by veranew1 » Sat Apr 18, 2009 11:23 pm
Hi, I just found my fathers life insurance policies of which I am the beneficiary. I contacted American General and they are giving me a hard time. I had to asked them to do research on the policies. They first told me that the policy had lapse and I told them that my father paid his bills and I knew that wasn't right. Then they had to produce my fathers cancelled check. I not only found the cancelled check but I also found his premium payment book that the agent signed each month that he collected payment from my father. I have faxed all that to them. My question is will they have to pay interest on the death benefit since it has been 31 years? If so, what is the standard going rate for interest? I have been trying for 6 weeks to claim this death benefit. One policy is for a $1000 and one if $500.00. What should I expect to receive if they pay interest? There was also 2 more policy numbers that I found but I don't know who the beneficiary is on them. Thanks for your help.
Posted: Mon Apr 20, 2009 01:54 pm Post Subject:
i think its the responsibility of the kinsmen to inform the insurance company about the death of the policy holder.It is really not a duty of the agent to 'inform' the death of the policy holder.
But surely while settling the claim agent does plays a big role in terms of documentation required.Those agents who settles down the claim procedures for their clients always get a good business. :wink:
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