Speedy Payment

Death claim partial advance payment (Speedy Payment) guidelines

The following overview explains the conditions and eligibility for requesting a death claim speedy payment for life insurance.

A speedy payment of a partial amount equal to 50% of the death benefit after any loans are deducted (maximum $50,000) may be available prior to the submission of death claim forms.

The following conditions determine whether the policy is eligible for a speedy payment:

  • No advances are available on Accidental Death Benefits.
  • A speedy payment must be requested by you, the advisor.
  • You are not aware of anything that might preclude the payment of the proceeds to the named beneficiary.
    • A questionable beneficiary designation or death as a result of the suspected foul play disqualifies this payment.
    • An out-of-country death claim may also preclude payment.
  • The beneficiary must be capable of making a claim. The beneficiary cannot be a minor, mentally incompetent, or otherwise incapable of dealing with his or her interest in the policy.
  • For individual insurance, the policy must have been in force continuously for more than 5 years preceding the death.
  • If the policy is tax sheltered and the beneficiary is a spouse, a speedy payment is not available.
  • The policy cannot be collaterally assigned.
  • The beneficiary must be a Canadian resident. 

To request a speedy payment, complete the appropriate selection through the eClaim submission.