 Posted: Thu Sep 11, 2008 6:53 pm Post subject: |
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Hello Fatman(feel uncomfortabel calling you that because you probably look like Arnald in his day)
Anyway, I would like to comment on your thoughts of what an insurance company is suppose to do. An insurance company will only escheat life insurance claim to the government when the insured reaches close to the mortality table age of 90-95. So unless the deceased was that age there will not be any record in the state. Also the insurance company will not try to find the beneficiary unless they know that the insured has died. Unless they contact the beneficiary everytime someone stops paying their premiums to find out if the insured died or simply no longer wants the policy, they will not look for the beneficiary. It is so important that the insured keeps the beneficiary informed of the company name that they have life insurance with because the only way the insurance company will know that the insured died is if someone tells them.
Also if it was a term policy and the insured person died before the term ended and then stopped paying the premiums, the insurance company will never escheat that to the government because they will just assume that it is a policy that lapsed.
Again the only way of finding one is knowing the company name. You can assure this by registering the company name with http://www.findyourpolicy.com |
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FindYourPolicy
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