lost Life Insurance policy

[interested]

I'm looking for advice on a 80 year old and a 69 year old life insurance policy's. My mother fell into ill health and she asked me if I could find out any information.Both the policy's are intermediate weekly whole life. One policy 25 cents a weekly face amount $505.00 and the 69 year old policy, 35 cents a weekly face amount $525.00. One policy was taken out in (1921 in Illinois) and the other one was taken out in (1930 in Wisconsin.) That doesn't sound like much but if you spread that over 80 years it potentialy is a lot of money. My Great Aunt died in 1977. The insurance company (Prudential) won't give any guideline information on the orignal whole life policy's . They said that they don't have the orignal policy. The only thing that they had was a copy of the orignal application. The application doesn't have any guidline information, except weekly premium information,face amount and it says it is a Whole Life Policy. The policy's must have been paid up or the company wouldn't have contacted my mother or her two brothers.The insurance company did Pay them a sum of money. Personaly, I don't think it was no where near what they should have paid them!I was wondering what kind of interest they should have paid on the money after 1977? Is there any way to find out what the orignal guidelines were on the policy's ? I'm wondering where they got they're figures at, before my aunt died and after she died.I would greatly appreciate any help you could give me!!

 

[ALawyer]

If the company could not locate the beneficiaries they sometimes deposit the proceeds with the state under the laws of "escheat" and the state does not pay out interest.

If not, don't expect to get rich on the interest, which probably was no more than 3-5%

Write to the state insurance department if you have any specific question.

 

[interested]

Thank you for replying! I have done some, research and it wasn't turned over to the unclaimed property's division like it was suppose to by law. There were two states involved. I'm just trying to find out the laws that the insurance company should have been be following and what they should be liable for my family ! I'm not looking to get rich just what is suppose to be coming to my family by law. There's alot of unanswered questions! I appreciate any input I can get! Thank You!