How do i brand a claim on insurance policy near with the sole purpose restricted information in the order of company?
mother purchased policy on me in 1975 and paid it past its sell-by date in 1990. she has passed and so have father along with all information reguarding said policy. i solely have name of company DURHAM LIFE contained by raleigh nc established in early 1900s
Answers:
Great info others have given you. I hold a policy mom just mailed me, it be a baby burial plan worth a thousand, now 50 years subsequent its worth 665 cash payout now to me to end it, then I will pay probably 50 percent taxes on that amount. You can bread out some policies with you being alive. Get the info, weigh it out, and realise, when you die your kids will own to come up with thousands to bury you............so keep that contained by mind, its good to get the info in a minute. I hope it all works out to your benefit.
In 1992, Durham was aquired by Providian.
In 1996, Providian's life insurance component was sold to Aegon.
http://www.aegonins.com/FAQStandAlone.as…
1. There may NOT be a policy.
From what I can see, the policies are set up as whole go and do build cash value. When the buyer stops paying, the adjectives premiums are held out of the cash value. The costs hold skyrocketed in recent years and if the cash importance was depleted, they would have asked you/your monther to start paying again. if they get no response, the policy would lapse.
2. To pursue this, you call Durham Life and provide your name, mom's heading, the old address, your SSN, etc. They can tell you if you STILL hold a policy and whether any cash value remains.
3. You do work out that aside from cash value, natural life insurance on you only pays if YOU die.
You can't claim on a policy, if the insured individual - you - isn't dead.
But you can contact them, they've merged into Monumental Life. If there REALLY is a compensated up policy on you, they'll have it.
But most likely, it lapsed or be cashed in. If it IS still in force, it will own to be probated through your mother's estate before you can take it over.
Monumental Life Insurance Company
(a applicant of AEGON USA Group)
A.M. Best #: 06742 NAIC #: 66281 FEIN #: 520419790
Address: 4333 Edgewood Road N.E.
Cedar Rapids, IA 52499
UNITED STATES
Phone: 319-355-8511
Fax: 319-355-2210
Web: www.aegonins.com
This rating is assigned to companies that have, in our inference, an excellent ability to meet their ongoing obligation to policyholders.
Best's Ratings
Financial Strength Ratings View Definitions
Rating: A (Excellent)
Affiliation Code: g (Group)
Financial Size Category: XV ($2 Billion or greater)
Outlook: Stable
Action: Downgraded
Effective Date: April 23, 2009
Others gave great answers. I will purely add that if there is change value in the policy and/or dividends ask if in that will be a taxable gain if you cash it in BEFORE you brass it in. You may just want to hold the policy running.
Make an informed decision before cancel it. You also might roll over the money into another policy, such as an annuity. Ask about that.
Related Questions:
Answers:
Great info others have given you. I hold a policy mom just mailed me, it be a baby burial plan worth a thousand, now 50 years subsequent its worth 665 cash payout now to me to end it, then I will pay probably 50 percent taxes on that amount. You can bread out some policies with you being alive. Get the info, weigh it out, and realise, when you die your kids will own to come up with thousands to bury you............so keep that contained by mind, its good to get the info in a minute. I hope it all works out to your benefit.
In 1992, Durham was aquired by Providian.
In 1996, Providian's life insurance component was sold to Aegon.
http://www.aegonins.com/FAQStandAlone.as…
1. There may NOT be a policy.
From what I can see, the policies are set up as whole go and do build cash value. When the buyer stops paying, the adjectives premiums are held out of the cash value. The costs hold skyrocketed in recent years and if the cash importance was depleted, they would have asked you/your monther to start paying again. if they get no response, the policy would lapse.
2. To pursue this, you call Durham Life and provide your name, mom's heading, the old address, your SSN, etc. They can tell you if you STILL hold a policy and whether any cash value remains.
3. You do work out that aside from cash value, natural life insurance on you only pays if YOU die.
You can't claim on a policy, if the insured individual - you - isn't dead.
But you can contact them, they've merged into Monumental Life. If there REALLY is a compensated up policy on you, they'll have it.
But most likely, it lapsed or be cashed in. If it IS still in force, it will own to be probated through your mother's estate before you can take it over.
Monumental Life Insurance Company
(a applicant of AEGON USA Group)
A.M. Best #: 06742 NAIC #: 66281 FEIN #: 520419790
Address: 4333 Edgewood Road N.E.
Cedar Rapids, IA 52499
UNITED STATES
Phone: 319-355-8511
Fax: 319-355-2210
Web: www.aegonins.com
This rating is assigned to companies that have, in our inference, an excellent ability to meet their ongoing obligation to policyholders.
Best's Ratings
Financial Strength Ratings View Definitions
Rating: A (Excellent)
Affiliation Code: g (Group)
Financial Size Category: XV ($2 Billion or greater)
Outlook: Stable
Action: Downgraded
Effective Date: April 23, 2009
Others gave great answers. I will purely add that if there is change value in the policy and/or dividends ask if in that will be a taxable gain if you cash it in BEFORE you brass it in. You may just want to hold the policy running.
Make an informed decision before cancel it. You also might roll over the money into another policy, such as an annuity. Ask about that.
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