Jump to content
Sign in to follow this  
Donttryit74

Life insurance

Recommended Posts

Greetings,

         At some point in time someone in my family took a life insurance policy on myself.I believe I was a minor at this time.Recently as events did not add up I began to wonder about this policy the particulars of it and so on.

     When I pressed I was told the name of the company where it supposedly exist.Upon contacting the company via teleconference I was told both parties had to be present to discuss this.

    When I really had a tirade the party whom took the policy said I could have it and they'd check on it.They returned the information that it had no cash value.

     I wonder can I force the company to pay as I do NOT consent to the policy.

Share this post


Link to post
Share on other sites

In your case the person who took out the policy on you is the owner of the policy, you are the insured, someone is the beneficiary, likely the person who took out the policy.

 

Yes, the owner of the policy would have to authorize the insurance company people to discuss it with you.

 

You were a minor. That family member did not need your consent to insure you.

 

If the policy was term life insurance there is no cash value and the policy would only pay out when you are dead.

 

If the policy was some variation of whole life insurance, depending on how long ago the policy was issued, there might not be any appreciable amount of cash value because the cash value accumulation doesn't start right away and then builds very slowly.

 

It would help if you had the actual policy in your hand so we can discuss it further.

 

 

Share this post


Link to post
Share on other sites
18 hours ago, Donttryit74 said:

When I really had a tirade the party whom took the policy said I could have it and they'd check on it.

 

What does "I could have it" mean?

 

What is this person's relationship to you?  Parent?  Sibling?  Third cousin twice removed?

 

 

18 hours ago, Donttryit74 said:

They returned the information that it had no cash value.

 

Who are "they"?  What type of policy is it (term or whole)?

 

 

18 hours ago, Donttryit74 said:

I wonder can I force the company to pay as I do NOT consent to the policy.

 

Force the company to pay what?  The benefit from a life insurance policy is payable upon the death of the insured.  Since you appear still to be living, why would the company pay anything to anyone?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...