I recently found out that my mother left me a whole life pol

by gloriaaaron78 » Thu Nov 01, 2012 12:59 pm

I recently found out that my mother left me a whole life policy. She died in 1995. They sent me a check, but the interest was only for 2 months. Shouldn't it be from 1995 until now?

Total Comments: 3

Posted: Thu Nov 01, 2012 03:47 pm Post Subject:

She died in 1995. They sent me a check, but the interest was only for 2 months. Shouldn't it be from 1995 until now?


In what state did your mother die? Almost all states have laws that require payment of interest on life insurance proceeds from the day of death when not paid within 30 to 120 days. You are most likely owed about 17 years of interest.

There is another larger issue at stake however. What insurance company is involved? A number of large insurance companies have been paying large MULTIMILLION DOLLAR legal settlements to the various states, including California and Florida, for their failure to pay death claims when they were aware of the deaths of their insureds. SEE MY NEW POST HERE (following your post in the Life Insurance Forum): http://www.ampminsure.org/community/posting.php?mode=editpost&p=111538

Insurance companies use the Social Security Death Master Index to discover when their annuitants die so they can stop paying lifetime annuity benefits. As a result, the also learn of the deaths of their life insurance customers. State laws require that unclaimed death benefits be escheated to the state after a certain number of years. And the insurance companies were not doing that either.

You may have the basis for a class action lawsuit, but at the very least you are entitled to many years' worth of interest on the death proceeds . . . not a mere two months.

Use the email link below to contact me for more information and assistance.

Posted: Fri Nov 02, 2012 09:32 am Post Subject: lost life insurance

I completely agree with Max on this point. You're entitled to receive the interest payouts on the death benefits.


Must have been a nice surprise, right?

And, MAX

What link have you posted?

Posted: Fri Nov 02, 2012 09:48 am Post Subject:

You can check out this blog article (posted on July 31) as well, which I found on this site.

What to do when a lost life insurance comes your way
www.ampminsure.org/blog/what-to-do-when-a-lost-life-insurance-comes-your-way/

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