Lost Policy Found But ...

[perfectlove]

My husband passed away 1994 but before he died he said he is insured for 2 million. I found a policy but i do not know if this is the 2 million policy. When i try to claim it they said that it was open 1962 and the premiums payments stop in 1982 and then they said that the cash value were used to pay the premiums up to 1988. and the policy already lapsed. or gone. is this true.
This company has different branch, i got another letter from another branch director at the same insurance company and she said that it was open 1962 and close in 1992 and policy is gone.
Then I got another letter , the same insurance company and he said they need any documentation that i am the executor of this policy.
But when i called the customer service to ask for a copy of that policy they said they cannot find the policy on there system.
Anyone please help... Can i still claim that policy.???

============================================

i hired someone to send letters to all insurance companies and let them search their system if they will find any insurance for my late husband:
For the past 16 years, I do not know how to use this computer technology and I did not know that you can go to some website for help in finding lost policy or unclaimed wealth. I am 58 years old and trying hard to be a computer nerd hahahaha.
Anyway this company has so many branch and one day this insurance company send me a letter which has the policy number of my late husband and he said that they cannot give all confidential info if i am not the executor of the said estate of my husband and because i am the wife i send them the proper papers. i said to him that I only want a copy of that policy.
Then the next week i got another letter from this same insurance company but the one who answer me now said that the insurance were open in 1962 then stop paying premiums on 1982, 20 years and then pay the cash value to extended term life insurance up to 1988.
Then one more letter came and said to call customer service to discuss the policy but i was run around because they cannot find the policy on the system and was transferred to different department.
Again got another letter saying that the policy already lapsed and that the policy were open 1962, stop premiums payment on 1982 and then cash value were extended to term life until 1992. another change in years, now it lapsed on 1992 instead of 1988.
I just want a copies if they can send it to me to see what was said on that policy.
any more help???

 

[BNTRS]

Re: Lost Policy Found But.....

There's no such thing as executor of the policy. Beneficiary, yes, owner yes...

If you can prove that the policy was in force when your husban died, then yes, you can collect on the policy.

 

[jamesflou]

Re: Lost Policy Found But.....

I would look for any statements where you and he were paying the premiums because the policy number would be on it. Even bank statements or canceled checks. Try to determine if he may have had more than one policy. Hopefully he kept up the payments. Depending on the type of policy it may have had cash value which would pay the premiums until that value was exhausted thus causing the policy to lapse. If it were a term policy the policy would be canceled if payments had stopped being made. It's worth the effort to research. Good luck!

 

[mx_599]

Re: Lost Policy Found But.....

My husband passed away 1994 but before he died he said he is insured for 2 million. I found a policy but i do not know if this is the 2 million policy. When i try to claim it they said that it was open 1962 and the premiums payments stop in 1982 and then they said that the cash value were used to pay the premiums up to 1988. and the policy already lapsed. or gone. is this true.

This company has different branch, i got another letter from another director at the same insurance company and she said that it was open 1962 and close in 1992 and policy is gone.

Then I got another letter , the same insurance company and he said they need any documentation that i am the executor of this policy.

But when i called the customer service to ask for a copy of that policy they said they cannot find the policy on there system.

Anyone please help... Can i still claim that policy.???

16 years???

why the sudden concern?

 

[dgoldenz]

Re: Lost Policy Found But.....

If I was married and my spouse told me they were insured for $2 million and then died, I would surely hire an investigator to find that policy. That's probably not something I would just let go by the wayside. Why didn't he tell you where the policies were kept or the details?

 

[Mr. Bill]

Re: Lost Policy Found But.....

I'm sensing a chain jerk. "I found a policy" but can't read what it says? C'mon y'all.

 

[Fisher]

Re: Lost Policy Found But.....

I found a policy but i do not know if this is the 2 million policy.

What do you see when you read what the policy says?

 

[Mr_Ed]

Re: Lost Policy Found But.....

I predict that there will be a post by another brand new member with a link to a website with the answer to this question.

 

[perfectlove]

Re: Lost Policy Found But.....

There's no such thing as executor of the policy. Beneficiary, yes, owner yes...

If you can prove that the policy was in force when your husban died, then yes, you can collect on the policy.

============================================

i am the executor of the estate of my late husband. it goes to probate.
- - - - - - - - - - - - - - - - - -

16 years???

why the sudden concern?

=================================================

For the past 16 years, I do not know how to use this computer technology and I did not know that you can go to some website for help in finding lost policy or unclaimed wealth. I am 58 years old and trying hard to be a computer nerd hahahaha.
- - - - - - - - - - - - - - - - - -

What do you see when you read what the policy says?

=========================
i added more to my thread so read it please...
thank you

still asking for the copy of that policy
- - - - - - - - - - - - - - - - - -

If I was married and my spouse told me they were insured for $2 million and then died, I would surely hire an investigator to find that policy. That's probably not something I would just let go by the wayside. Why didn't he tell you where the policies were kept or the details?

===========================
when he told me he is insured he did not tell me more further details, then the next day he went to alaska where he worked and so after a month over there he passed away dedbol..hahahahahaa.

try to find something on all his things but he always throw away statement on the fireplace gone with the ashes hahahahaha...he said papers are junks in the house...


ty for the comments love a forum...

 

[scagnt83]

Re: Lost Policy Found But.....

Since you are receiving conflicting documents and dates from the same insurance company; it sounds like your husband might have had multiple policies with them.

Is it all the same insurance company?

The life insurance policy should not go to probate if he specifically named you as beneficiary of the policy. The funds from the policy should be exempt from probate and go directly to you tax free (if you are the beneficiary).
If you are not, the funds from the life insurance would indeed be included in his estate and go through probate (this is assuming that he named no one as the beneficiary; if a specific person is named it goes to them, if none is named it goes to probate).

Proving yourself as the beneficiary should be easier than proving yourself the executor of his estate.
So finding out if you are the named beneficiary or not is key if the policies are still in force.

But from what you stated the letters read, it sounds like the policies in question have lapsed. But it is certainly worth tracking down..

You need to find an independent insurance agent in your area who is authorized to do business with whatever company the policies are with.
They can talk to the company on your behalf and find out the facts and relay them to you.
You also might want to speak to a financial advisor or tax attorney and discuss going over your husbands financial records.
Even if he didnt keep copies, the banks do.
Any check he wrote, credit or debit card transactions, etc. are all recorded in their files. They can access this for you and you can find out if he was still paying premiums on any policies and what premiums he did pay on the other policies...