Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Should we cash the check?
Old 12-18-2017, 12:02 PM   #1
Recycles dryer sheets
TrophyWife's Avatar
Join Date: Feb 2016
Posts: 158
Should we cash the check?

Does cashing a life insurance policy exclude you from collecting further benefits if we find out the amount is not correct.

TrophyWife is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-18-2017, 12:32 PM   #2
Thinks s/he gets paid by the post
dtbach's Avatar
Join Date: Apr 2011
Location: Madison
Posts: 1,276
I think you need to elaborate a little on this.

Wild Bill shoulda taken more out of his IRA when he could have. . . .
dtbach is offline   Reply With Quote
Old 12-18-2017, 12:55 PM   #3
Recycles dryer sheets
Maenad's Avatar
Join Date: Oct 2012
Location: Minneapolis 'burbs
Posts: 356
This may be something that's better to discuss with a lawyer than a bunch of anonymous yahoos on a message board.
Maenad is offline   Reply With Quote
Old 12-18-2017, 12:59 PM   #4
Thinks s/he gets paid by the post
Join Date: Aug 2014
Location: Chicago West Burbs
Posts: 1,299
Your recourse for the wrong amount might be to correct that check. I don't think while you are in that process that the policy would still remain in effect. (i.e. no death benefit or loans)

I wouldn't cash the check until everything was worked out to some agreement.

but..... more info please.
CRLLS is offline   Reply With Quote
Old 12-18-2017, 01:15 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 24,707
Originally Posted by dtbach View Post
I think you need to elaborate a little on this.
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 65/35/0 AA
pb4uski is online now   Reply With Quote
Old 12-18-2017, 01:18 PM   #6
Thinks s/he gets paid by the post
OldShooter's Avatar
Join Date: Mar 2017
Location: City
Posts: 4,056
Originally Posted by dtbach View Post
I think you need to elaborate a little on this.

A great deal depends on the magnitude of the check, the magnitude of the dispute, and whether the back of the check includes a release.

If serious money, an attorney is much better than SGOTI.

If not serious money, I would call the insurance company's customer service and get them to say that it's ok to cash the check, then verify with the rep that you are on a recorded line. Get the rep's name and employee id, then log the time and make notes of the conversation. Better, record it. In many states it is legal to record a conversation if either of the parties is aware of the recording. But since they are recording anyway, I would go ahead and do it regardless of state law.

OldShooter is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Law school debt (check), debt paid down (check), retirement (...) WhatsinaName Hi, I am... 7 08-13-2014 03:13 AM
cash on cash rate - what should it be DollahBillYall Young Dreamers 20 06-15-2007 07:14 AM
Is it income if you can't cash the check? lifeisgood FIRE and Money 16 01-01-2007 03:50 PM
Fan lined up?check.Excrement ready to hit? check poboy Other topics 130 04-23-2006 09:48 PM
Living Check To Check: Saving Too... MYPROcheckGRESS Young Dreamers 38 02-16-2006 04:36 PM

» Quick Links

All times are GMT -6. The time now is 09:38 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.