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Can an insurance company send you a settlement check then say they want some of the money back and you have already cashed the check?
Wiki User
∙ 11y ago
It's uncommon, but it can happen. It is possible that one of several things may have happened:
- They may have paid an incorrect amount of money, but this is rare.
- They may have received new evidence that changes the liability of their client
- They may have paid you pending investigation results that they fully expected to go one way, but which end up going another unexpected way.
There are other possibilities, but these are very rare. Under most circumstances, the insurance company will consider the case closed and settled once the check is cut, but it is possible that they may want some of the money back.
Basically, there is no legal requirement for you to return any of the money that they already paid you. Simply tell them that you have already cashed the check and used the money. If they insist, tell them to sue you, or to send it to collections. Especially if it is a small amount they want back (typically less than $100), it will cost them more to litigate or send to collections than what they would get back, so in that case there's nothing to worry about because it will never get to collections. If it is a larger amount, they may send it to collections. If it is sent to collections, you can fight it. If they file a lawsuit, hire a personal injury lawyer.
Wiki User
∙ 11y ago
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How can you tell if a life insurance policy has been cashed in?
Contact the company and ask them.
How do you know if a life insurance policy has been cashed in?
You call the insurance company claims department and ask them. You would have to be the owner or the beneficiary or rightful descendent of. 4lifeguild
Can you cash whole life insurance in?
You can but make sure it is the correct thing to do. Once cashed it you can never get it back. Depending on your age (over 45) and the policy value, you may get more money by selling it to a life settlement company. You can call 866-670-8189 for more information.
How can someone cash in an endowment policy?
Endowment Policies can be cashed out early for a fee that varies from company to company. Endowment policies are a form of life insurance that is paid in lump sum form.
Ihave just found an old insurance policy belonging to my mother who died 37 years ago how do i know if its been cashed or not?
Normally a policy docment is surrendered to the insurance company to initiate payment. As all insurance companies are different, check with the insurance company whether they have paid out on it and whether they have a time limit on claims.
How can you find out if a claim been cashed if you dont know the insurance company name?
you'll need to find out the insurance company name.
How can you tell if a life insurance policy has been cashed in?
Contact the company and ask them.
What happens to an auto insurance check if it is not cashed?
If it is not cashed it will eventually become void. Normally it says how many days the check is valid for on the front of the check. This is usually about 90 days. If this happens you can always contact the insurance company to have it reissued.
How do you know if a life insurance policy has been cashed in?
You call the insurance company claims department and ask them. You would have to be the owner or the beneficiary or rightful descendent of. 4lifeguild
Can 15-year-old insurance check be cashed?
Probably not. Try it and see. Call the company and ask them to re-issue.
Can you cash whole life insurance in?
You can but make sure it is the correct thing to do. Once cashed it you can never get it back. Depending on your age (over 45) and the policy value, you may get more money by selling it to a life settlement company. You can call 866-670-8189 for more information.
Can you appeal to car insurance for more money for crashed car after first offer has been cashed?
If hidden damage is discovered during the repair of the car, generally the insurance company will pay the increased amount (in fact, usually the repair shop just handles it with the insurance company and you don't even find out until you pick it up) If the car was totalled or you just cashed the check and didn't fix the car, not gonna happen.
How can someone cash in an endowment policy?
Endowment Policies can be cashed out early for a fee that varies from company to company. Endowment policies are a form of life insurance that is paid in lump sum form.
Ihave just found an old insurance policy belonging to my mother who died 37 years ago how do i know if its been cashed or not?
Normally a policy docment is surrendered to the insurance company to initiate payment. As all insurance companies are different, check with the insurance company whether they have paid out on it and whether they have a time limit on claims.
Can you stop payment on a check that has already been cashed?
No.
How can someone cash in endowments?
You can cash in endowments by visiting the financial institute or insurance company that provided the account. They can be cashed in upon maturity or the loss of a qualified loved one.
What would happen if I cashed a check from my health insurance company that is supposed to pay for an ambulance service less my co-pay?
If you cash the check from the insurance company, you will be billed for the ambulance services. The check should have been sent to the provider. so the company will have the write to bill you, less the copay and contractual allowance
