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 [...]

What Are The Options For Life Insurance Settlements?

Usually, a life insurance policy will provide you, the policyholder, with more than one option in addition to your beneficiary receiving a single lump cheque or even a chequebook instead of a single lump check. Another option is to provide the beneficiary of the policy with the right to receive monthly payments for the rest [...]

Will A Beneficary That Receives Social Security, Have Their Income Affected If They Receive A Payment?

When a beneficiary receives a payment from a life insurance policy it will not compromise their Social Security benefits. A payment of a life insurance policy is not considered taxable income. Therefore, payments cannot be decreased because someone was the recipient of a life insurance payment. As an additional note, people who receive a life [...]

Are There Different Ways Life Insurance Benefits Can Be Received?

When collecting a life insurance policy, one must decide what you would like for the proceeds of the policy to accomplish. The proceeds of the policy are many times referred to as the death benefit. Is the death benefit, simply designed to bury the deceased and pay off a few final debts, or is the [...]

How Do You Go About Filing A Life Insurance Claim?

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 [...]

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 [...]