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 Posted: Mon Apr 19, 2010 3:30 am Post subject: Beneficiary changed |
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HELP,
My child's Dad died. We were stated beneficiaries. BUT, he went to a structured settlement payment company to try for a loan once. It all pended on court approval. But the court denied and "all agreements were not effective."
Still that loan company took and forwarded that agreement to take and change his beneficiary with some stamp and a mispelled name.
We are in CA with laws to protect our income.. But is it hard to tell the insurance company someone made a mistake?
They told me at the insurance company that they accept these changes all the time before any court approval. Seems shoddy to me.
Any Insurance legal department help to remedy this quickly would be a great help.
Thank You |
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SBCheek
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Joined: 19 Apr 2010
Posts: 2
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| Posted: Tue Apr 20, 2010 2:16 am Post subject: |
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It sounds as if your ex entered into a structure settlement agreement whereby he either borrowed against the death benefit or sold the policy to a structure settlement provider, and the court is telling you that this agreement is null and void. As well, you said that "some stamp" and misspelled names were used. Change of beneficiary and change of ownership issue almost always require the signature of the policyowner. Certain POAs can change this, but you didn't mention anything about one of those.
Had he received any funds from the settlement provider? If so, I can't see how a court could render that agreement void...kind of like closing the barn door after the horse has boogied.
This is pretty delicate legal ground. I think you need to lawyer-up based on your post. If you have any more info, let us know.
InsTeacher  |
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InsTeacher
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| Posted: Tue Apr 20, 2010 6:22 am Post subject: |
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I agree with InsTeacher . . . there is much more that needs to be uncovered, like the paperwork from the "structured settlement" company. Was the decedent in poor health? Was the "agreement" that was sent to the insurer a collateral assignment or a change of ownership?
Details are always helpful.
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MaxHerr
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| Posted: Thu Sep 29, 2011 7:03 pm Post subject: change my daughter settlement to my name |
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my daughter has a structure settlement and i do not recive anything from it it is sitting in a bank.it was from her wrongeful death.i do get a workmanship comp check,and i am not maken it to servive and they only for what they feel like it.i need to know how to get it in my name or get them to send me some money out of it cause if her father was here we would not be liven as popers.we were engaged.  thank you
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pita
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| Posted: Thu Sep 29, 2011 7:41 pm Post subject: |
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How would your daughter have a structured settlement from her own wrongful death? Please explain.
_________________
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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Joined: 29 Nov 2009
Posts: 4622
Location: Pomona CA
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