by Needinghelp » Tue Apr 14, 2009 06:38 pm
Grandma died 8 yrs ago and had been married 5 times during her lifetime. All of her husbands and her only child are deceased as well. I just found out that a life insurance policy of hers has never been claimed. I am her only living heir. Am I entitled to claim the policy? And if so, will it be paid to me or to her estate? I have asked the insurance company who the primary beneficary was and I was told that they can't locate the original file. However, they did ask if she was married at the time of her death and asked me to provide death cert's for both her and her husband.
Also, how would I go about finding out if there were other policies out there that are unclaimed as well?
Also, how would I go about finding out if there were other policies out there that are unclaimed as well?
Posted: Wed Apr 15, 2009 06:10 am Post Subject:
Ideally the beneficiaries receive the death benefits of the deceased and in absence of the primary beneficiary the benefits would come to the secondary beneficiary or the contingent beneficiary, or the proceeds would go to the estate of the deceased if there is no named secondary beneficiary as well. Hence you may need to know whether there is a secondary beneficiary named in the policy document or not. If there is one and he/she is alive then that person would come next in the line of claiming the benefits.
BTW, how do you come to know about the policy? Are you certain that no claim was made against the plan?
Posted: Wed Apr 15, 2009 06:48 am Post Subject:
Also, how would I go about finding out if there were other policies out there that are unclaimed as well?
This has been discussed in the community before as well. Normally, you have search through the papers and documents maintained by the deceased, she must have maintained the policy papers somewhere.
Your next step should be to ask her surviving relations and friends if they know anything about her life plans.
Also you may ask the insurance company that she had the policy with if they have more business from her.
However, let me tell you that after all these time your search can be really futile. There is a high possibility that the policies had been paid up and enjoyed by the holder. But its worth risking the chance.
Thanks,
Rupert
Posted: Wed Apr 15, 2009 07:07 am Post Subject:
Hi,
If there is one and he/she is alive then that person would come next in the line of claiming the benefits.
Again he could be followed by a tertiary beneficiary (if any). Well, about locating a policy you may go through the following thread-
http://www.ampminsure.org/life/finding-policy.html
Steven
Posted: Wed Apr 15, 2009 04:17 pm Post Subject:
I was cleaning out a closet and found a business card holder and in it a business card for a life insurance company. I called the number on the card and gave them her info and they said that she has an unclaimed policy and asked if I'd like to claim it.
Posted: Thu Apr 16, 2009 12:10 am Post Subject:
Well i think if you go by a proper way then you can claim for the policy.
First you have to make some more efforts for finding out all the other documents and premium that your grandma had made to the company.
Atleast you can get a insurance number for the policy and search through the company records.
Then you have to collect her death certificate and also her relatives death certificate as well so you can get even more all the plans and money you will get.
Usually the money go to the nominaee in such cases but as you say all are deceased and you are the only one then you have to prove that to the company with all the death certificate of the otheres too.
I hope it will help you out there.
best regards,
-shadowking
Posted: Thu Apr 16, 2009 01:01 am Post Subject:
If her husband (at the time) was named the beneficiary and he pre-deceased her, then you should be able to claim this by proving he is in fact deceased. If the contingent beneficiary was her child and you are the child of her child, this should be quite easy as it is called "per sterpes". Meaning basically it passes down the line. Now, if her deceased husband passed away after her and he never made the claim, then if would more than likely pass on to his heirs.
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