This may be old news or no news for some of you out there.
When I retired 25 yrs ago from a major corporation, we were given two "Paid UP" life insurance policies from a notibale Life Insurance Company. One was about 5 times more than the other.
Earlier this year, we attempted to get our records and contacts straightened out, just in case. Both of the policies were on the fancy form of the insurance company. When I contacted the recognizable by name company I was informed that I had "cashed in" the larger of the two policies some 23 years ago. Of course neither of us could remember taking such action, and it is still listed our trust/will documents. We asked the for a copy of their records and was informed that they have no way of providing a copy of the transaction or check because it was such a long time ago. They did send a copy of a ledger page, with everything blanked out except a single line that listed a date, name and amount. As far as they were concerned that was proof that I had requested and recieved payment.
They also informed us that " no payments" had been made on the smaller policy and it was probably also dropped. They didn't even have a record of this policy. The corporation I retired from said the smaller "paid up" policy was good and will be paid by them. They couldn't offer any help with the other policy.
MORAL OF THE THREAD--- don't believe everything you are told, even if it is in writing. Take control of your life and keep the green side up
This may be old news or no news for some of you out there.
When I retired 25 yrs ago from a major corporation, we were given two "Paid UP" life insurance policies from a notibale Life Insurance Company. One was about 5 times more than the other.
Earlier this year, we attempted to get our records and contacts straightened out, just in case. Both of the policies were on the fancy form of the insurance company. When I contacted the recognizable by name company I was informed that I had "cashed in" the larger of the two policies some 23 years ago. Of course neither of us could remember taking such action, and it is still listed our trust/will documents. We asked the for a copy of their records and was informed that they have no way of providing a copy of the transaction or check because it was such a long time ago. They did send a copy of a ledger page, with everything blanked out except a single line that listed a date, name and amount. As far as they were concerned that was proof that I had requested and recieved payment.
They also informed us that " no payments" had been made on the smaller policy and it was probably also dropped. They didn't even have a record of this policy. The corporation I retired from said the smaller "paid up" policy was good and will be paid by them. They couldn't offer any help with the other policy.
MORAL OF THE THREAD--- don't believe everything you are told, even if it is in writing. Take control of your life and keep the green side up