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 Posted: Sun Nov 04, 2007 4:47 am Post subject: life insurance payout on missing person |
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| This is something that I've always wanted to know. I'm not sure if the answer is state specific or not, but how long deos a person have to be missing before a life insurance company will pay a death claim?? |
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knig188
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Joined: 04 Nov 2007
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| Posted: Sun Nov 04, 2007 9:48 am Post subject: |
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| That's a good question, I personally don't know, but there are a few life ins experts here and hopefully they will comment. Wonder if a person is in 'missing' status if they must be 'declared' dead before any type of death benefit would pay (SS-retirement etc). Is that seven years for that? |
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Lori
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| Posted: Mon Nov 05, 2007 7:32 am Post subject: Seven years.....I guess |
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Right, I too think it is seven years before the missing person can be declared ‘dead' and his/her life benefits are paid towards the beneficiaries.
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Dazzlingdiamond
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| Posted: Mon Nov 05, 2007 8:40 am Post subject: |
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Hey, have you faced any such problem? Well, the statutory limit of declaring one missing person ‘dead' is seven years. However, sufficient circumstantial evidence needs to be placed before the court of law to declare the person dead before the time period lapse.
Although, there is no unanimity among the legal bodies upon evidences that are to be counted as circumstantial evidences but the following situations are likely to qualify:
- When the age of the insured is likely to cross the limit of any human survival.
- When the possibilities of the insured getting involved in any danger are high.
- When the insured was suffering from deteriorating health status at the time disappearance.
- When the insured is inconsistent with his/her behavior.
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| Posted: Fri Aug 06, 2010 10:44 pm Post subject: |
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george l fisher
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george lfisher jr
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| Posted: Sat Aug 07, 2010 5:19 pm Post subject: |
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| Quote: | | how long deos a person have to be missing before a life insurance company will pay a death claim?? |
The answer is:
As long as it takes to obtain a death certificate.
The City of New York did the "right thing" following the Sept 11 attacks, and very quickly issued death certificates to anyone who could show a reasonable likelihood that someone who worked in the WTC buildings (or were on the ill-fated aircraft) had died, even though their deaths had not yet been proved.
State laws vary, and the "seven years" business is not necessarily correct. What is correct is that a court may, upon a satisfactory showing of evidence, declare a person "dead" and judicially order a death certificate be prepared. That could take a few months to several years.
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MaxHerr
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| Posted: Tue May 10, 2011 4:10 pm Post subject: My wife is a missing person |
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My wife is on national "Missing Persons" list, and has been since 02/03/2006. When she disappeared, she worked for the State of Florida, where she had the life insurance policy they offered. When and how do I get her declared deceased? Will I still be able to file a claim on this life insurance policy if she is declared deceased
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jagisme1210
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| Posted: Tue May 10, 2011 4:36 pm Post subject: |
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You will have to petition the court for a declaration of death. Once that petition is granted, a certified copy of the court order may be presented to the insurance company for payment of the death claim. The death claim is payable (with interest back to the "date of death") as long as the policy was in force at the time of the insured's death. It will be important for the court to establish the date of death as close to the day of disappearance as possible to avoid any issues concerning the policy being in force.
Until you can provide legal proof of death, however, no claim is payable.
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CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers. |
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MaxHerr
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