My Father-In-Law Passed Away.

[jwredden]

When my father-in-law passed away this last July we found an old insurance policy for $40,000. My wife contacted the insurance company and they said he stopped paying on the policy as of 1993 which was 20 years after he had taken it out. On the second call a few minutes later to try and clarify something my wife was told that he stopped paying on it in 1996, but that there "may" have been another policy number she needed to find. This made us think that there is another policy with the same company, but they have not been forthcoming on the subject. Is there anyway to get a copy of all of his file at that particular insurance company? Over the last 10 years he said that he carried life insurance on more than one occasion. He was just too responsible to have let it lapse. My wife is his only surviving relative.

 

[seniorjudge]

When my father-in-law passed away this last July we found an old insurance policy for $40,000. My wife contacted the insurance company and they said he stopped paying on the policy as of 1993 which was 20 years after he had taken it out. On the second call a few minutes later to try and clarify something my wife was told that he stopped paying on it in 1996, but that there "may" have been another policy number she needed to find. This made us think that there is another policy with the same company, but they have not been forthcoming on the subject. Is there anyway to get a copy of all of his file at that particular insurance company? Over the last 10 years he said that he carried life insurance on more than one occasion. He was just too responsible to have let it lapse. My wife is his only surviving relative.

Ask the insurance carrier for a copy of the insurance policy.

Check his banking accounts to see if he had been paying on an insurance policy.

 

[Some Random Guy]

And if you cannot find the records from his bank accounts or the known insurer, try contacting MIB, which can locate policies for a $75 fee.

http://www.mib.com/html/lost-life-insurance.html

 

[Betty]

Yes, check his financial records, bank statements, etc. to see if he was paying on an ins. pol. Also, check income tax forms to see if any dividends might have been paid on an ins. policy. You could call ins. co. & give them your father-in-law's name, date of birth, etc. & have them check for all policy #'s he might have & what is the status of these policies. (do they have any value) Check policy you have to see if it is a term policy or a whole life (permanent) policy. If a permanent policy, even if he stopped paying premiums, there could be a cash value to the policy. The cash value could have been paid to your father, used to buy some extended term ins. or a reduced amt. of paid-up whole life (permanent) ins. If term ins. & the term is up, nothing is payable. If reduced paid-up whole life (permanent) ins., a benefit may (should) be payable. I worked for an ins. co. You first said you were told he pd. on pol. for 20 yrs. - some companies offer a 20 pay life policy - after paying for 20 yrs., policy is paid up for full face amt. & full amt. would be paid at death.

 

[moburkes]

The isurance companies are only going to provide this info if you are a beneficiary. Otherwise they won't be forthcoming.

 

[Dandy Don]

Hard to know if the insurance company was actually telling the truth about the existence of this other policy number or just misleading her in an attempt to make her think she will be getting something.

If in fact there is another policy with a policy number, that should not have any effect on whether the insurance company pays out or not--since the insurance company is supposed to have their records of the policy and whether the premiums have been paid or not.

Call the insurance company again and ask them to explain what type of policy it is and exactly what information THEY have about it (and be sure to get the name of the person you talked to) and ask if their records show that he paid any premiums on it or who the agent was who might have sold it to him. If they stall, file a complaint with your state insurance commissioner (do a GOOGLE search using the name of your state--which you forgot to mention--for example, "Georgia State Insurance Commissioner"--and you will find contact information) so that the insurance commissioner can investigate this on your behalf to get more specific information about what the insurance company actually has or doesn't have.

Is this possibly a policy he could have purchased through his place of employment?

Hope this works out well for you!

DANDY DON IN OKLAHOMA ([email protected])

 

[Betty]

I worked for an ins. co. & know that some companies will (without even verifying if you are actually a family member or the beneficiary): - if you will call & give them insured's name, date of birth, address, etc., they will check for all policy #'s on that person & give you status of policies. You said you found one pol. so you already have one pol. #. - it is on pol. If it is group ins. through an employer you prob. would not have a pol. - only certificate of ins. or maybe not even that. (very rarely do you have an actual ins. pol. for gr. ins.)