Here you will find answers to some frequently asked questions. If you don't find your question, please contact us.
Please send your fully completed claim form and one certified death certificate, along with any additional required documentation to:
Texas Life Insurance Company
Attn: Claim Department
P O Box 830
Waco, Texas 76703
Waco, Texas 76701
You can fax the claim form and any additional documentation to begin the claim process, however, we do require one certified death certificate for each claim and the original forms for processing.
Most funeral homes will provide the family of the deceased with several certified death certificates. You can also contact the Vital Records Division in the state where death occurred for this document.
Certified death certificates have either a raised seal or a multicolored signature seal from the county, city, or state that issued the certificate. In addition, the original death certificate should contain the signature of an appropriate officer of the county, city, or state certifying the time, place and cause of death.
It is recognized and legal proof that an individual is deceased. It contains the official cause and manner of death of the decedent.
No, we will not. We must receive a certified death certificate with the final manner and cause of death.
Yes, a copy is acceptable if the face amount is $25,000.00 or less.
A claim is considered incontestable when the insured's death occurs two years or more after the policy's issue date or reinstatement date.
A claim is considered contestable when the insured's death occurs within two years of the policy issue date or reinstatement date. On a contestable claim, the Medical History Section D of the claim form must be completed. We will also need the completed Death Claim Authorization signed by the beneficiary or the personal representative of the Estate. On contestable policies, the Company will conduct a review to confirm that there was no material misrepresentation on the application that would have caused the Company to decline the issuance or reinstatement of the policy. This review is complex and takes longer to complete as we have to order medical records. The cooperation of the beneficiary, next of kin and the medical providers is essential to secure the necessary information as quickly as possible. We will keep you informed of our progress.
A funeral home assignment is a binding contract between a beneficiary and a funeral home. If a beneficiary signs an assignment form authorizing us to direct payment of all or a portion of the proceeds to a funeral home and the assignment is received prior to the claim being settled, we are obligated to honor the assignment and pay the funeral home accordingly. In some instances, a policyowner will enter into a collateral assignment with a funeral home prior to the insured's death.
The UTMA (Uniform Transfers to Minors Act) or UGMA (Uniform Gifts to Minors Act) permits disbursement of funds to a minor child without guardianship papers. There are certain guidelines and limitations determined by each state regarding disbursement of funds to a minor under these Acts. Contact our office for specific information. If you are representing a minor or an incapacitated person, you should seek legal advice.
If a beneficiary's name has changed due to marriage or divorce, a copy of the marriage or divorce decree is required. If the name has changed due to any other reason, we require a court document indicating the name change from the birth name to the requested name.
The Social Security Number or Tax Identification Number is needed to report interest payments and any taxable gain to the Internal Revenue Service. Interest is paid on most claims and is reported to the Internal Revenue Service if the amount is greater than $10.00.
In most cases, the death benefit proceeds are not taxable; however, any interest paid is subject to federal and state taxation. We will not withhold any taxes unless you request we do so or you have advised us that you are subject to backup withholding.
This form is utilized for reporting to the Internal Revenue Service interest payments made to an individual or entity (such as a trust or estate) during any calendar year. Form 1099-INT is mailed to an individual or entity in January of the year following the interest payment and provides the individual or entity the amount of interest paid to be reported on their tax return. You will receive a Form 1099-INT if the interest paid on your claim is $10.00 or greater.
All or part of the death benefit proceeds on an annuity may be taxable. You can elect to withhold a portion of the Federal taxable payment at a rate of 10% or higher or elect to have no withholding at the time of payment. The taxable portion and any withholding is reported to the Internal Revenue Service through Form 1099-R. In addition, some states require withholding on the taxable portion when Federal taxes are withheld. For more information regarding tax consequences, please consult your tax advisor as there may be options to defer the distribution of taxable payments.