Question

20 jay was unaware that he was the beneficiary of his grandmothers $500,000 life insurance contract. two years after her death, he gets to know about the policy through the agent. jay is not sure if he will receive the death benefit if he makes a claim now as he feels that it is already too late. the agent should let jay know that the claims examiner will approve the claim only if:
options:
a. the claim was made within three years after the death of the life insured.
b. the policy was in force at the time jay made the claim.
c. the policy was valid at the time of his grandmothers death.
d. jay can provide a reason with proof for the delay in making a claim.

Explanation:

To determine when a life insurance death benefit claim is approved, a key factor is the policy's status at the insured's death. For option a, the time to file (3 years here, 2 years elapsed) isn't the sole approval factor. Option c focuses on claim - filing time, not policy validity at death. Option d is about justifying delay, not the core approval condition. The critical point is if the policy was in force (active) when the insured (grandmother) died, which is what option b states.

Answer:

b. the policy was in force at the time of his grandmother's death