How to Collect Death Benefits for a Child When the Father Dies
- 1). Get the policy number. The policy number for the father's life insurance policy is necessary in order to file a claim and is located on the original policy or the most recent policy statement. If you can't locate the number, the insurance company may be able to look up the policy if you have the child's Social Security number and if that number was listed on the policy's application.
- 2). Get the forms you need. Life insurance companies have death claim forms which must be filled out before a claim is paid out to you. These claim forms are obtained by calling your insurer's customer service department. You'll also need a copy of the death certificate. This is obtained from the funeral home that performed the funeral services. Alternatively, you may get this from your state's office of vital records.
- 3). Fill out the death claim form. You must fill out the death claim form indicating that you are financial guardian for the minor child and that the child is the beneficiary. You must also note the policy number.
- 4). Submit the forms. You must attach a copy of the death certificate to the death benefit claim form and submit these together to the insurance company. The insurer will process your death benefit claim form within the time frame required by law. In many states, the claim must be processed within 30 days, although this varies by state.
- 5). Invest according to the wishes of the father. As the financial guardian, you must invest the proceeds of the death benefit prudently. The father's wishes are normally outlined in the will. In some cases, there are special instructions and a trust fund established for the child. As a financial guardian, you might be named as the trustee to oversee the assets until the child reaches the age of majority in your state. At this age, the child takes over management of the funds.
Source...