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Question for the Money Doctors

Question submitted on Aug 22, 2013.

Question

My neice has given my husband, her uncle, power of attorney over her deceased Dad estate. She never filed on a life insurance policy he had with New York Life. He died in 2009. Is there a time limit in which she could file?

Answer

Thank you for the question. No, it isn''t too late for your niece to file a claim with the life insurance company. She should contact New York Life and inquire as to how to file a claim. Most likely they will mail a claim form that she will fill out. She will need the death certificate as well. Once they receive the claim and verify the information, they should pay the death benefit to the beneficiary named on the policy. Please note, it doesn''t matter what his Last Will and Testament stated the life insurance company will pay to the beneficiary listed on the policy. I hope this helps.


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