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If a life insurance policy is just (2) months away from maturing…

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If a life insurance policy...
If a life insurance policy is just (2) months away from maturing how can we fight to receive the full value of the policy?
Submitted: 3 years ago.Category: Legal
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5/21/2015
Lawyer: Maverick, Attorney replied 3 years ago
Maverick
Maverick, Attorney
Category: Legal
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Customer reply replied 3 years ago
My mother in law had a life insurance policy which she opened it looks like in 2011 and it should pay out after 2 years according to the paper work. We called the insurance company prior to death and the insurance Company (Colonial Penn) stated that everything was in good standing. She than passed 2 days later. We are struggling with the insurance company to pay out the full amount of the policy they stated that she had a lapse in coverage in 2012 which is over 2 years ago. The policy was restarted within 2-3 months from which we can determine which would bring us til around Jan 2013. She has not missed a payment since than. She passed away on 5/11/2015. The insurance company refuses to pay the full amount and we are lost on what to do. They still stating it was not the two year mark but will not give us the exact dates of the lapse and the restart. I was reading on line where they stated that any relapse would have a new account number. No new account number was issued that we can find (insurance company refuses to give us any account numbers) and we can't justify that the payment was not made or was made due to the person making the payment is deceased. The second issue is with a second policy which is a few months short they stated approx. around 2 months short of full pay out of the policy. Is there anything we can do? I don't know what additional information I can provide to you. I can have my husband reach out to the insurance agency if you can tell me what additional information I need to get from them if they answer our questions.
Lawyer: Maverick, Attorney replied 3 years ago
My mother in law had a life insurance policy which she opened it looks like in 2011 and it should pay out after 2 years according to the paper work.
1. Was this a policy that had a built in savings account from which she was to receive monthly payments?
2. If, not, then how was the policy supposed to work to the best of your understanding?
We called the insurance company prior to death and the insurance Company (Colonial Penn) stated that everything was in good standing. She than passed 2 days later. We are struggling with the insurance company to pay out the full amount of the policy.
3. What is the full amount of the policy?
4. What amount is the insurance company willing to pay?
5. What is your understanding of how this lower amount is being calculated?
they stated that she had a lapse in coverage in 2012 which is over 2 years ago. The policy was restarted within 2-3 months from which we can determine which would bring us til around Jan 2013. She has not missed a payment since than. She passed away on 5/11/2015. The insurance company refuses to pay the full amount and we are lost on what to do. They still stating it was not the two year mark.
6. Can you upload a copy of the policy or tell me in short how this 2 year term is tied to receiving a full payout.
but will not give us the exact dates of the lapse and the restart. I was reading on line where they stated that any relapse would have a new account number. No new account number was issued that we can find (insurance company refuses to give us any account numbers) and we can't justify that the payment was not made or was made due to the person making the payment is deceased.
7. Is there an executor appointed for mother in law's {MIL} estate?
The second issue is with a second policy which is a few months short they stated approx. around 2 months short of full pay out of the policy. Is there anything we can do?
8. Can you upload a copy of that policy?
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