D. Duties of Insured and Insurers in the Event of Loss

In the event of loss, the following steps must be taken by the parties to the insurance contract:

• The insured must notify the company of the loss.
• The insurer's agent will mail claim forms to the insured.
• The insured completes the forms and returns them, with the proof of loss, to the insurer.
• The insurer pays the claims as soon as possible (or within the time limit specified in the policy or by state law).

Upon receipt of a written proof of loss, the insurer must pay death claims immediately. (Most states interpret this to be within 30 days.) If there is no beneficiary named in the policy, the death proceeds are paid to the estate of the insured. (An insurer cannot delay the payment of a death claim until the settlement of the estate of the insured has been completed.)