Related to the recent scammer thread and unclaimed money.
I regularly check my state’s unclaimed money database, especially since my parents passed away a few years ago. My brother’s name shows up, I know it’s him because of the former addresses listed. His name appears like 19 times, he passed away 20+ years ago. I know exactly what it is for, our parents enrolled us a life insurance policy back when we were young, I was 2, my brother was 4. I get a check every year for about $50 for the insurance dividend and (I guess) the rest of the dividend covers the premium so it is always paid up.
So despite me explaining to my sister in law and showing her the paperwork, phone numbers, addresses, etc… she needs to claim the money so she can get the death benefit and dividends, she refuses to do so because she says it’s too much work. Might also be some other (mental/depression/letting go) issues involved. She isn’t rich by any means, she lost her house because she couldn’t afford the property taxes, and in my mind could use the money.
Question- IF and when she files a claim does she get to collect the dividends that were paid out after he died?
How many years does the insurance company keep paying dividend checks when nobody is cashing the dividend checks?
If I, as his brother, notified the insurance company and tell them this guy died 20 years ago, would they believe me or at least look into it?
I would think they would have paid out the policy as of the date of death and there would have been no more dividends, assuming they were notified of his death.
Maybe she is under the assumption that if she continues to wait and more dividends are paid she can collect that money along with the death benefit in a few years. Wouldn’t put it past her to be thinking that way.
There must be a process for reporting next-of-kin for someone else who is not competent. I assume the department is looking for a claimant, not bureaucratically trying to exclude someone because they did not report it themeselves. “Sorry, you didn’t fill out Form 659 in triplicate and provide power of attorney cert…”
I do not have a copy of his death certificate, was no reason for me to have one.
I have done about everything thing I can do for her short of holding her hand to fill out the paperwork or dial the phone number. I think she truly doesn’t want to deal with it in any capacity.
Now this thought. They were only married for about 5 years before he died. What if my parents were still listed as the beneficiary? They both have died and I along with my siblings and my brother’s child was the recipient of their estate. Would it go to us instead of his wife?
In some states you can order a copy of the death certificate, you would just say you were the person’s brother, and that would be enough. In other states, you have to have a specific interest, for example, being the executor of an estate.
Even if you do call the insurance company, I suspect they are going to want to see that the certificate before they do anything.