Okla. Stat. tit. 36, § 36-4030.1
This is the official text of Okla. Stat. tit. 36, § 36-4030.1, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Forms to establish proof of death and interest of
Official statutory text
claimant - Interest on proceeds - Payment of proceeds - Time -
Exemptions.
A. Within ten (10) days after an insurer receives written
notification of the death of a person covered by a policy of life
insurance, the insurer shall provide to the claimant the necessary
forms to be completed to establish proof of the death of the insured
and, if required by the policy, the interest of the claimant. If
the policy contains a provision requiring surrender of the policy
prior to settlement, the insurer shall include a written statement
to that effect with the forms to be completed. Forms to establish
proof of death and proof of the interest of the claimant shall be
approved by the Insurance Commissioner.
B. An insurer shall pay the proceeds of any benefits under a
policy of life insurance not more than thirty (30) days after the
insurer has received proof of death of the insured. If the proceeds
are not paid within this period, the insurer shall pay interest on
the proceeds, at a rate which is not less than the current rate of
interest on death proceeds on deposit with the insurer, from the
date of death of the insured to the date when the proceeds are paid.
Should the insurer hold its deposits in a noninterest bearing
account, the rate of interest to be paid shall be the same rate of
interest as the average United States Treasury Bill rate of the
preceding calendar year, as certified to the Insurance Commissioner
by the State Treasurer on the first regular business day in January
of each year, plus two (2) percentage points, which shall accrue
from the thirty-first day after receipt of proof of loss until the
proceeds are paid. Payment shall be deemed to have been made on the
date an electronic payment is made or the date a check, draft or
other valid instrument which is equivalent to payment was placed in
the U.S. mails in a properly addressed, postpaid envelope; or, if
not so posted, on the date of delivery of such instrument to the
beneficiary.
C. Subsection B of this section shall not apply to any life
insurance policy issued before October 1, 1978, which contains
specific provisions to the contrary.
Exemptions.
A. Within ten (10) days after an insurer receives written
notification of the death of a person covered by a policy of life
insurance, the insurer shall provide to the claimant the necessary
forms to be completed to establish proof of the death of the insured
and, if required by the policy, the interest of the claimant. If
the policy contains a provision requiring surrender of the policy
prior to settlement, the insurer shall include a written statement
to that effect with the forms to be completed. Forms to establish
proof of death and proof of the interest of the claimant shall be
approved by the Insurance Commissioner.
B. An insurer shall pay the proceeds of any benefits under a
policy of life insurance not more than thirty (30) days after the
insurer has received proof of death of the insured. If the proceeds
are not paid within this period, the insurer shall pay interest on
the proceeds, at a rate which is not less than the current rate of
interest on death proceeds on deposit with the insurer, from the
date of death of the insured to the date when the proceeds are paid.
Should the insurer hold its deposits in a noninterest bearing
account, the rate of interest to be paid shall be the same rate of
interest as the average United States Treasury Bill rate of the
preceding calendar year, as certified to the Insurance Commissioner
by the State Treasurer on the first regular business day in January
of each year, plus two (2) percentage points, which shall accrue
from the thirty-first day after receipt of proof of loss until the
proceeds are paid. Payment shall be deemed to have been made on the
date an electronic payment is made or the date a check, draft or
other valid instrument which is equivalent to payment was placed in
the U.S. mails in a properly addressed, postpaid envelope; or, if
not so posted, on the date of delivery of such instrument to the
beneficiary.
C. Subsection B of this section shall not apply to any life
insurance policy issued before October 1, 1978, which contains
specific provisions to the contrary.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.