Estate Planning 101

Notifying New York Life After a Loved One’s Passing

September 13, 2023

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Managing the affairs of a deceased loved one can be overwhelming, particularly when it involves navigating their insurance policies. If your loved one had a long-term care insurance policy with New York Life, notifying them promptly is essential to cease payments and understand any potential benefits that may be due.

Who Should Be Notified

New York Life should be notified if your loved one held a long-term care insurance policy with them. This is necessary to stop any ongoing premium payments and to determine if there are any pending claims or benefits to be paid out.

When to Notify

It's advisable to notify New York Life as soon as possible after the death of the policyholder. This helps prevent any unnecessary payments and allows any pending claims to be settled promptly.

How to Notify

To notify New York Life of a policyholder's death, you can call their customer service line at 1-800-695-4331. Be prepared to provide the policy number and details about the insured individual. It will also be necessary to provide a copy of the death certificate, either by mail or fax, at a later stage.

What to Expect After Notification

Once New York Life has been notified of the death, they will guide you through the next steps. This typically involves completing a claim form, if there are any pending claims, and providing a certified copy of the death certificate. After processing, any due benefits will be paid out.

Tips for Notification

When contacting New York Life, have all necessary information available, including the policy details and the deceased's personal information. Ask about the expected timeline for processing any claims and be sure to keep copies of all correspondence for your records.

Conclusion

Though dealing with a loved one's insurance matters after their passing can be challenging, notifying New York Life about the death promptly can ensure a smoother process and that any due benefits are distributed as intended.

FAQ

Q: What if I can't find the policy number?
A: If you're unable to find the policy number, New York Life's customer service can often locate the policy using the insured's personal information.

Q: What happens if there were unpaid long-term care claims at the time of death?
A: If there were approved but unpaid claims at the time of the policyholder's death, these will typically be paid to the policyholder's estate.

Q: Can a family member or estate receive a refund of premiums paid if the policyholder never used their long-term care benefits?
A: Most long-term care insurance policies do not offer a refund of premiums if the policyholder never used their benefits, but it's best to check with New York Life for the specifics of the policy.