Sometimes the lack of communication in the family over issues related to death, money or financial products inherits problems when facing the death of a member who has not announced or reported the purchase of insurance.
According to the General Insurance Act, the beneficiaries of a life policy have up to five years to claim compensation from the insurer, if they do not do so within that period, they lose this benefit.
If they suspect that a deceased family member had life insurance from their employer or one linked to a financial product or service, but they do not know with which insurer or who the beneficiary was, the National Commission for the Protection and Defense of Financial Services Users (Condusef) has a micro-website where you can research this information.
According to information from the coronavirus.gob.mx site, from 2020 to October 2021, the number of people who died from all causes in Mexico exceeds 2 million 80,489 deaths, of which 297,027 deaths were confirmed by Covid, this figure at the January 18 closure adds 301,789 cases.
As of December 2021, insurers had paid 31.108 million pesos corresponding to 135,116 life insurance policies of people who died from SARS-COV2, according to data from the Mexican Association of Insurance Institutions (AMIS).
Through the Condusef Life Insurance Insureds and Beneficiaries Search Request Micro-Site (SIAB-VIDA), anyone wishing to investigate whether they are the beneficiaries of a life policy can enter the required documentation and provide information within a 30 working day period.
The data required to know whether a person is a beneficiary of life insurance are: a copy of the official identification of the applicant and a copy of the death certificate, if this procedure is to be performed by a proxy or legal representative you have the document to state their power or representation.
In the case of minors represented by their parents, a copy of the birth certificate, if they are in charge of their grandparents, a copy of the birth certificate of the girl or boy and the death certificates of the parents.
This information must be accompanied by a format called SIAB-VIDA Application where personal data must be entered from who is presumably a beneficiary and from the person owning the life policy.
Until the pandemic, this procedure could be performed in the Condusef delegations, but due to the recommendations implemented by the health authorities to limit the effects of the Covid-19 virus, this procedure is now by e-mail (siab .vidadef @ condusef) .gob.mx) or directly on the page https://phpapps.condusef.gob.mx/SIAB-Vida/form-SIAB.php.
Once the request for information has been resolved, the interested party and holder of the benefit can contact the insurer where the insurance was contracted and process the compensation thereof.
Reference-www.eleconomista.com.mx