What to do when a National Benefit Life account holder dies

Only if you checked the box. National Benefit Life's Change of Beneficiary form does not apply a per stirpes rule by default. Article II pays a deceased beneficiary's share, in one sum and in equal shares, to that beneficiary's then-living children — but only for a class "where the box has been checked." Leave the box unchecked and Article IV controls instead: the share is split among the surviving beneficiaries in the same class. Article III also defines "child" narrowly, as lawful and legally adopted sons and daughters only, so a stepchild who was never legally adopted takes nothing under that provision. And if no beneficiary in any class survives you, the proceeds go to the Owner or the Owner's estate, which means probate. Naming a trust as beneficiary is the cleaner way to carry a per stirpes plan, because the trust document, not NBL's form, then controls how the money is divided.

NBL publishes the DCL-10 Claimant's Statement in two versions split by the policy's two-year contestable period, each with generic, California, and New York editions. If the policy is more than two years old, file the non-contestable edition (claimant_statement_dcl10_nc_01_20.pdf). If the policy is less than two years old, file the contestable edition (claimant_statement_dcl10_c_01_20.pdf) — and that edition instructs that where death occurred within two years of the policy issue date, or where Accidental Death Benefits are claimed, the deceased's physician must complete a Physician's Statement and the claimant must sign a medical-records authorization. That is the two-year contestability window at work, not a sign that the claim is being denied, but it does add time. Every DCL-10 must be signed by the beneficiary and notarized; each beneficiary files a separate form; anyone can witness the form except a beneficiary. All forms are listed at https://www.nationalbenefitlife.com/public/nationalbenefitlife/policy-forms.html.

NBL's standard is stricter than most. Its FAQ states that all original documents — a certified copy of the death certificate, a completed claim form, and the ORIGINAL policy contract — are required to process a claim, and the DCL-10 instructions add that the certified death certificate must display the colored emblem or raised seal of the issuing authority. Only one death certificate is needed per claim even when there are several beneficiaries, but a certified death certificate is also required for any primary beneficiary who died before the insured. An executor attaches certified Letters Testamentary or Letters of Administration; a trustee attaches the trust document; either way the estate's or trust's taxpayer identification number is required. Everything you send becomes part of the claim file and cannot be returned, so order extra certified copies before you mail anything. On payment: any beneficiary can take one check for the full amount; payments under $2,500 are issued as a check with no other option; at $2,500 or more the beneficiary may elect a settlement option described in the policy, which the instructions note may carry fixed interest of 2% to 3.5%. Send the package to the Claims Department, 30-30 47th Avenue, Suite 625, Long Island City, NY 11101-3433.

This is a change of ownership, not a death claim. NBL states that when the current owner dies, the new owner is whoever the policy contract specifies. The Change of Ownership form is signed by the new owner, and if the new owner is an estate, the executor or administrator signs. Attach a copy of the deceased owner's death certificate and, where applicable, letters testamentary issued by a probate court. If there is no estate, NBL provides the Affidavit of Small Estate - Owner (form ISACH08, https://www.nationalbenefitlife.com/public/nationalbenefitlife/pdf/ISACH08.pdf) — a notarized affidavit in which the affiant swears the decedent "left no estate that requires probate or administration," asks to be named owner of the policy, and expressly agrees to indemnify National Benefit Life against any future claim by another party. Mail it to Policy Owner Services, 30-30 47th Avenue, Suite 625, Long Island City, NY 11101-3433; ownership requests are generally processed within 15 business days.