Under the Consumer Protection Code, how many business days does a life company have to issue a claim form after notification of a death?

Under the Consumer Protection Code, a life company is required to issue a claim form within five business days after notification of a death. This timeframe ensures that beneficiaries are provided with timely access to the necessary documentation to initiate a claim for benefits. The purpose of this regulation is to protect consumers during a difficult time and to facilitate the prompt settlement of claims. Timely communication and responsiveness from life companies help in building trust and ensuring that the claims process begins as smoothly as possible. Knowing this timeframe is crucial for both insurance providers and policyholders, as it sets clear expectations for the claims process following a death.