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Started By
Message
Advice on American General Life & Accident Insurance Company
Posted on 8/27/12 at 10:30 am
Posted on 8/27/12 at 10:30 am
Has anyone dealt with this company before? My grandfather received a letter stating his life insurance policy is maturing in October of this year. The thing is, my grandfather passed away in 2000. We call the insurance company and they stated the beneficiary of the life insurance policy was my grandmother, who passed away in 1988. I just found it odd we are now hearing of this insurance policy.
My questions are: could this be a fraudulent claim(Someone stole my grandfather's social security number). How long usually does an life insurance policy takes to mature? I find it odd that my grandfather would take out an insurance policy so late in life or an insurance company would underwrite an insurance policy. I believe he would be 96 years old today if he was still alive. I don't want to send information to the insurance company and get screwed out of something if it is fraudulent. They are asking for a death certificate and succession of my grandfather.
FYI, grandfather suffered a stroke in or around the early 1990's and my father became power of attorney over him and he never mentioned this insurance policy.
Any help would be appreciated.
My questions are: could this be a fraudulent claim(Someone stole my grandfather's social security number). How long usually does an life insurance policy takes to mature? I find it odd that my grandfather would take out an insurance policy so late in life or an insurance company would underwrite an insurance policy. I believe he would be 96 years old today if he was still alive. I don't want to send information to the insurance company and get screwed out of something if it is fraudulent. They are asking for a death certificate and succession of my grandfather.
FYI, grandfather suffered a stroke in or around the early 1990's and my father became power of attorney over him and he never mentioned this insurance policy.
Any help would be appreciated.
2
Posted on 8/27/12 at 10:35 am to dneverever
Company is legit. Have your dad call, let them know both insured and beneficiary are deceased. Since your dad has POA, they should speak to him once they verify info. They likely need a certified DC for both of your grandparents, before they can process the claim. Was a contingent beneficiary named?
Posted on 8/27/12 at 10:47 am to iknowmorethanyou
Well my grandparents had two children during the marriage, both of them boys. My dad died of cancer in 1999 and my uncle died 2 weeks before by grandfather passed away (Grandfather outlived his direct family unit). So the heirs of my grandfather were the grand-kids. Three (including me) on my father side and 7 on my uncle side. So if a contingent beneficiary was named, it would probably be irrelevant.
It makes me wonder if my grandfather signed up for this life insurance policy after he served during WW2. Do you know how long an average life insurance policy takes to mature. The insurance company was being vague about the information about the policy (I assume for security reasons). They told me to send the death certificate and succession first and they would send me information about the policy within a 5-7 business days. I just wanted to be safe before I send this information to a company I never heard of before.
It makes me wonder if my grandfather signed up for this life insurance policy after he served during WW2. Do you know how long an average life insurance policy takes to mature. The insurance company was being vague about the information about the policy (I assume for security reasons). They told me to send the death certificate and succession first and they would send me information about the policy within a 5-7 business days. I just wanted to be safe before I send this information to a company I never heard of before.
Posted on 8/27/12 at 11:34 am to dneverever
What I know said. The company is a legit company.
Posted on 8/27/12 at 11:45 am to dneverever
I personally have not seen any policies that mature at age 95, but that's not to say that those type contracts don't exist.
It seems as though the lines of communication are open between you and the Company. I would feel confident furnishing them with the information they've requested if I were in your position.
All of this seems 100% legit to me.
It seems as though the lines of communication are open between you and the Company. I would feel confident furnishing them with the information they've requested if I were in your position.
All of this seems 100% legit to me.
Posted on 8/27/12 at 11:48 am to iknowmorethanyou
Thank you for your help. 
Posted on 8/27/12 at 2:37 pm to iknowmorethanyou
I've run into some policies that mature at 95, so no shocker there.
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