Should we cash the check?

[TrophyWife]

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

 

[dtbach]

I think you need to elaborate a little on this.

 

[Maenad]

This may be something that's better to discuss with a lawyer than a bunch of anonymous yahoos on a message board.

 

[CRLLS]

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.

 

[pb4uski]

I think you need to elaborate a little on this.

+1

 

[OldShooter]

I think you need to elaborate a little on this.

+1

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.