by Guest » Wed Oct 03, 2012 06:53 pm
Hello everyone. It appears this forum is well versed in these matters so I'm hoping someone can help me. I just found out that mother had a VUL policy, which she opened in 2001. It lapsed in Sept of 08 while she was in the hospital. She died April 09. She was in and out of the hospital and eventually in hospice for those months. Is there a possibility for me to get it reinstated by paying the the balance of what would have been owed in order to claim death benefits? Any help would be appreciated please.
Posted: Thu Oct 04, 2012 12:09 pm Post Subject:
Your mother is dead. The policy cannot be reinstated.
However, a detailed policy analysis may reveal that the policy should not have lapsed or that she would have been entitled to a terminal illness benefit that was not taken.
The bigger problem that you most likely have is the fact that this is OCT 2012, your mother died in APR 2009, which means more than 3-1/2 years has gone by and even if there was a viable argument regarding the death benefit, you have waited too long to make your claim -- called the statute of limitations. There are few exceptions.
Contact me for more information.
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