My mother passed away and in her old papers I found ins. policies. who could help me.?

Answer 1

There might be an agent listed on the policy. Call the agent. If there's no agent listed, contact the insurance company.

Answer 2

Same thing happened to me.

Old insurance policies may have lapsed but our grandparents generation kept everything.

1. Find the name of the insurance carrier on the policy and call information to get the latest "Customer Service" number for that company. It's probably changed since the policy was taken out.
NOTE: Getting to the right insurance company could be a problem. If the company has been bought out by successive companies, you may have to call your state department of insurance for help in finding what the company is called now. Be persistent. If a company buys out another company, they have to pay the claim.

2. Tell the Customer Service Rep (CSR) what you found and have the policy number ready. Your grandmother's birthdate and SSN might also be helpful - and necessary if you don't have the policy numbers.

3. If the policy was in force when your grandmother died, the beneficiary of the policy will get the face amount (net any loans + interest). Ask to be transferred to the "Claims" department.

4. If the policy lapsed prior to death, it is worhless and should be shredded (not just thrown away - lots of personal information inside).

If you are not the beneficiary, or the beneficiary has also died, the policy can be paid to the estate of the deceased. You will need to identify the executor of your grandmother's estate or next of kin. Have all of that information ready for the claims CSR.

Typically, claims are paid upon receipt of a registered or certified death certificate and the insurance policy, although the latter is not needed to collect the death benefit within a week to two weeks. If the beneficiary or the estate does not receive a check from the carrier within that time frame, another call is in order.

Proceeds from a life insurance policy are almost always tax free to the beneficiary. However, consult with a competent tax advisor before the money is spent. Death benefit amounts are includable in the estate of the deceased for calculation of estate taxes, if any.

Final note: Unless you have a trusted relationship with the person, do not go to a life insurance agent. They can't do anymore than you can...if fact, they can't do as much. An agent out of the telephone book won't be helpful, usually, because they do not receive any compensation for helping you. And, they might take the opportunity to try and sell you insurance.

Hope that helps. Good luck!

Answer 3

Were they term life or permanent life policies?

If they were term life, you will only get the money if she died before the end of the term. Look at the policy and see.

If they were permanent life policies, you should be able to collect as long as the policies were in force (paid up) at the time of your moms death.

Contact the insurance company or the agent listed to file a claim.

You should also do a search on your states unclaimed property website (usually under dept. of the treasury) for your name and your moms to see if there are any other unclaimed funds.

Answer 4

Contact the insurance companies to notify them of the policy holder's death. They will see what policies are still in place and can be disbursed. They will require a claimant statement be filled out by each beneficiary and accompanied by certified death certificates. Those can be acquired from local office of vital statistics. Don't expect things to be processed immediately, they take time.

Answer 5

The insurance companies. Look up their contact information, and call them with the policy numbers! They'll walk you through whatever you need to do.