Who is Condusef and Why is This Relevant?
Condusef, the National Commission for Provisional Protection and Financial Services, is a Mexican government agency responsible for protecting consumers’ rights in financial services. Their SIAB VIDA system has become increasingly important as more families seek to confirm if their deceased loved ones had life insurance policies and who the beneficiaries are.
Understanding SIAB VIDA
The SIAB VIDA system is a tool provided by Condusef that allows users to determine if someone was a beneficiary of a life insurance policy. This process becomes crucial when dealing with the death of a loved one and uncertainty about whether they had life insurance or who the beneficiaries are.
How to Use SIAB VIDA
- Access the SIAB VIDA microsite and complete the request form available on their website.
- Attach a copy of your valid official ID and the death certificate of the deceased.
- If the request is made by a legal representative, include documentation proving their authority.
- For minors, provide the minor’s birth certificate and the parent, guardian, or tutor’s official ID.
Rising Queries and Prescription of Life Insurance Policies
In the first two months of 2025, Condusef received 33,175 requests to investigate if someone was a beneficiary of a life insurance policy. This represents a 3.2% increase compared to the same period in the previous year, reflecting growing interest from families seeking financial relief after losing a loved one.
It’s important to note that life insurance policies can prescribe if the insured person passes away and the claim is not filed within five years of their death, according to the Insurance Institutions Law.
SIAB VIDA Requests Since the Pandemic
Five years after the onset of the COVID-19 pandemic, which claimed over 334,818 lives in Mexico according to the World Health Organization, more than 1,004,877 people have requested Condusef to investigate if they are beneficiaries of a life insurance policy.
From 2020 to the first two months of 2025, Ve por Más was the institution with the most consultations, as per Condusef data.
Key Questions and Answers
- What is SIAB VIDA? It’s a system by Condusef that helps confirm if someone is a beneficiary of a life insurance policy.
- How do I use SIAB VIDA? Complete the request form on their website, attach your valid ID and the deceased’s death certificate.
- Can life insurance policies prescribe? Yes, if not claimed within five years of the insured person’s death.
- How many people have used SIAB VIDA since the pandemic? Over 1,004,877 people have requested Condusef to investigate their potential beneficiary status since the pandemic began.
- Which institution has had the most SIAB VIDA consultations? Ve por Más has reported the highest number of consultations from 2020 to the first two months of 2025.
