Insurance companies exist all over the world, and provide a wide range of different services and contracts.
Life insurance is one of the major types of insurance that is regularly available, and is offered by the majority
of dedicated insurance firms.  Life insurance is a contract between a policy holder and an insurer, where the
later party agrees to pay a sum of money to the former party on the occasion of death or other noted event. 
Before an insurance company is able to make a payment to a beneficiary they require proof of death, normally in the
form of a death certificate or other official documentation.  Because all insurance companies deal with the
management of death certificates in a different way, there is often some confusion regarding when a death
certificate is required and how long it is kept by an insurance firm.

In a normal case scenario, an insurance company will obtain a death certificate through official channels, in
order to prove the death of an individual.  The certificate that is submitted to them is then used to prove
the validity of the insurance claim, and becomes an integral part of the individual case documentation.  The
death certificate is an important part of the claim file, and is strong proof that a proper investigation has been
carried out.  While it varies from country to country, some insurance firms will keep hold of a death
certificate for an indefinite period, especially when multiple copies are available through official
channels.  Even those companies that do not keep hold of a certificate forever may hold it for at least 7
years, and sometimes much longer depending on the specific case.  Even when the original death certificate is
returned or destroyed, most companies will keep an electronic copy of a death certificate for ever.

Many life insurance claims have a statutory period that allows for legal challenges and law suits to take place,
and this period differs between different parts of the world.  Exactly how long a life insurance company keeps
a death certificate is related to the length of this period, although it is not always defined by it.  It is
impossible to say exactly how long a life insurance company will keep hold of a death certificate, although it is
likely to be a time period which is measured in years and not months.  Other factors under consideration
include whether or not multiple copies of a death certificate are available in a particular region, and whether any
other people or authorities are interested in obtaining a copy of the certificate.

http://en.wikipedia.org/wiki/Health_Insurance_Portability_and_Accountability_Act