life insurance beneficiary Archives

Terrorist’s life insurance policy can be seized by US government

August 15, 2016August 12, 2016 Nordstrom

A federal judge has ruled that the payments on the policy of the San Bernardino killer can be taken by the government. A federal judge ruling says the U.S. government can seize the life insurance policy of Syed Rizwan Farook. Farook was one of the extremist terrorists involved in the murders in San Bernardino last year. The murderer purchased life insurance coverage near the time he was planning the terrorist attacks. He and a friend, Enrique Marquez – an extremist Muslim convert – planned terrorist attacks together. He started with…

Life insurance companies actively seeking out beneficiaries

May 29, 2013May 27, 2013 G. Turner

The industry is recommending that policyholders take actions to help to make sure death benefits are received. The life insurance industry has been facing some hurdles across many states as many companies have not made extensive efforts to locate the beneficiaries of policies belonging to individuals who have died. Insurers are now making a number of changes as states alter their requirements to find beneficiaries. However, the industry is also recommending that policyholders take a few extra steps to help to make sure that the money that they are paying…

Life insurance policy beneficiaries can help to ensure they receive their due

November 4, 2012April 30, 2013

There are ways for people to find a deceased person’s coverage even when no record was left. Beneficiaries of life insurance policies have struggled with the ability to collect the payout from the coverage when their deceased loved one has failed to leave any record of the insurer or any other identifying information. Though recent crackdowns have encouraged insurers to make a larger effort, beneficiaries can do their part. There is no central database that a beneficiary can call in order to find out what life insurance company sold the…

Life insurance policies are frequently unclaimed

September 22, 2012September 22, 2012 Julie Campbell

Policyholders are being advised to take care when naming their beneficiaries. Over the last while, concerns have been growing over the number of life insurance companies that are not paying off the policies to beneficiaries when the policyholders die. The problem is that many beneficiaries don’t realize that they hold this position. Many consumers are failing to tell their loved ones when they take out a life insurance policy or don’t tell them that they are the beneficiaries. This makes it far more challenging for the insurers to make sure…