Is there a time limit for claiming life insurance death benefits?
My company used to sell insurance all over the world, including in Russia before the 1917 revolution. We left there shortly after World War I when the ruble was made non-convertible and we couldn’t continue to operate. Back in the late 1980’s, someone brought me a copy of a policy on a relative who had died in the ’50’s. The policy had been “paid-up”, meaning no more premiums were due. My company had been holding the money waiting for someone to file a claim. After providing evidence of death and convincing us that they were direct descendents of the insured, we paid them the original face amount (not a huge sum) plus interest on that amount calculated from the date of death (which was a pretty large sum). So there’s no time limit. It might get harder and harder to prove you’re the right person to receive the proceeds, however.
