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How to know if you are the beneficiary of a deceased relative in a bank account or life insurance

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When a family member dies, what regularly has one less in mind is the money from your bank accounts or if there is any life insurance in your nameand as on many occasions, the lack of knowledge of the relatives of some of these products means that the resources are lost without being used.

Therefore, the Condusef has tools to support the population to prevent money from being lost, and that we bring you today in Unotv.comsince by their nature these can only be delivered at the request of the beneficiaries and after the delivery of various documents.

And it is that, according to the College of Notaries, in 2021 only 1 out of every 20 Mexicans had a will, while the Ministry of the Interior points to the 4% of the population with the process, so on many occasions people do not know if the deceased relative has any of these instruments.

In one or two months you will know if your deceased relative left money. Photo: Cuartoscuro

How do I know if I am a beneficiary in a bank account?

Although when a close relative dies, be it one of the parents, siblings or partner, we will have the card, on many occasions we do not know the ATM PIN to withdraw the money, and in the bank, although they do deliver the resources that were paid, they only give it to the beneficiaries left by the owner account holder.

To do this, the National Commission for the Protection and Defense of Users of Financial Services (Condusef)in conjunction with the Association of Banks of Mexico (ABM)developed a service scheme for users of financial services that investigates and verifies the registration of a person as a beneficiary in bank accounts of 24 affiliated institutions, a search that is carried out in less than 60 calendar days.

To do this, you only have to go to one of the Condusef User Service Units and prepare an Application for Beneficiaries of Deposit Accounts, with which the following documents must also be submitted:

  • Simple copy of death certificate of the account holder (issued no more than five years after the request)
  • official identification current of the applicant.

Once the process is done, all you have to do is wait until 60 calendar daysin which the commission will respond, through traditional or electronic mail, with the name of the institutions with an account in the name of the deceased so that the relative requests the resources directly with them, while, if not registered, the response will be only “No information located”.

How do I know if I am a beneficiary in any life insurance?

On the other hand, in the case of life insurance, the situation is a little more complicated, since in most cases the contracting parties do not inform their beneficiaries of these and, when they die, they do not always have the policies stored in a place accessible, or not up to date.

That is partly where the importance of Request to search for Insureds and Beneficiaries of Life Insurance (SIAB-VIDA) of the Condusef, since it avoids the relatives having to go to all the insurers to request the information, in addition to the fact that many times it is not known if there are, or the number, of the policies of the deceased relative.

To do this, the commission has three ways to carry out the process of searching for policies, these being through email, online or in person, with a term, in all cases, of 30 business days On the date of the request, while if the investigation is positive, the Condusef will inform the name of the insurer and the validity and number of the policy.

In the first cases, they will request to fill out and sign the form available through the link: https://phpapps.condusef.gob.mx/condusefenlinea/formatosTramite/f_siabvida.pdf

Email

In case of deciding on this option, the family member who you consider could be a beneficiary in some insurance must send in Pdf format the following documents to the email: [email protected]

  • Form “SIAB VIDA application” filled out and signed:
  • Official identification of the applicant
  • Death certificate of the probable insured
  • In the case of a proxy, attach the document stating the power of attorney or representation
  • In minors, a copy of the minor’s birth certificate or a copy of the appointment, acceptance and/or discernment of the position, if applicable, in addition to the official identification of the father, mother or guardian

Face-to-face

If you better choose the face-to-face form, you should go to the entity’s User Service Unit, which can be located in this linkand submit:

  • Completed and signed application form
  • Copy of the valid official identification of the applicant
  • Copy of the death certificate of the possible insured
  • In the case of a proxy, attach the document stating the power of attorney or representation
  • In minors, a copy of the minor’s birth certificate or a copy of the appointment, acceptance and/or discernment of the position, if applicable, in addition to the official identification of the father, mother or guardian

Online

On the other hand, since the pandemic COVID-19 the Condusef activated a virtual platform in which users can carry out the procedure in order to avoid transfers and concentrations in their units, to which you can access through this link.

There, a form will appear for the following data:

  • Personal data of the applicant or possible beneficiary
    • Kind of person
    • curp
    • RFC
    • Full name
    • Date of Birth
    • Relationship or legal interest
  • Address to receive notifications
    • Address
    • Landline
    • Mobile phone
    • Email
  • Representative details
  • Personal data of the insured
    • curp
    • RFC
    • Full name
    • Date of Birth
    • Date of death
    • Place of death
  • Addresses
    • Last address of the insured
    • previous address
  • Data of the employer or insurance contracting party
    • Kind of person
    • curp
    • RFC
    • Full name
    • Date of Birth
  • Address of the employer or insurance contracting party

Once the form is completed, it only remains to upload to the platform the files that are requested in the case of email and conclude the request, and then wait the 30 business days in which you will receive a message with the results of the procedure.

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