What to do about life insurance proceeds erroneously paid out?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What to do about life insurance proceeds erroneously paid out?
My wife was notified by an insurer that she was a beneficiary of her uncle’s life insurance policy. She filed the paper work and it set up her account and sent her checks we wrote a check for the full amount and it cleared into out bank account over a month ago. Now it i saying that she is actually not a beneficiary and it wants the money returned. Do we really have to pay this back? What should we do?
Asked on May 7, 2012 under Insurance Law, Michigan
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Yes, I think that you really may have to give it back. I would ask the insurance company to give you a full explanation, in writing, as to what happened as well as a copy of the policy. Then I would speak with a lawyer once you have the documentation. Do not spend it until you get the full story and explanation. Just in case. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.