Have you informed your beneficiary?

[rjm1cc]

Originally Posted by newcomputer

How would the insurance company know you were dead unless someone came forward with a claim and a death certificate? I'm sure this was addressed on the program.

I think they should be able to access the Social Security death data base and compare that to policy holders.

[fluffythewondercat]

Originally Posted by thenwhatareyou

I just watched a 60 minutes show that life insurance companies do not pay out unless the beneficiary comes forward and makes a claim.

It's worse than that, actually. Some of them will not pay out until you threaten or take legal action to force them to do so.

My late MIL had a policy that had an assisted living benefit that would have covered her 6 months in a board-and-care home. My SIL has been fighting the insurance company, as they keep stalling, saying they haven't gotten the documentation she's sent multiple times already. She keeps calling them, which I think is a mistake. She should be sending them written correspondence to document the entire process and she should be get her lawyer involved if the stalling tactics continue.

We are the successor trustee for my MIL's living trust, and there are three or four (I forget) more policies we have to initiate action on, as soon as we get the certified death certificates. And that's another thing: Don't put off pursuing your claim. Often there are time limits.

[kevxu]

I have informed beneficiaries in the past and regretted it.

Therefore, with my present arrangements I have informed no one but my solicitor, who is also my executor.