by Guest » Wed Sep 21, 2011 05:50 am
I’m trying to collect a life insurance claim from my grandparents who died 2 years ago, they had it in an account I couldn’t access until I am 18. I’m 17 and I don’t know how to find the bank the account it was in... I am feeling completely helpless. Can anyone please help?
Posted: Wed Sep 21, 2011 06:52 am Post Subject:
As far as I can follow, it was a kind of trust, and you can’t collect it as a minor.
The money would be either collected by your guardian or it’ll be paid to you, when you become an adult.
To know about it though, you may ask the executor of their estate. The executor would probably be one of your uncles/aunts. Or you may try to consult your grandparents’ attorney regarding the procedure.
Posted: Wed Sep 21, 2011 01:30 pm Post Subject:
The money would be either collected by your guardian or . . .
The money is not "collected" by a guardian. If it was paid into a trust account, the trustee of that account may access the money for the direct benefit of the minor. The child's guardian may or may not be the trustee.
Is it also possible that the insurance proceeds are still being held by the insurance company (and earning a nominal rate of interest). If the instructions to the insurance company were to release the money to the child at age 18, that's when it will happen. Not before.
Posted: Fri Jan 06, 2012 10:25 am Post Subject: claim
i had aflac some years back an never used it can i get that money back
Posted: Fri Jan 06, 2012 11:44 am Post Subject:
NO. AFLAC does not sell products with a cash value provision. You pay premiums for coverage one year at a time, and you either use the benefit, or life is GOOD and you don't need the insurance. But at least you had the peace of mind at the time knowing you were covered.
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