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my father has a life insurance on me but he die

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Posted: Tue Jan 26, 2010 6:54 pm   Post subject: my father has a life insurance on me but he die   my father has a life insurance on me but he die and i would like to cash it in. what steps should i follow.	Vrhubbard44 New member Joined: 26 Jan 2010 Posts: 1 1.32 Dollars($)
Posted: Wed Jan 27, 2010 12:03 am   Post subject:    Call the carrier and ask them. You may not even be able to...if you are able to they will let you know what you need to do. _________________ "Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.	Lori Moderator Joined: 10 Sep 2007 Posts: 8173 Location: Missouri 287.90 Dollars($)
Posted: Wed Jan 27, 2010 12:40 am   Post subject:    Are you the insured? Are you now the owner? Are you the beneficiary?	InsuranceExpert Senior member Joined: 05 Apr 2009 Posts: 662 142.69 Dollars($)
Posted: Wed Jan 27, 2010 1:57 am   Post subject:    Since you state the policy is on you my guess is that you are the insured. Most likely, he was the owner and beneficiary of the policy. Here's the hook behind cashing it in. When your father originally established this policy he may have had the option to choose a secondary owner in the event of his death or incapacity. If he specified a secondary owner besides you then that person now owns the policy not you. Meaning all the money inside is theirs and premiums become their responsibility. You'll need to establish where ownership is supposed to go upon your dad's death before you can begin any process to end the policy and take the money.	BNTRS Senior member Joined: 05 Nov 2009 Posts: 828 13.02 Dollars($)

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