| Message |
Author |
|
 Posted: Wed Sep 21, 2011 5:50 am Post subject: How can I collect life insurance money? |
|
|
I’m trying to collect a life insurance claim from my grandparents who died 2 years ago, they had it in an account I couldn’t access until I am 18. I’m 17 and I don’t know how to find the bank the account it was in... I am feeling completely helpless. Can anyone please help?
_________________
Register Now to have your Insurance queries solved. |
|
Coolcollege
Guest
|
|
| Posted: Wed Sep 21, 2011 6:52 am Post subject: |
|
|
As far as I can follow, it was a kind of trust, and you can’t collect it as a minor.
The money would be either collected by your guardian or it’ll be paid to you, when you become an adult.
To know about it though, you may ask the executor of their estate. The executor would probably be one of your uncles/aunts. Or you may try to consult your grandparents’ attorney regarding the procedure. |
|
Monawayne
Preferred member
Joined: 12 Sep 2011
Posts: 119
Location: Arizona
11.98 Dollars($)
|
|
| Posted: Wed Sep 21, 2011 1:30 pm Post subject: |
|
|
| Quote: | | The money would be either collected by your guardian or . . . |
The money is not "collected" by a guardian. If it was paid into a trust account, the trustee of that account may access the money for the direct benefit of the minor. The child's guardian may or may not be the trustee.
Is it also possible that the insurance proceeds are still being held by the insurance company (and earning a nominal rate of interest). If the instructions to the insurance company were to release the money to the child at age 18, that's when it will happen. Not before.
_________________
CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers. |
|
MaxHerr
Moderator
Joined: 29 Nov 2009
Posts: 4622
Location: Pomona CA
209.53 Dollars($)
|
|
| Posted: Fri Jan 06, 2012 10:25 am Post subject: claim |
|
|
i had aflac some years back an never used it can i get that money back
_________________
Register Now to have your Insurance queries solved. |
|
tina&3
Guest
|
|
| Posted: Fri Jan 06, 2012 11:44 am Post subject: |
|
|
NO. AFLAC does not sell products with a cash value provision. You pay premiums for coverage one year at a time, and you either use the benefit, or life is GOOD and you don't need the insurance. But at least you had the peace of mind at the time knowing you were covered.
_________________
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. |
|
MaxHerr
Moderator
Joined: 29 Nov 2009
Posts: 4622
Location: Pomona CA
209.53 Dollars($)
|
|
