Life insurance benefits typically are not paid until a beneficiary files a claim after a policyholder dies. But family members often are unaware that their deceased loved ones had a policy, and insurers historically have made little effort to learn when their policyholders die and track down beneficiaries.
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2 comments:
its the insured job to know. the insurance companies shouldnt have to waste their resources because some knucklehead didnt feel like planning!
we get that all the time here (i work in insurance). people never want to see their agent or give them any information because "that agent just wants to sell me something!"
We were contacted by AXA about a month ago, pertaining to a policy my Pops had started back in the late 70's. Nobody knew of it, or had found out about it in the 3.5 years after his death. Got the check in the mail yesterday, 32K for something none of us even knew about.
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