Question about Life Ins. policy after death of father

[TxMsLady]

What is the name of your state? What is the name of your state? What is the name of your state? What is the name of your state? TX

My father died in 1993. I've posted some questions on this forum in the past regarding his will and the shady dealings my mother and their lawyer had after my dads death. (His will was never probated, and though I know for a fact that he kept it updated, a 20 yr old will was produced to us kids with the lawyer stating that there wasn't an updated will). Now...some new news has come to light. I've just found out this past weekend from a friend of the family that my father confided in him about a life insurance policy (term) that my he had taken out so that all expenses would be paid and his family wouldn't have to "worry". My mother has never mentioned this. She is spending like crazy, selling off my dad's and our inheritance, and in her words "living high off the hog". She's a very selfish person who lies unfortunately. It's a sad situation. My siblings and I truly believe she has a mental problem. My question is: Is there any way possible to do any kind of research to find out if my dad indeed had a life insurance policy, and if so, where would I begin? I don't know that it could even be done not having a name of an insurance company. Any helpful information that you can provide would truly be appreciated.

 

[Bigfoot]

If you had access to at least his last 2 years of bills or checks written, you might find a regular payment being made to an insurance company.

A term policy would have no cash value. So, if he neglected to make any payments before his death (unless it were some sort of paid up plan), then the policy would have been cancelled.

If he had a group term policy through his job, then you might be able to find the name of the company that way.

If he named your mother as the beneficiary, then she can use the proceeds as she wishes. If he left the proceeds to his estate, and she served as the executor of the estate, then she would have access to the funds.

You may ask the funeral home if your mother paid for your father's funeral in cash, or, if she used a policy to pay some of the costs. She would have to have had a copy of his death certificate to get access to any funds.

 

[TxMsLady]

Bigfoot,

Thank you for your reply. I'm just assuming it was term...maybe I'm confused on the type. When I asked this friend that my dad confided in what type of ins. it was....accidental, term, ect.....he said all he knew was "that it was the kind that he could borrow from it." Would this be term?

Anyways, I do not have access to my father's checkbooks and past bills. Even though he provided me with their safes combination years ago, my mother has moved it. I've been told on this forum in the past that I'd be a fool not to look into that safe, that it wouldn't be trespassing since it was my dads wishes for me to have access to it. I've just always felt that it would be "trespassing" because it would be a cold day in hades before my mother would want anyone in it. I do understand that my mother can spend my dad's estate as she wishes....unforturnately. But I just didn't know whether she knew of this life ins. policy, or even if she was named beneficiary on it.

I have read in a previous post today that any upaid insurance premiums could still be paid by what is invested in the policy, after someones death, until there were no more funds left of the policy. I just didn't want this to be a case like that.

Thanks again for your input .

 

[Bigfoot]

If it were a policy that could be borrowed against, it is not a term policy. It's what we call a whole life policy. If payments are not continued, then the cash value is used to pay the premiums until it cancelled.

Of course in your case you don't know the face value of the policy nor how long he paid on it. After 10 years of possible non-payment, it's doubtful that much (if any) money would be left.

If your mother served as executor, she no doubt would have seen a bill from the insurance company. And if she's as smart as you suggest, she has already cashed it in--if possible.

If it were an accidental death policy, it would have paid the contract terms to the beneficiary upon proof of death. Some accident policies are as little as $10,000, some well over $300,000. The cost of such policies are fairly inexpensive, which makes them attractive. Again, when the bill is due, it would have been sent to your father, and your mother no doubt would know about it.

Sorry to not be more hopeful.

 

[knotcops]

Do you know what company your father used for the auto, home or health policies. He may of taken out a life policy with them. You may want to pay a visit to his local agent, if he had one and see if you can glean any info there. The mortgage company MAY give you info as to who insured the home, and lienholders on the vehicle MAY give you info on the autos.

 

[TxMsLady]

Thank You knotcops.

My dad worked for a utilities company until he took an early medical retirement. Our home was paid for, and after retirement, he sold it and rebuilt another nice home....no mortgager. Paid in full. His health insurance was from his company he retired from, which was Gulf States Utilities....now called Entergy. I'm not sure on the auto insurance, but that is definitely a thought to look into that agency once I find out. Thank you for your advice.

 

[knotcops]

Your welcome!

 

[TxMsLady]

Bigfoot,

I'm sorry that for some reason, I overlooked your response of the policy probably being wholelife. As far as the amount, my father told our friend that it was for one million. You have been helpful and I do appreciate your input. I guess what I want more than anything is to just know what my dads last wishes were. I just need that to have healing and a peace I guess. I know that my mother will spend down every last dime. Truth and integrity are extremely important to me, and my father was a man made up of these virtues....I just want to know the truth as to how things were handled. I also realize that as long as I'm on this earth, I may never know. Thanks again and praying God's blessing on you and yours .

 

[Dandy Don]

Why would you be searching for a policy when you won't even follow the simple advice of looking in the safe, where your curiosity and your questions about some aspects of the estate could be answered (knowledge is power!) and you are too scared to even do that!!! Policy might be in there, and no doubt there are other papers that would shed valuable light on estate assets.

It would do you no good to search for a policy--if you had been named beneficiary you would have been notified by now.

If still interested, contact a local physicians' office to find out how you can get a copy of his medical records from a Medical Information Bureau (similar to credit bureau report) that shows names of insurance companies that made inquiries on your father's medical records--one or more of these companies probably issued the policy.

 

[TxMsLady]

Dandy Don,

You have been so helpful with your input regarding the safe with possible will and info in it. You disappoint me telling me that I'm "too scared" to even look. If you reread my prior post, you will see that I stated that my mother has moved it somewhere. That implies that I planned to look inside of it when I visited with her last. It's not as "simple" as you make it out to be. I live in another state now from her. And you don't just barge in and say "I'm looking in that safe whether you like it or not!". That is her home afterall, and though it seems foolish to not look in the safe, it would be even more foolish to cut off all communication with my mother.

My next step is to make another trip to TX when I can to do some research at the courthouse, which was good advice you gave. Please don't slam me. I know if there was a policy that I wouldn't be beneficiary of it. So I'm not expecting anything from it. I simply want answers to how and why things were settled the way they were. The medical records idea was good also. Thank you. In the future I'd appreciate a little more respect just as I have treated you.