For a select group of individuals, working hard for a living is too difficult. These fraudsters would prefer to “get rich quick” through more devious and expedited means. Faking their deaths, they collected hundreds of thousands of dollars in life insurance and lived happily ever after — almost. These insurance thieves were nabbed in the [...]
Archive for the ‘Life Insurance Claims, Collecting, & Cashing Out’ Category.
If you are the beneficiary listed on a life insurance policy, it is important that you contact the nearest office of the insurance provider. You can visit the office in person in order to file a claim, or give the company a call for the proper instructions if the insurance company does not have an [...]
Immediately after, the death of a loved one is certainly not a good time to make financial decisions, especially major ones. A few of the major life insurance companies have finally listened to the life insurance customers and advisors regarding this issue. The advisors are those that usually deal with the ones that are grieving [...]
When a close relative, like a mother or father, dies and their life insurance can not be found, many people are unsure of the next step. Unless you know specific information regarding their policy, like which company carried it and if the policy is still in force, there are a few different possibilities regarding the [...]
Policy owners do not have to worry about records concerning who is beneficiary because life insurance companies keep watch over the records. With this in mind remember, usually there will be no concern for who is entitled to the money should someone die. Life insurance usually does not go to debt collectors. For this reason, [...]
The first thing you need to do is determine if you have any physical evidence of the policy. Presuming that you can find some indication that the policy exists (e.g. summary paperwork, records of payment) and with which company you should contact the insurance company, promptly to inquire as to whether the policy has lapsed [...]
Benefits can be contested during certain events, such as children of the deceased, suspected murder of the policy holder, and all beneficiaries are deceased. 1. If all beneficiaries are deceased, this will create problems concerning who gets the money. Arguments can arise from this type of situation, especially if other relatives become involved. If children [...]
If you want a policy that has cash value, that plan will charge more in the early years than a term policy would. The life insurance policies would be comparable in the amount of life insurance. What happens to the extra money? It is invested and is used to establish the cash value, which will [...]
Is It Normal for Life Insurance Companies to Investigate The Validity Of A Death Benefits Collection, Thereby Delaying Benefits Payouts?
The insurance companies can take a while to award you the death benefits that you are entitled to. The national office and the local offices of a life insurance company sometimes have to investigate the passing of one of their clients. It happens to be a very normal process. Things can be worked out if [...]
Life insurance policies are sometimes complex legal documents. They have a few hidden protections that most outside of industry may not be aware of. One of these such provisions is known as the incontestability provision. This is what protects you from having your claims contested after a certain period of time. The incontestability provision also [...]