Five Years before Life Ins Co. Pays $?
Seven years??!! ... then he would need her body to be found. Well so much for life insurance money as a main motive....
sbm
@Lilypad13 sbm In
Colorado, it could be 5 years for MisPers imo. I hope this, using cut & paste from my two posts, helps explain:
MisPers & Life Ins Claims? post 469
When an insured person goes missing & beneficiary assumes that MisPers to be dead, beneficiary will/ can file a death claim w ins co. If
ins co doesn’t think the
(not-yet-in-court) case is strong enough to presume MisPers is dead and
denies the claim, beneficiary can:
---
Petition the court to declare MisPers dead.
---
Sue ins co. for death benefit.
Presumed Dead? post 473
Colorado. If no 'regular' death certificate, per (b)
* below, then if MisPers is absent for
five years, beneficiary can begin procedure, for
ct to make a determination of presumed death, per (e)
** below. After ct procedure & finding of sufficient evd to declare MisPers dead, then beneficiary would have a document (a ct order and/or death cert, I'm not sure in CO.) to send to w claim to life ins co.
BTW, life ins. claim is handled
separately from MisPers' probate proceeding, unless the MisPers'
estate is designated as policy's beneficiary. As always, I welcome comment, clarification, correction, esp'ly from our legal professionals. jmo
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Colorado Statute. 15-10-107. Evidence of death or status
"...relating to a court determination of death and status apply:...
* (b)... a death certificate ... is prima facie evidence of the fact, place, date, and time of death and the identity of the decedent.
(c) ... any record ...of a governmental agency,... an individual is missing, detained, dead, or alive is prima facie evidence of the status ... dates, circumstances, and places disclosed by the record or report.
(d) ...absence of prima facie evidence of death [...(b) or (c)...] (1), the fact of death shall be established by clear and convincing evidence, including circumstantial evidence.
** (e) An individual [whose death is not established ...(a) to (d) or ...] who is absent for a continuous period of five years, during which he or she has not been heard from, and whose absence is not satisfactorily explained after diligent search or inquiry, is presumed to be dead. His or her death is presumed to have occurred at the end of the period ...." bbm ubm rbm