Is there a time limit on when a life insurance policy can be cashed in?
My grandmother passed away last year and my dad is the beneficiary of her life insurance policy. He’s still in denial that she’s gone, so he still isn’t going anything with any of her assets. I’m worried that if he waits too long that there may be some restriction on how long he can wait to cash her life insurance policy. Does anyone know if you can wait as long as you want or if you have to do it within a year or longer?
You can wait as long as you want as long as the premiums are still being paid, or is it paid up?
You can call the insurance company and let them know she has passed away. They will send the beneficiary the paperwork to sign and return back to them along with the death certificate. You can call them and at least get the ball rolling.
There is no time limit. But things can get more complicated if the policy cancels or if something happens to your dad and there is no contingent beneficiary named.
So, its just better that you call and get the death claim going. It makes life easier for everyone.
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