Can a beneficiary claim the insurance policy if the insurance policyholder has been missing for multiple years?

The concept of adding a beneficiary and an insurance policy was introduced to deal with these types of cases when the insurance policyholder died suddenly or has been missing for multiple years. So, yes, a beneficiary can claim the insurance policy if the insurance policyholder has been missing for multiple years, but a few conditions must be fulfilled.

These conditions are as follows:

• First, the beneficiary must have a court declaration stating that the policyholder has been missing for multiple years (more than seven years).
• Second, the person must have been announced legally dead