Life insurance beneficiary

[kiwi333]

What is the name of your state? Georgia.
I am the named beneficiary on my ex-boyfriends life ins policy.
The company is Minnesota Life. I have complied with all requests for documentation(policy was just under 2 years) Ins company told me in May they were holding out on the death benefit b/c deceased's father questions if I was beneficiary. (Father has estate attorney involved) I have now hired an attorney who wrote a 10 day demand letter to ins company telling them to comply or it would be considered "bad faith" They have not responded at all. They have technically not denied me the money, but at the same time they won't pay me either. (GA Ins Com was notified) My attorney now tells me we will file a lawsuit to collect the death benefit as well as a 25% penalty plus attorney's fees. He implied to me that the 25% penalty would be his fee. Is that
appropriate or a little excessive? Thank you for any info on this

P.S the life ins company has had all documentation since May 13, 2002,10 day demand letter was sent may 30, 2002

 

[ALawyer]

Quite frankly if GA law says the lawyer should get attorneys fees then I see why you would question why he should also get any of the 25% penalty s/he says GA law provides. The answer may well be that regular attorneys fees may not be enough given the risk, and some or all of the penalty may not be unreasonable. I doubt that you are prepared to pay about $200-$400 per hour, or more, plus expenses, win, lose or draw, and lawyers rarely take these cases on a pure contingency basis.

The fact is the policy is contestable because it was in force less than 2 years at the time of death -- so if there was ANY material misrepresentation on the application it will deny the claim.

If its investigation shows there was no basis to contest the claim, there is the issue of who gets the money. In that case it would be standard practice for the insurance company faced with conflicting claims to simply "interplead" both claimants -- it pays the money into court and lets the 2 parties fight it out between themselves.

 

[kiwi333]

life insurance beneficiary

Ga.
I have just received an e-mail from the ins. commisioner's office that the deceased intended or did change the beneficiary on this policy. The family is very upset that the money was left to me and I find it hard to believe that after all these mos they are now claiming this. If the decedent changed the beneficiary but never filed the paperwork will I not receive the death benefit? Also, if I believe that this document was forged what would I do?

 

[CIAA]

You should discuss this with your attorney asap. The beneficiary change should have been postmarked prior to the date of death and received by the insurance company to be effective. Your attorney can have the letter and/or signature examined by forensic handwriting experts.

 

[kiwi333]

life insurance beneficiary

the decedent lived in FL, if his parents found a change of beneficiary form in his apt would that be enough to block me from receiving the death benefit? thank you both for your replies, and P.S. the 25% penalty from my earlier post would be $15,000

 

[ellencee]

kiwi333
CIAA stated that the form must have been mailed, postmarked before the date of death, and received by the insurance company. Unless the form found in the apartment was a copy of the one that was mailed, postmarked before date of death, and received by the insurance company, I don't believe it counts.

 

[kiwi333]

life insurance beneficiary

GA.
If this claim is going to be interpled in court, shouldn't the life insurance company have given me some notification? Or informed my attorney? Does this mean that any interest owed to me from all this delay will not be paid b/c the life insurance company is turning it over to the courts? And finally, I have a very difficult time getting my attorney to call me back about these new developments (dept of ins says that deceased intended to or did change beneficiary) I understand he has a lot of other clients but I would like some reassurance of what our next steps will be and he hasn't called me back in three days. Should I consult with another attorney? Thank you for your advice it is greatly appreciated

 

[CIAA]

Kiwi,

We are not attorneys, cannot give legal advice, and speak only from our insurance experience.

I think that you need to get an attorney that will file suit as soon as possible. I am afraid that if the insurance company or the family files suit, it may be in Florida or somewhere else. Without getting into an explanation of "diversity of citizenship" and jurisdictional questions, if you file suit there is, I believe, more than a good chance that the case will be heard where you file it, rather than somewhere else. In regard to the penalty, I don't believe that it will be available if an interpleader is filed. Additionally, all court costs and insurance company legal fees are allowed to be deducted from any benefits awarded regardless of who wins.