Is a life insurance policy public record? For the most part, life insurance policies are not a part of any public records. Life insurance proceeds are paid directly to a named beneficiary and therefore do not pass through a probate estate. The process of probate is the legal action that is taken by the estate court to prepare and distribute assets of the death of an individual. The logic behind keeping any life information out of the public eye a very well-thought-out because if the information were to be made available to the public, the result would be chaotic. Every fortune-seeker would be following life insurance beneficiaries and policyholders and pestering them forever about special...
Continue reading...
Our Products & Services: Permanent Life Insurance Insure your life for life Permanent life insurance is our signature product. It provides money to your family when you die, and builds cash value while you live. It’s guaranteed. It’s secure. It’s dynamic. Permanent life insurance is a great way to provide security for your family. It may be an ideal solution for people who are interested in: Providing money for final expenses so your family doesn’t have to. Replacing income so that your family’s financial life doesn’t have to change in case you pass away suddenly. Providing college funds for your children in case of an untimely death. Protecting your...
Continue reading...
It’s estimated that $1 billion in benefits from forgotten and lost life insurance policies are sitting unclaimed in America, says Consumer Reports. Could you be among the estimated 1 in 600 people who may be the beneficiary of an unclaimed life insurance policy? If so, there are ways to find out. Here are some tips to help. 5 WAYS TO LOCATE A LOST LIFE INSURANCE POLICY Comb the house. Sometimes the thing we’re missing is right under our nose. First, go through any files or safe deposit boxes where the lost life insurance policy may be before launching a full-fledged investigation. Think back to the beginning. Which insurance agent may have sold it? Which insurance company may have issued it...
Continue reading...
How can you find a reputable life insurance company? Look for these three attributes. Financial Strength It's great to support a new business when it comes to things like coffee or a haircut. (Hey, even if it doesn't work out, hair grows back, right?) But the life insurance company you choose is one you'll be sticking with for years — even decades — to come. As a result, you'll want to choose a company with longevity and experience. To gauge how long a company has been in business, you can check the "About" or "Company" page on its website. Financial strength is another indicator of long-term stability. Of course, you can't tell a company's financial standing just by looking at...
Continue reading...
Q. My mom passed away four years ago. Her six children were named in her will. Prior to her passing, her house and paperwork were disrupted and papers were missing. I was the executrix and was led to believe she had a substantial insurance policy which never surfaced. What can I do? A. Following up on paperwork after someone dies can be a challenge, especially when documents you expect to have are nowhere to be found. You didn't say if you knew which life insurance company you thought your mom did business with. If you do, you can start by calling the company to ask questions, said Yale Hauptman, an estate planning attorney with Hauptman and Hauptman in Livingston. "They would likely...
Continue reading...
Imagine delving under your sofa cushions for change and coming out with $80,000 in cash. That’s how it felt when Carolyn Williams discovered she was entitled to a surprise windfall of almost $4,000 a year for the rest of her life. Williams, a 62-year-old semi-retired financial planner in St. John’s, found out about her “lost” money while visiting friends in Britain, where she was born. She was bemoaning the fact that she couldn’t get a British government pension because she only worked for four years in England before moving to Canada when she was 23. But an accountant pal told her that she may be able to buy her way into the pension system—and he was...
Continue reading...
Unclaimed Life Insurance It's perhaps not too surprising that a large number of life insurance policies end up lost or forgotten. In many cases the people who took them out and kept up the payments died and might not have let others know of the policy's existence, for example. In other cases the policy might have accumulated some value, but the owner might have forgotten it and stopped keeping up payments. What you'll find, no matter what the situation, is that the unclaimed funds are those of people who've died. General estimates are that there's £2 billion pounds in unclaimed assets from insurance policies. Compared to unclaimed bank accounts that might be pretty small potatoes, but it's...
Continue reading...
Reclaiming Old Life Insurance Policies Every year, thousands of policyholders in Canada pass away. However, not all of their beneficiaries receive the death benefit they are entitled to. Since some beneficiaries don’t claim their rightful payout after the life insured’s death has occured, the insurance company has no way of knowing the insured has passed away. Some insurance companies assign a time limit for any claim to be made. If you are unable to discover your policy and claim it within a year, then you might not be able to get your share of the money. Discover your policy If you believe that there is insurance money, waiting out there for you then you should visit the policy search...
Continue reading...
Unclaimed property Unclaimed property is money held by Great-West Life which may be payable to you under the terms of an insurance contract or other financial product. This could include claim payments, policy pay outs or premium refunds. If you believe that you, or someone upon whose behalf you are acting, are the owner of unclaimed property being held by Great-West Life, you can initiate a search through the Ombudsman’s Office of Great-West Life. To initiate a search for unclaimed properties, please provide the following information to the Ombudsman’s office at Great-West Life and a representative will contact you within 30 days. The more information you can provide, the better our search...
Continue reading...
Turning detective to track down lost life insurance Share this with Facebook Share this with Messenger Share this with Facebook Share this with WhatsApp Share this with Messenger Image caption Finding the paperwork for Thomas and Mary Hewitt's lost life insurance policy was a challenge Have you lost or forgotten about an insurance policy, a bank account or pension? It could be among the estimated £20bn of unclaimed assets in the UK, but how easy is it to find it? Rod Hewitt contacted the BBC about his parents' lost insurance policies. In his childhood, he remembers a man coming to the door each week and collecting money from his mother for life insurance policies. For most of their...
Continue reading...
