Yesterday while at work I got a call from my grandmother that something was going on with my dad and no one could get ahold of him. I'm most worried about my mother, and her guilt. We are currently trying to figure out what is going on with his Term Life Insurance policy, telling the insurance company his name and social security was not enough to pull up (anything at all) in their system?, and my friends lawyer mom said the only way was to see what company issued his policy and check his bank records to see who he was paying for the policy/ if he was paying up to the past 6 months. My sister is only 16, I am a 25 year old woman myself. I think I am a lot like my father, I have lost my childhood best friend to addiction around 20 years old and last year my other friend was hit by a car and suffered a fatal brain injury. How can I be there for my family right now? How can I live with this grief moving forward?
What works for others? Has anyone been through something similar? Is there anything I can do to alleviate financial strains? As in funds or programs or something I can look into? How can I help to ensure my mom can get access to his bank account/term life insurance policy? How can I show up for myself? How can I remember him without feeling, for lack of more positive articulation at the moment, absolutely gutted? Please, flood the comments with anything you are able to offer in terms of information or prayer.
Thanks in advance. Rip my only father and the onl man i have ever truly loved with all my heart.
My father took his own life yesterday/Help understanding gaining access to term life insurance policy information
byu/Internal_Safety_952 inInsurance
Posted by Internal_Safety_952
5 Comments
There is normally a two year wait on coverage for people who take their own life. If policy had not been in place for at least 2 years likely no coverage. There might be some more relaxed rules for group plans if he had it through work. Finding who the coverage is with is the first step.
I’m so very sorry for your loss. Most insurance policies do not pay out when suicide is the cause of death. If you have contact information for the insurance company the customer service team should be able to tell you what information is needed so that you can gain access to the policy information. Regarding the financial accounts, if your mom wasn’t named on the account or listed as a beneficiary or it wasn’t set up as payable on death to a specific person you will need to start a probate case.
Sorry for your loss.
Was your dad working? He may have had term insurance through his employer. You would want to talk to someone at the company with knowledge of employee benefits.
As has been suggested, try to find out where his money was going. If he was making premium payments to an insurance company there would be a record of that.
Life insurance in many cases will be paid out even if the cause of death is suicide. Although there is a two year contestability period where a suicide would not be paid. If he had been paying longer than two years you are in the clear.
Best wishes to you and your family.
i believe current standing the policy was over two years old and proper paper work was found, thank you to everyone in the replies for being helpful and responsive. it means a lot to me
Take a deep breath and slow down. Start a list of things that need to get done and then you can prioritize then in order of importance.
Start with thinking what to do with your father’s remains. Services? Burial or cremation? Cremation is the best for the environment and the most cost effective. Can any of his organs be donated? Cremation costs are generally around $2k- $4k in the US.
You will need 2 death certificates, sometimes more for various things like insurance, car titles, deeds to homes. Utilities Taxes. Bank accounts, IRA’s, Consider hiring an attorney for help.
Notify his employer as he might have had life insurance and pension from them. Research social security benefits as your mother should be able to claim his benefits. You might need to get your mom some health insurance if she was on his coverage.
That should keep you busy enough for the next couple of weeks. I’m very sorry for your loss. Get yourself one or two therapy sessions to help alleviate the stress. It will help.