my stepmother willl not give me the insurance policyt that my father had on me. how do i go about finding out what is the name of the insurance company.
Total Comments: 14
Posted: Fri Aug 14, 2009 12:45 am Post Subject:
What do you mean by, "that my father had on me"?"
Who is the owner of the policy? Who is the beneficiary of the policy? Who is the insured on the policy? Is your dad alive?
Posted: Wed Aug 19, 2009 08:33 pm Post Subject: life insurance policy
My father took out a life insurance policy on me years ago. he was the beneficiary of the policy. I am the insured. He died June of this year 2009. My stepmother has the actual policy but she will not give me the papers. what can I do to find the name of the insurance company so that I can get a copy of the policy mailed to me. My father was the owner of the policy. not my stepmother
Posted: Wed Aug 19, 2009 10:07 pm Post Subject:
The insurance company won't give you a copy unless you are now the owner of the policy.
Does the insurance company know that your father is dead?
I don't want to give a wrong answer. I think that I know, but I'm not certain. Who becomes owner of the policy when the owner dies?
Posted: Wed Aug 19, 2009 10:10 pm Post Subject:
Most of us can just beat up their stepmothers - no problem.
Just kidding,
Mark
Posted: Wed Aug 19, 2009 10:53 pm Post Subject:
Mark, do you know the answer to my question?
Posted: Thu Aug 20, 2009 12:34 am Post Subject:
In most cases, the insured becomes the new policy owner.
Posted: Thu Aug 20, 2009 01:02 am Post Subject:
Why? How is this determined?
Is this because in most cases, the owner is the spouse?
As an asset of the owner, it is part of the owner's estate. Therefore, why wouldn't the policy ownership be based upon what his will says. Absent a will, shouldn't it be determined by the intestate laws of the state?
What say does the insurance company have in all this?
Mark, I pride myself on my knowledge, but even more so on knowing what I don't know. This is definitely one of those areas.
Posted: Thu Aug 20, 2009 02:03 pm Post Subject:
Usually, a successor owner can be named in the insurance application, however, as you proably well know this is very rarely done. A signed Notice of Intent can also be provided to an insurance company regarding ownership information.
The successor owner will become the new owner when the owner dies, that is if he/she dies before the Insured.
If no successor owner survives you and you die before the Insured, your estate will usually become the new owner.
But never underestimate the the power of a claims department. I've seen them take the position of, "We have no clear understanding of the situation and will therefore pay anyone we choose to pay and there's nothing you can do about it. Get a lawyer if you have a problem with that."
Posted: Thu Aug 20, 2009 02:04 pm Post Subject:
Usually, a successor owner can be named in the insurance application, however, as you proably well know this is very rarely done. A signed Notice of Intent can also be provided to an insurance company regarding ownership information.
The successor owner will become the new owner when the owner dies, that is if he/she dies before the Insured.
If no successor owner survives you and you die before the Insured, your estate will usually become the new owner.
But never underestimate the the power of a claims department. I've seen them take the position of, "We have no clear understanding of the situation and will therefore pay anyone we choose to pay and there's nothing you can do about it. Get a lawyer if you have a problem with that."
Posted: Thu Aug 20, 2009 02:04 pm Post Subject:
Usually, a successor owner can be named in the insurance application, however, as you proably well know this is very rarely done. A signed Notice of Intent can also be provided to an insurance company regarding ownership information.
The successor owner will become the new owner when the owner dies, that is if he/she dies before the Insured.
If no successor owner survives you and you die before the Insured, your estate will usually become the new owner.
But never underestimate the the power of a claims department. I've seen them take the position of, "We have no clear understanding of the situation and will therefore pay anyone we choose to pay and there's nothing you can do about it. Get a lawyer if you have a problem with that."
Posted: Fri Aug 14, 2009 12:45 am Post Subject:
What do you mean by, "that my father had on me"?"
Who is the owner of the policy? Who is the beneficiary of the policy? Who is the insured on the policy? Is your dad alive?
Posted: Wed Aug 19, 2009 08:33 pm Post Subject: life insurance policy
My father took out a life insurance policy on me years ago. he was the beneficiary of the policy. I am the insured. He died June of this year 2009. My stepmother has the actual policy but she will not give me the papers. what can I do to find the name of the insurance company so that I can get a copy of the policy mailed to me. My father was the owner of the policy. not my stepmother
Posted: Wed Aug 19, 2009 10:07 pm Post Subject:
The insurance company won't give you a copy unless you are now the owner of the policy.
Does the insurance company know that your father is dead?
I don't want to give a wrong answer. I think that I know, but I'm not certain. Who becomes owner of the policy when the owner dies?
Posted: Wed Aug 19, 2009 10:10 pm Post Subject:
Most of us can just beat up their stepmothers - no problem.
Just kidding,
Mark
Posted: Wed Aug 19, 2009 10:53 pm Post Subject:
Mark, do you know the answer to my question?
Posted: Thu Aug 20, 2009 12:34 am Post Subject:
In most cases, the insured becomes the new policy owner.
Posted: Thu Aug 20, 2009 01:02 am Post Subject:
Why? How is this determined?
Is this because in most cases, the owner is the spouse?
As an asset of the owner, it is part of the owner's estate. Therefore, why wouldn't the policy ownership be based upon what his will says. Absent a will, shouldn't it be determined by the intestate laws of the state?
What say does the insurance company have in all this?
Mark, I pride myself on my knowledge, but even more so on knowing what I don't know. This is definitely one of those areas.
Posted: Thu Aug 20, 2009 02:03 pm Post Subject:
Usually, a successor owner can be named in the insurance application, however, as you proably well know this is very rarely done. A signed Notice of Intent can also be provided to an insurance company regarding ownership information.
The successor owner will become the new owner when the owner dies, that is if he/she dies before the Insured.
If no successor owner survives you and you die before the Insured, your estate will usually become the new owner.
But never underestimate the the power of a claims department. I've seen them take the position of, "We have no clear understanding of the situation and will therefore pay anyone we choose to pay and there's nothing you can do about it. Get a lawyer if you have a problem with that."
Posted: Thu Aug 20, 2009 02:04 pm Post Subject:
Usually, a successor owner can be named in the insurance application, however, as you proably well know this is very rarely done. A signed Notice of Intent can also be provided to an insurance company regarding ownership information.
The successor owner will become the new owner when the owner dies, that is if he/she dies before the Insured.
If no successor owner survives you and you die before the Insured, your estate will usually become the new owner.
But never underestimate the the power of a claims department. I've seen them take the position of, "We have no clear understanding of the situation and will therefore pay anyone we choose to pay and there's nothing you can do about it. Get a lawyer if you have a problem with that."
Posted: Thu Aug 20, 2009 02:04 pm Post Subject:
Usually, a successor owner can be named in the insurance application, however, as you proably well know this is very rarely done. A signed Notice of Intent can also be provided to an insurance company regarding ownership information.
The successor owner will become the new owner when the owner dies, that is if he/she dies before the Insured.
If no successor owner survives you and you die before the Insured, your estate will usually become the new owner.
But never underestimate the the power of a claims department. I've seen them take the position of, "We have no clear understanding of the situation and will therefore pay anyone we choose to pay and there's nothing you can do about it. Get a lawyer if you have a problem with that."
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