What to do when a Colonial Penn account holder dies
Report the death to Colonial Penn's Life Claims Department at 1-800-523-9100
A death claim on a Colonial Penn policy is filed through the Life Claims Department (1-800-523-9100). Because insurance proceeds pass directly to named beneficiaries, this process is separate from probate. The required documentation and timeline vary by policy type.
To start, call Colonial Penn at 1-800-523-9100. Have the account holder's full name, account numbers, and the death certificate ready before you call.
Death claim process
Here is the step-by-step death claim process at Colonial Penn:
Filing a claim
- Upload it through your my.colonialpenn.com account
- Fax it to the Life Claims Department at (215) 928-6052
- Mail it to Colonial Penn Life Insurance Company, Life Claims Department, PO Box 1918, Carmel, IN 46082-1918
- The deceased's name, date of birth and the source of that date of birth
- Policy or certificate numbers, the amount of insurance and the deceased's Social Security number
- Cause, date and place of death, other names used by the deceased and the deceased's mailing address
- The beneficiary's name, age, telephone, Social Security number, mailing address and relationship to the deceased
Required Documents
- Claimant's Statement for Life Insurance Death BenefitsCompleted by the named beneficiary, or by the court appointed representative if benefits are payable to an estate.
- Certified death certificate for the insuredOnly one death certificate is required regardless of the number of policies or certificates.
- Original insurance contract, if available
- Copy of the court appointment document, if benefits are payable to an estate
- Payment-by-affidavit instructions and forms, if benefits are payable to an estate that will not go through formal administrationColonial Penn provides them on request by mail or telephone.
- Estate paperwork, if Colonial Penn asks for more paperwork to complete the claimColonial Penn's examples: "probated estate document or a small estate affidavit".
- Divorce decree with property settlement agreement, in community property and divorce law states, if Colonial Penn's review finds it needs it
- Trust paperwork, if Colonial Penn asks for it during review
- Notarized assignment of proceeds, if proceeds are to be paid to a funeral home, cemetery or other entityFuneral homes and cemeteries typically have their own forms. Every policy or certificate number assigned and the maximum amount to be paid must be written on it.
- Accidental Death Claim Form, with the Physician's Statement, if an accidental death benefit is claimedThe deceased's attending physician completes the Physician's Statement. The form asks for any newspaper accounts of the accident and a copy of the police report if one was filed.
Claims Contact
Website: Online portal →
Forms Colonial Penn issues5
- Claimant's Statement for Life Insurance Death Benefits (LIFE-G 0617)
Completed by the named beneficiary, or the court appointed representative if benefits are payable to an estate. Available to download.1
- Claimant's Statement for Life Insurance Death Benefits, Pennsylvania (LIFE-PA 0617)
Completed by the named beneficiary, or the court appointed representative if benefits are payable to an estate. Available to download.2
- Claimant's Statement for Life Insurance Death Benefits, New York, Bankers Conseco (BLIFE-NY 0617)
Completed by the named beneficiary, or the court appointed representative if benefits are payable to an estate. Available to download.3
- Accidental Death Claim Form (BACCDTH-NY 0814)
Completed by the claimant, with the Physician's Statement completed by the deceased's attending physician. Available to download.4
- Payment-by-affidavit instructions and forms
Sent by the institution on request.5
What happens to each kind of account1
- Life insurance policy
If the primary beneficiary died before the insured, benefits go to the contingent beneficiary, or to the insured's estate if none was named. If the primary beneficiary died after the insured but before payment, benefits go to that beneficiary's estate.5
The death benefit payable is shown on the policy specification page, and some policies pay a benefit that depends on how long the policy was in effect. Policy loans, premium adjustments and misstatement of age may change the amount; benefit quotes are not binding.5
Colonial Penn may find a change of beneficiary in its files.6
On a guaranteed acceptance policy, the product terms shown for most states say a non-accidental death in the first two years pays the premiums paid plus 7% interest compounded annually. After two years the full face amount is paid for death from any cause.7
An accidental death in the first two years of a guaranteed acceptance policy pays the full face amount if the accident occurred while coverage was in force and death followed within 90 days of the accident. The terms differ by state.7
State requirements Colonial Penn statesPennsylvania
- Pennsylvania
In Pennsylvania, the guaranteed acceptance product terms say a natural-causes death in the first year pays 150% of the annual premium and in the second year 300%. The annual premium is eleven times the monthly premium.7
Accounts handled elsewhere2
- Bankers Conseco Life Insurance Company
Policies issued in New York, which it underwrites under the Colonial Penn Program5
Phone: 1-800-323-4542
Mailing address: Bankers Conseco Life Insurance Company, Life Claims Dept, PO Box 1918, Carmel, IN 46082-1918
- Bankers Conseco Life Insurance Company
Questions or an appeal on a New York claim determination (the number printed on form BLIFE-NY 0617)3
Phone: 1-800-851-2618
What Colonial Penn's agreement and guidance say3
- How proceeds are paid
Proceeds can be paid directly to a funeral home, cemetery or other entity if the beneficiary signs an assignment of proceeds witnessed by a notary public affirming the signer's identity.5
All primary beneficiaries need to sign the assignment, or Colonial Penn needs to be told if a beneficiary will not be assigning their portion. Send the claim form and the death certificate with it.6
If benefits are payable, Colonial Penn sends any proceeds due as a payment in the mail.8
- Who can get account information
The named beneficiary is shown on the original application or enrollment form attached to the policy, or on the policy specification page. If you cannot determine it, Colonial Penn gives it on request by mail or telephone.5
A copy of a lost policy is requested in writing.5
Sources8
- 1.Claimant's Statement for Life Insurance Death Benefits, LIFE-G 0617
- 2.Claimant's Statement for Life Insurance Death Benefits (Pennsylvania), LIFE-PA 0617
- 3.Claimant's Statement for Life Insurance Death Benefits (Bankers Conseco Life Insurance Company), BLIFE-NY 0617
- 4.Accidental Death Claim Form, BACCDTH-NY 0814
- 5.FAQs: Life Insurance Claims and Registration Tips
- 6.Other terms and helpful information, (07/20) 198439
- 7.Guaranteed Acceptance Life Insurance: Product Terms (by state selected)
- 8.How to submit a life insurance claim, (06/20) 197576
A claims associate is assigned within 1-2 weeks, and a decision follows within 1-2 weeks after all requested information is received. Both are estimates.
Colonial Penn's Life Claims Department can be reached by phone at 1-800-523-9100 and fax at 1-215-928-6052 for questions throughout the claims process.
Sources
Data sourced from Colonial Penn primary sources (22 pages reviewed). How we research.
Colonial Penn death claims support
Life Claims Department
Phone
Toll-free
New York claims (Bankers Conseco)
Fax
Hours
Mailing address
Website
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