Beneficiary can't be found
- Thread starter Green50
- Start date
- 4,927
Why not just call the carrier? They probably have a procedure in place for this and other weird scenarios.
- 19,969
Someone has to make the claim.
I've had that situation several times.
I've been able to hunt them down and get a claim filed on all but one.
That one has been about 7 years now.
About once a year I still try to locate someone.
I've had that situation several times.
I've been able to hunt them down and get a claim filed on all but one.
That one has been about 7 years now.
About once a year I still try to locate someone.
- 31,307
After you track them down, do you turn them in for the reward?
- 19,969
Ha!
None of mine were running from the law. They didn't know there was a policy. They are my best friends now.
But the reward thing is a good idea.
- 2,898
No. Not without the authorization of the beneficiary or a court order.
If a claim is not made the death benefit will eventually escheat to the state where it will be held as unclaimed funds until the beneficiary claims it.
Notify the carrier of the death of the insured.
If I'm on the run from the law and someone called me and said that I am a beneficiary of anything, my first thought would be "nice try, law enforcement. I'm not falling for that"
I have some customers, husband and wife, who are each others' beneficiaries and have disappeared. Between their three policies, it's about $350/mo and their APLs are about to run dry. Their phone numbers don't work, mail gets returned and they live pretty far away. A friend went to DK them for me and said the house looked abandoned. I can't find any hint of obituaries for them online. I don't know what to do. Their policies are about four yrs old.
- 31,307
Maybe JD could hunt them down for you.
- 19,969
For the reward.
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