What Should be Done When a Pensioner Dies
The necessary forms
For any pensioners who have basic life insurance through Great- West Life, there is a $2,000 life insurance benefit payable to the person designated as the beneficiary. OPTrust will send the claim form to the person who is handling the estate. The executor or administrator must then mail the form to Great-West Life. They will then send a cheque to the beneficiary. It takes approximately three weeks for Great-West Life to send the basic life insurance cheque. If there is no named beneficiary on the policy, the benefit is payable to the estate.