Read my post again. I didn't say she didn't know which insurance company it was. I said she couldn't find the insurance policy, and the company wouldn't pay without it.If she continued to pay the premiums after his death, wouldn't she know which insurance company it is?My MIL. Her husband (DW's father) died when DW was a teenager. There was supposed to be insurance on the mortgage that would pay off the balance if he died first. She couldn't find the insurance policy, and company wouldn't pay her without it. So she ended up working years making monthly payments and finally payed it off.
She retired at 65 and moved into an apartment. When they were clearing out the house she came across the policy. (I don't know if he hid it for safety or what.) So she phoned the insurance company, and they gave her exactly zero dollars. The policy was to pay any unpaid mortgage, and since she had paid it all off the balance was zero. What a way to screw an old lady who worked all her life.
and, if she didn't know, then premiums will be stopped ca using the policy to lapse, so the company has no obligation
Statistics: Posted by cheese_breath — Thu Aug 29, 2024 8:56 pm — Replies 18 — Views 1503