 Who keeps/gets the depreciation on insurance claims? |
| My house was damage a month ago by hail and i been in the process of hiring a contractor. I know that depreciation is the wear value of what something is worth over time. What i want to know is who ... |
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 Would you consider buying a rental insurance? |
| I've recently heard about if something should happen (like a fire), our belonging won't be insured by our landlord's insurance policy. I'm thinking about signing a renters insurance, which would ... |
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| Term or Life insurance, what would be your choice? |
| I'm 32 years old, I have a working wife (she makes a little more money than I'm doing right now) and a dependent, a 3 years old daughter. I've never thought before to insure my life or something like ... |
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| I'm not sure insurance plans are worth the money |
| I've done some checkins related to our insurance plan. Let's see: my wife and I pay around $380 a year. The thing is that none of us has been to the dentist this year, so we don't use our insurance. I... |
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| I'm not sure insurance plans are worth the money |
| I've done some checkins related to our insurance plan. Let's see: my wife and I pay around $380 a year. The thing is that none of us has been to the dentist this year, so we don't use our insurance. I... |
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| Are extended auto warranties worth the money? |
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I intend to buy a nice, quite cheap new car and was thinking if I need an extended car warranty. The one offered by the manufacturer is pretty standard: a three-year, 40.000 mile warranty. The type ... |
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| What do you think about Medicaid? |
| What do you think about Medicaid and the people who use this public health service? Do you or did you use this? When my sister got pregnant, she got Medicaid to cover her pregnancy and delivery. Some ... |
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| Ebay alternative? |
| I'm interested in an PayPal alternative, because in my country I cannot make purchases through Paypal. ... |
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| Progressive auto rates? |
| I signed an car insurance with progressive auto rates. First, they cost me 100 bucks a month and after three months they jumped at 200 bucks a month. If i don't pay them until the due term, I will ... |
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| How do you send money to your life partner avoiding the fees? |
| We agreed on not having joint accounts, which works for both of us. But when it comes to sending money from a bank account to another, we don't know how to proceed without paying fees. One solution ... |
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| How can I begin to build a good credit score under 21? |
| As stated in my question, I'm almost 20 and I have no credit history. I want to built my credit score to be able to obtain a line of credit for a car I want. Is it possible for me to obtain a ... |
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| Which bank can offer me the highest annual interest rate? |
| Which is the highest interest rate I can get and at what bank? I want to deposit my money into a savings account (around $100.000 a year) for a long period of time. I wanted to insure them, so I'm ... |
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Brandon S | What to do when Term Life Insurance plan is cancelled and not transfered? |
My mother was diagnosed with cancer a year and a half ago and worked up until last December.
She had a $150,000 term life insurance plan through her old employer also. We just found a letter that we received around 4/18 saying that her benefits from work were going to be canceled on 4/18, this included her life insurance plan. They said the insurance company (Met Life) would contact us with details on how to transfer the policy or we could call a number. We were too busy caring for her at the time to deal with this.
We finally received the transfer papers from Met-Life today 5/20, a week and a half after she passed away on 5/8.
They tell us it is too late to transfer her plan and we cannot collect the the life insurance money. Is there any requirement for the insurance company to contact us in a hasty manner? Is there any way to transfer the policy now? I just saddens me to think that she died 3 weeks too late for us to receive the life insurance plan she paid for. |
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David & Elizabeth S
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Sorry to hear about your loss. Check the policy and see if there was a grace period on the term policy she had from her employer. Many times policies will have a grace period of 30 days. I even worked for a company that granted a 60 day grace period to pay benefits before a policy lapsed.
You can't transfer the policy or convert it now that she has passed away so i would check about the grace period maybe she still had coverage.
You should contact your state's insurance department to see what your rights are. |
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mbrcatz
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Good questions.
And the answer is, it depends. If the policy would be transferrable, with guaranteed insurability, then you should still be able to return the transfer papers. The thing is, the executor of her estate would have to sign for her.
I would file a complaint, in writing, with your state insurance department. The delay on the part of Met is what cost you the coverage. |
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