How to collect on a life insurance?
How to collect on a life insurance?
My daughter's grandmother left her 20K when she passed away.
She bought a life insurance and my daughter was the beneficiary.
My daughter's aunt had power of attorney when the grandma was in the hospital. She never gave me any information about the life insurance policy. I just have the name of the company. My daughter will be turning 18 in a few months and she needs this money to help pay for college. What can I do to find out the insurance policy etc.
She bought a life insurance and my daughter was the beneficiary.
My daughter's aunt had power of attorney when the grandma was in the hospital. She never gave me any information about the life insurance policy. I just have the name of the company. My daughter will be turning 18 in a few months and she needs this money to help pay for college. What can I do to find out the insurance policy etc.
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2 Responses
1.31.2010
If you have the name of the insurance company, then you need to call them directly to file the claim. You will need to obtain a certified copy of her death certificate. Neither the executor of the estate nor the aunt had any obligation to file this claim since the life insurance is not part of the estate nor does it go through probate. If the life insurance policy was in force at the time of the grandmother's death, the insurance company will confirm this to you without you looking for cancelled checks and they will give you the instructions on how to proceed with filing the claim.I hope this helps. Good Luck! Source(s): Certified Insurance Counselor, Licensed Insurance Agent & Broker for over 29 years.
1.31.2010
Power of attorney ceases the second Grandma dies. If Grandma REALLY left $20K when she died, it would have been paid out, if a claim was filed. It can't be intercepted, because the insurance company pays directly.You can call the insurance company, and ask them to mail you a claim form – but odds are, either the policy lapsed before grandma died, or your daughter wasn't the beneficiary any more. You don't need the actual policy in hand, to file a claim.You should probably talk to the executor of Grandma's estate – see if you can look at cancelled checks for the last year of her life. If the policy was still in force, she would have had to be paying for it. If/when she stopped paying for it, it cancels.