State RegulationsOH specificDifficulty 1/5
A beneficiary in Cleveland submits due proof of death on her father's individual life policy. Under the Ohio standard provisions, how quickly must the insurer settle the death claim?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
ORC 3915.05(K) requires death claims to be settled upon receipt of due proof of death or not later than 2 months after receipt of such proof. The statutory clock runs from receipt of the due proof, not from notification, the funeral, or the date of death. This deadline gives beneficiaries a firm outside limit while allowing immediate payment the moment the insurer is satisfied.
Why the other options are wrong
- A) The 15-day figure relates to acknowledging and furnishing claim forms, not to settling the death benefit under ORC 3915.05(K).
- C) The statute measures the deadline from receipt of due proof of death, not from the funeral; ORC 3915.05(K) allows settlement up to 2 months after that receipt.
- D) Six months far exceeds the outside limit; ORC 3915.05(K) requires settlement no later than 2 months after receipt of due proof.
Memory hook
Due proof in, pay now or within 2 months.