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Making Sure Beneficiaries Get Life Insurance Money

Friday, October 26, 2012 - 5:57 AM
From NYT Bucks blog
This week, the American International Group became the latest insurance company to settle an inquiry by a group of state insurance regulators into the handling of death benefits, the payments to a beneficiary when the holder of a life insurance policy dies.

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2
Ken TuminKen Tumin5,473 posts since
Nov 29, 2009
Rep Points: 125,800
1. Friday, October 26, 2012 - 2:00 PM
What about the children of older parents from years ago who bought all these 5 cents a week policies and when they died had no idea who the beneficiaries were or if the policies were paid off or cancelled??  All the phone calls especially if the adult child moved out of state to the companies etc.  Now that is a job!!  That is why I typed up a folder of info for my DD so she will have directions for everything.  Hopefully, she will be sad I am gone so I don't want to cause her more grief by not knowing where things are and what to do about documents.  Problem is, to this date, I cannot get her to read the pages.  She seems to think I am infallable and she has plenty of time to be concerned about such things.  So even when "we" try to make it easier on our loved ones, sometimes they end up facing problems no matter what we do.
2
paoli2paoli21,406 posts since
Aug 10, 2011
Rep Points: 6,152
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