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 Posted: Wed Jul 28, 2010 6:58 am Post subject: My father worked for a company called Equipment Sales in Pho |
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| My father past away on July 11th, 2010, he had no life insurance policy that I know of, although he worked for a company as a parts department manager for 35 years in Phoenix, AZ, and I would think that he would have had a policy through them. The company did go out of business about 10 years ago or so and I don't know how I could find out. Please let me know if there is any way of finding out or not? Thank You |
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sharonhollon
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| Posted: Wed Jul 28, 2010 11:35 am Post subject: |
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| Quote: | | The company did go out of business about 10 years ago or so |
I think you've answered the question. When an employer provides life insurance benefits to its employees, it is usually term life insurance. If the company goes out of business, they stop paying premiums and the insurance ends. Employees are usually given an opportunity to convert their group coverage to an individual policy.
So while I can express condolences for your loss, I doubt that your father was covered by any employer-sponsored life insurance at the time of his death.
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MaxHerr
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| Posted: Thu Jul 29, 2010 1:18 am Post subject: |
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This one could be a bit tough. Unless you truly think there is something out there, I'd caution you against spending too much time trying to find something. The normal methods of finding a policy are somewhat limited. A check with the MIB would prove useless since convertible term from a group policy is usually guaranteed issue and so no MIB entry would exist.
Best bet is to go through documents and look for any evidence of a policy issued. Outside of that, nothing.
Again, one of the many great reasons to have everything in order for people to find and use. |
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BNTRS
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| Posted: Thu Jul 29, 2010 4:20 pm Post subject: |
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| Quote: | | term from a group policy is usually guaranteed issue and so no MIB entry would exist. |
According to the MIB, they only maintain information on individual life life and disability applications. No group policy/application info at all -- GI or otherwise.
_________________
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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| Posted: Sat Jul 31, 2010 3:04 am Post subject: |
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| Exactly, my point was that there's no MIB entry for a policy from group insurance, and since it's converted from the group policy, there's still no entry. |
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BNTRS
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