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How Long Does It Take to Collect Life Insurance? Once a valid claim has been made, it will typically take between 14 and 60 days to receive the payment from the insurance company, and usually it occurs within 30 days.

Depending on the insurer, a life insurance payout can typically be distributed in three ways: in the form of a lump sum, via a life insurance annuity, or through a retained asset account.

Only one policy withdrawal/partial surrender is allowed per policy year. Minimum withdrawal amounts apply as stated in your policy contract. There will be a processing fee as stated in your policy contract. Policy withdrawals/partial surrenders are available on universal life policies only.

Life insurance providers usually pay out within 60 days of receiving a death claim filing. Beneficiaries must file a death claim and verify their identity before receiving payment. The benefit could be delayed or denied due to policy lapses, fraud, or certain causes of death.

Only one policy withdrawal/partial surrender is allowed per policy year. Minimum withdrawal amounts apply as stated in your policy contract. There will be a processing fee as stated in your policy contract. Policy withdrawals/partial surrenders are available on universal life policies only.

Colonial Life allows customers to file claims through the official website or via fax at any time. However, the carrier does not provide a specific claims response time frame promise. They do state that customers can access their benefit payouts within 48 hours if they've signed up for direct deposit.

How can I view the status of my claim? To view your claim, click log in in the upper right-hand corner of the page and enter your login information. Once logged in, recent claims will be available on the home page, or you can access it via the Claims Center.