177.0211 Knowledge of death of insured or annuitant.

215 words·~1 min read·/wi/chapter-177/177-0211-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)In this section, “death master file” means the federal social security administration death master file or other database or service that is at least as comprehensive as the federal social security administration death master file for determining that a person has reportedly died.

(2)With respect to a life or endowment insurance policy or annuity contract for which an amount is owed on proof of death, but which has not matured by proof of death of the insured or annuitant, the insurance company has knowledge of the death of an insured or annuitant when any of the following occurs:

(a)The insurance company receives a death certificate or court order determining that the insured or annuitant has died.

(b)The insurance company or other person validates the death of the insured or annuitant by its performance of due diligence, as required under ch. 632 or other law, to maintain contact with the insured or annuitant to determine whether the insured or annuitant has died.

(c)The insurance company compares for any purpose a death master file with the names of some or all of the company’s insureds or annuitants, finds a match that provides notice that the insured or annuitant has died, and validates the death.