Settlers Life

Your Policy
Paying Premiums
Loans and Withdrawals
Death Claims
Settlers Life

Your Policy

How can I find out more about my policy? You can find out more about your policy by filling out our secure Policy Inquiry Form online, or by contacting our Policyholder Services department at 1-800-542-8711.

How do I change the ownership of my policy? To change the ownership of your policy, you need to contact the Policyholder Services department at 1-800-542-8711.

What is a beneficiary? The beneficiary is the person who will receive the proceeds of the policy upon the death of the insured.

May I have multiple beneficiaries? Yes, you may have more than one beneficiary.

Who can change the beneficiary? The owner of the policy is the only person who can change the beneficiary.

I want to change the beneficiary of my policy.

How can I update my name and address of record? You can update your name and address by downloading our Service Request form or by contacting our Policyholder Services department at 1-800-542-8711.

Premium Payments

How often do I need to pay my premium? Premiums can be paid monthly, semi-annually and annually, depending upon the policy. They can also by paid monthly by Electronic Funds Transfer (also called Pre-authorized Payment).

How do I change the frequency of my premium payments? To change the frequency of your premium payments, you need to contact the Policyholder Services department at 1-800-542-8711.

Can I have my premium automatically withdrawn from my checking account? Yes. To do this, you need to contact the Policyholder Services department at 1-800-542-8711 and they will send you the necessary form to complete and return with a voided check.

Why choose Electronic Funds Transfer? Electronic Funds Transfer provides an easy method of payment. Your authorization allows Settlers Life to withdraw your payments directly from your account by electronic means.

What are the advantages of Electronic Funds Transfer? Since Settlers Life automatically withdraws the premium payments from your bank account as they come due, you significantly reduce the chance of an accidental lapse of your coverage. You also save postage and checking costs by not having to mail your payments.

Can I pay for more than one policy with Electronic Funds Transfer? Yes. The premium payments on any/all of your Settlers Life insurance contracts can be made through your account.

How does my bank account stay protected? Settlers Life guarantees that we will withdraw premium payments only as authorized by you. If we make an error, we will, upon notification of the error, make the proper corrections and advise your bank that it was our error. Your bank is also protected from loss due to our actions.

How do I change the deduction? When purchasing additional policies, premium payments can be added upon request. To change your current deduction, call us at 1-800-542-8711.

When can I cancel the Electronic Funds Transfer on my policy? You may cancel your plan at any time you wish. Simply notify us in writing, or call us at 1-800-542-8711. Your request must be received 30 days prior to the withdrawal date.

What happens if I change banks? You would need to submit a new authorization card along with a void check. Contact Policyholder Services at 1-800-542-8711 for more information.

Loans and Withdrawals

Can I request a loan on my policy? If you have a Settlers Life policy that permits a loan, you may be able to request a loan by contacting our Policyholder Services department at 1-800-542-8711.

Note: While policy loans from life insurance policies are generally not treated as distributions or subject to income tax. We suggest that you consult your tax adviser or attorney for advice on your specific situation.

Death Claims

How do I file a death claim? Please call our Claims Department, toll free, at 1-800-334-9607 to report the claim. Generally, you will need to provide us with a certified copy of the death certificate and the original life insurance policy.

How long does it take to process a claim? Claims are usually paid within 10 working days from receipt of all required documents.

Do you want to know more about Settlers Life? Visit our Meet Our People Page to look at our ratings, read about our financial status, find out about the contributions Settlers Life is making to your community, and more!

Did you not find what you were looking for? Please call our Policyholder Services department at 1-800-542-8711, or send us an email.