Is There A Time Limit On Redeeming A Life Insurance Policy?
Posted July 25, 2009 – 4:23 pm in: structured settlements FAQWhen my brother died unexpectedly at the age of 37 our family was not able to locate the life insurance policy. It had found its way into my grandmother’s papers when she retired to Florida and we didn’t find it until recently, about fifteen years after my brother’s death. Can we still redeem it?
Tags: Insurance, Life, Limit, Policy, Redeeming, There, Time
5 Comments
Life insurance is actually very flexible. Since I’m from Louisiana I’m not sure about Florida laws and regulations, so I suggest you call a nearby life insurance agent. http://www.easylifeinsuranceguide.com/Florida-Life-Insurance.html They will be able to assist you.
as long as the policy is inforce you can make a claim on it. Even if it has lapsed since your brothers death and can prove that he was insuranced at the time of death then you should be able to make a claim. Call the company and discuss it with them. If they don’t help you discuss it with a lawyer to see if you can sue for the money (if it was inforce when he passed away)
There is not a time limit. If they knew your brother had died then they have just been holding the death benefit and crediting a minimum interest rate on it and earning a spread until the named beneficiary came along.
You just have to contact the insurance company and get the claim forms.
Absolutely yes you can still claim it. That is as long as the policy is still in force and did not cancel. Call the company ASAP and put in the claim.
At this point you might have to contact the Department of Insurance in Florida for help.
There is no time limit to redeem. Contact them..