Archive for the ‘Life Insurance Claims, Collecting, & Cashing Out’ Category.

Faking Death: A Growing Insurance Scam?

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 [...]

Can I Defer Receiving Benefits From a Life Insurance Policy?

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 [...]

How to Resolve a Missing Insurance Policy After A Relative’s Death

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 [...]

Can a Debt Collector Obtain Life Insurance Policy From The Deceased?

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, [...]

If A Family Member Dies And I Don’t Have The Policy Information, Can I Still Collect On It?

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 [...]

Can Life Insurance Benefits Be Contested With Certain Events?

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 [...]

What Is A Life Insurance Cash Value Plan?

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 [...]

Does Your Life Insurance Policy Include Incontestability Protection?

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 [...]

What Are My Options Regarding Collecting on the Death Benefits Of A Life Insurance Policy?

After a member of my family died, I received correspondence from the insurance company asking me to allow them to hold the money from the policy in a special fund. According to them, this way I would have the option to be able to write out cheques against the funds when I needed to. Is [...]