{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-4030.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-4030.1","heading":"Forms to establish proof of death and interest of","body":"claimant - Interest on proceeds - Payment of proceeds - Time -\n\nExemptions.\n\nA. Within ten (10) days after an insurer receives written\n\nnotification of the death of a person covered by a policy of life\n\ninsurance, the insurer shall provide to the claimant the necessary\n\nforms to be completed to establish proof of the death of the insured\n\nand, if required by the policy, the interest of the claimant. If\n\nthe policy contains a provision requiring surrender of the policy\n\nprior to settlement, the insurer shall include a written statement\n\nto that effect with the forms to be completed. Forms to establish\n\nproof of death and proof of the interest of the claimant shall be\n\napproved by the Insurance Commissioner.\n\nB. An insurer shall pay the proceeds of any benefits under a\n\npolicy of life insurance not more than thirty (30) days after the\n\ninsurer has received proof of death of the insured. If the proceeds\n\nare not paid within this period, the insurer shall pay interest on\n\nthe proceeds, at a rate which is not less than the current rate of\n\ninterest on death proceeds on deposit with the insurer, from the\n\ndate of death of the insured to the date when the proceeds are paid.\n\nShould the insurer hold its deposits in a noninterest bearing\n\naccount, the rate of interest to be paid shall be the same rate of\n\ninterest as the average United States Treasury Bill rate of the\n\npreceding calendar year, as certified to the Insurance Commissioner\n\nby the State Treasurer on the first regular business day in January\n\nof each year, plus two (2) percentage points, which shall accrue\n\nfrom the thirty-first day after receipt of proof of loss until the\n\nproceeds are paid. Payment shall be deemed to have been made on the\n\ndate an electronic payment is made or the date a check, draft or\n\nother valid instrument which is equivalent to payment was placed in\n\nthe U.S. mails in a properly addressed, postpaid envelope; or, if\n\nnot so posted, on the date of delivery of such instrument to the\n\nbeneficiary.\n\nC. Subsection B of this section shall not apply to any life\n\ninsurance policy issued before October 1, 1978, which contains\n\nspecific provisions to the contrary.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"927af0dde5886ef9fc3eb1a0879b50859c7da6cd90fe020200227e53637a2d91","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-4030","next":"us-ok/okla.-stat.-tit.-36-36-4030.10"},"notice":"GroundRules: Original legal text. Not legal advice."}