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can insurance company do this

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Posted: Sat Jun 13, 2009 6:58 am   Post subject: can insurance company do this   i recently found policy my mother had purchased 4 months before she died. it was a 12 month term policy the premium paid at the time of purchase 04-04-02 i contacted the company who by now had been sold and purchased by another company. the first time i was told very rudely that they did not have record of it and did not have to keep records this far back. i said so this policy is no good because you don't have record them she says send us a receipt. i faxed the policy, application and receipt. i never got a return call so i called them and again i was told they could not find this policy because their records only went back to 2005 and statue of limitations does not require them to go back that far. i asked them if statue of limitations applied to filing a claim and was told they would have to do more research and a supervisor would return my call. well the next day a supervisor called me back and stated that they had records from Feb.2003 when they acquired the company and they had no record of the policy. she stated that the policy had either been paid or cancelled and the premium returned . i told her that i was the beneficiary and it had not been paid to me and then she said to call the funeral home they may have got the benefit i told her that i had receipts showing my mothers funeral had been paid in full by her family and how could it have been paid when i just found the policy in a box 7 years after she died. i asked her to prove to me that this had been paid or cancelled and she again said there records did not go back that far and that is all they could do. i am considering hiring an attorney but the policy face value is $4000 and it would probably cost more to fight them in court and still may not get the claim paid. any advise would be greatly appreciated. i did report this to my state department of insurance. _________________ Register Now to have your Insurance queries solved.	Guest
Posted: Sat Jun 13, 2009 2:03 pm   Post subject:    What did the state department of insurance say? Did they advise you to do anything specific? I know that whenever a bank or insurance company buys out another, the records do sometimes get mixed up. However, this is not the client's fault and the way I see it...if you can prove everything that you have stated, then you should be treated a whole lot better. What I'm not sure about is the statute of limitations on paying out a death benefit. Does this vary by state? Is there a limit to the time in which a death benefit can be claimed? In your post you stated that you faxed everything in and never received a call back. My experience, when dealing with any company, is that it is always better to call them immediately after faxing and make sure they received it (so they have no excuses). Better yet, keep them on the phone while you fax it if possible, or email it to them with a return receipt requested! Good luck, and I'm sure some more help will be along shortly!	ChrisBantly Senior member Joined: 11 Mar 2009 Posts: 381 Location: Upstate SC 0.52 Dollars($)
Posted: Sat Jun 13, 2009 5:38 pm   Post subject:    i just did the online complaint form yesterday so i have not heard back from the dept. of insurance yet. i have not spoken to an attorney yet, but the online esearch i have done i can not find any laws about statute of limitations on claiming a life insurance benefit. _________________ Register Now to have your Insurance queries solved.	lost girl Guest

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