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Sometimes the lack of communication in the family on issues related to death, money or financial products inherits problems when facing the death of a member who did not disclose or report the purchase of insurance.

According to the General Insurance Law, 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 relative 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 Users of Financial Services (Condusef), has a microsite where you can investigate this information.

According to information from the site, from 2020 to October 2021, the number of people who died from all causes in Mexico exceeds 2 million 80,489 deaths, of this number 297,027 were deaths confirmed by Covid, this figure at closing of January 18 adds 301,789 cases.

Until 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 microsite for the search request for Life Insurance Insureds and Beneficiaries (SIAB-VIDA), anyone who wants to investigate whether they are the beneficiary of a life policy can enter the required documentation and obtain, within a period of 30 business days is information.

The data needed to know if someone 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 carried out through a proxy or legal representative, you must have the document stating 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 of who presumes to be a beneficiary and of the person who owns the life policy.

Until before the pandemic, this procedure could be carried out in the Condusef delegations, however, due to the recommendations implemented by the health authorities to contain the effects of the Covid-19 virus, this procedure is now by email ([email protected] ) or directly on the page

Once the request for information has been resolved, the interested party and holder of the benefit may contact the insurer where the insurance was contracted and process its compensation.

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