home to take your loved one into their care.
- Make notifications to immediate family members and close friends. Ask them to help you contact others if needed.
- If employed, contact the deceased’s employer.
- Locate deceased’s Final Instructions:
- – Plans for burial
- – Trust Documents
- – Last Will and Testament
Within Five Days of Death
- Prepare for Burial, Funeral or Memorial Service. Go to the funeral home with a trusted family member or friend to make funeral arrangements.
- Alert the Post Office of decedent's death
- Locate important documents. They may be useful in distributing funds for expenses or to beneficiaries.
- – Birth Certificate
- – Social Security Card
- – Marriage/Divorce papers
- – Life insurance Policies
- – Annuity contracts/ 401K/Pension/Company Benefits
- – Mutual Funds/Bonds/Stock Certificates
Within One Month of Death
- Order Death Certificates. Your funeral director should be able to help you order death certificates. Be sure to order one for the courts, one for each life insurance company, one for each financial institution the decedent was receiving payments from and a few extra if you have any doubt.
- Contact Social Security Administration
- File claims for Life Insurance, and any other financial institutions the decedent is receiving benefits from
- Contact an accountant or tax preparer to discuss filing final income tax, or trust or estate tax returns.
- Contact the Department of Motor Vehicles to cancel the deceased driver’s license and transfer vehicle titles.
Within Three Months of Death
- Consult/meet with an attorney on probate
- Contact Social Security Administration
- Cancel unnecessary home services:
- – Newspaper delivery
- – Cable/Internet provider
- – Phone service
- Notify credit card issuers and credit reporting agencies
- Notify the registrar of voters
- Cancel Memberships
Within Six Months of Death
- Update your own estate documents
- Meet with a Financial planner
Important Contact Information
Department of Veteran’s Affairs - 1-800-827-1000
Social Security Administration -1-800-772-1213
Credit Card Issuers and Reporting Agencies
Equifax – 1-800-685-1111 – www.Equifax.com
Trans Union – 1-800-888-4213 – www.TransUnion.com
Experian – 1-888-397-3742 – www.Experian.com
Need to Talk to Someone About Your Claim?
Please call us at 1-800-814-3692. Available Monday - Friday, 8:30 a.m. to 5:00 p.m. ET.
Important Disclosure
This information is intended for the general public for educational purposes only. It is not intended as financial, legal or tax advice. Nassau does not provide financial, legal, or tax advice or act as a fiduciary in the service of any product. You are strongly encouraged to consult your own financial, legal and tax advisors regarding your specific circumstances. This page may contain links to third party websites or resources. These links and resources are provided for convenience only and Nassau has no control over such sites and resources, is not responsible for their availability, and does not endorse and is not responsible or liable for any content, advertising, products, or other materials on or available from them. Your use of such sites or resources is at your own risk.
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