MIB, an insurance trade association, offers a policy locater service for a fee. For more information about this service, visit MIB's Web site: http://www.mib.com/html/lost-life-insurance.html.
Whichever company wrote the policy should have a copy of it.
Usually - as much as it was agreed upon at the time when the insurance was bought. When we buy an insurance policy, a maturity value is usually mentioned in the policy document. So, in all probabilities your insurance policy is worth as much as mentioned in the document. Also, since it has been 17 years since the policy was taken, it is possible that the policy has expired or lapsed. In that case, the policy is worthless today.
My best friends mother passed away last August. She had spoke of a life insurance policy that she had taken on herself years before she passed away,however no one in the family knows how to locate it. What steps do the family need to take to find this insurance policy?
A decreasing term life insurance policy is one that offers a steadily declinintg life insurance benefit as the years go by. This kind of policy is often called "mortgage protection" term life insurance and is often bought for a length of time that matches one's mortgage period.
how do you lacate a life insurance policy that was with southern life and health insurance company 30 years ago
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.
A life insurance policy can be had from 0 age (child policy) to a person of maximum 65 years (pension policy).
The Contestability Period in a life insurance policy is usually two years. You can find this by looking at the "Incontestable Clause" in your life insurance policy The Incontestable Clause states that after the life insurance policy is in force for two years, the insurance company cannot void it because of misrepresentation or concealment by the insured in obtaining the policy.
To make a policy paid up depends on the length and type of the policy. If the policy is coverage for a year, then you would have to pay 12 months to have it paid up. For further information, please give our more detailed information regarding the type of policy and what type of coverage you bought.
Hope your brother shares!
The Incontestable Clause in a life insurance policy states that after the policy is In Force two years, the insurance company cannot void it because of misrepresentation or concealment by the insured in obtaining the policy.
The legal right to the money requested in the claim goes to the person who is named in the policy. Regardless of who was paying the premiums.... (even if the sons made the claim to fix something) Mom has her name on it she will be named on the check and will be the rightful recipient to the claim.