GTL Is No Help At All

[Bob_The_Insurance_Guy]

Had a client who was hospitalized, then passed away. Sat down with his widow to complete the claim form.

Come to find out from GTL that, when this happens, they send the check to the Estate. Well, there is no Estate to send it to. If there is no Estate, they send it to the State of Georgia.

So then, I asked, if we are submitting the Death Certificate along with the Claim Form, with her listed as the widow, why can't they use that as proof.

Their response to me was, that is their policy, and all she has to do is fill out a Small State Affidavit. Guess what (listen up Georgia agents), the State of Georgia does not recognize Small State Affidavits.

There was a Will in place, but no Estate.

Next step is to consult with an Elder Care Attorney, and find out what forms she needs to complete to get the money.

I will not use GTL any more, and as soon as this is over, we are cancelling her policy with them.

 

[VolAgent]

You're getting ahead of yourself.

There is always an estate. Everything he owned and everything he owed is his estate. Remember, his will has to be probated.

Sadly, by paying to the estate, all his creditors get a crack at the money.

 

[WinoBlues]

Had a client who was hospitalized, then passed away. Sat down with his widow to complete the claim form.

Come to find out from GTL that, when this happens, they send the check to the Estate. Well, there is no Estate to send it to. If there is no Estate, they send it to the State of Georgia.

So then, I asked, if we are submitting the Death Certificate along with the Claim Form, with her listed as the widow, why can't they use that as proof.

Their response to me was, that is their policy, and all she has to do is fill out a Small State Affidavit. Guess what (listen up Georgia agents), the State of Georgia does not recognize Small State Affidavits.

There was a Will in place, but no Estate.

Next step is to consult with an Elder Care Attorney, and find out what forms she needs to complete to get the money.

I will not use GTL any more, and as soon as this is over, we are cancelling her policy with them.

I must be missing something. Who where the beneficiaries?

 

[VolAgent]

I must be missing something. Who where the beneficiaries?

I believe this was some kind of hospital indemnity plan.

 

[WinoBlues]

I believe this was some kind of hospital indemnity plan.

Ah, got it. Carry on.

 

[Bob_The_Insurance_Guy]

You're getting ahead of yourself.

There is always an estate. Everything he owned and everything he owed is his estate. Remember, his will has to be probated.

Sadly, by paying to the estate, all his creditors get a crack at the money.

From what I understand from the Financial Planner for the family, all debts were paid off through investment accounts, and everything was changed over to the name of his wife and grown children. That's how they avoided probate.

Again, that's just what I heard. I've got a few calls in to some Elder Care Attorneys.

 

[VolAgent]

From what I understand from the Financial Planner for the family, all debts were paid off through investment accounts, and everything was changed over to the name of his wife and grown children. That's how they avoided probate.

Again, that's just what I heard. I've got a few calls in to some Elder Care Attorneys.

I admit, I'm not an attorney.

I'm pretty sure someone doesn't know what he is talking about. All wills have to go through probate. They may have eliminated most of the assets in his estate, but the will still has to go through probate. Also, probate allows his legitimate creditors to come forward and make a claim upon his assets. I would be curious if this was done recently and if they would be able to undo the transfers to satisfy any outstanding debts, assuming there are some.

 

[wfs]

This doesn't make much sense to me. So if GTL made the check out to "The Estate of Joe Client", then the attorney/financial planner would have no idea what to do with it?

Seems like an incompetent attorney/financial planner, not GTL. GTL is simply bound by the law as far as what they can and cannot do. This is not a corporate decision.