Frustration over Life Insurance/Funeral Plan runaround
My mother died recently, approximately four months ago. She was in her mid 90s.. Over 30 years ago she purchased a funeral plan that was paid up in full in or around 2008. Trying to get the company to honor the plan has been a complete nightmare. The company has also changed hands, merged over the years. The latest company first said they had no record of my mom’s funeral plan. But when the company was told my mother kept good records, letters from all the times the company merged, changed names, sold out, we were told “we misunderstood” and they weren’t the part of the company to handle the claim. The company has given the funeral home the runaround too. Together with my mom’s savings and what she’d put aside and the family paying upfront in full, mom had a beautiful send off. All expenses paid. So that’s not the issue. The issue is the company giving us the run around. And after looking up the company on BBB, it seems there are lots of other surviving family members having the same problems with this company. Each time the funeral home has sent in the forms the company asked for, they’ve found another excuse that something more was needed. I recently filed a complaint with the state insurance commission, but that may take as much as 90 days before we may get a response.
I just would like to know if others have had this problem, especially with an elderly parent, spouse etc., that’s owned an old policy. I read a complaint on BBB where one family member posted their parent had the policy or plan for 73 years, the the company was stalling on honoring the police agreement.
I’ve been seeing lots of life insurance TV commercial, mainly targeting minorities--- with minority actors smiling and waving a check...but will these companies really pay much if anything at all out when their loved one dies? Especially an elderly loved one who may have purchased a plan or policy that’s now decades old, and perhaps the policy owner didn’t keep the good record keeping my mom kept and can’t be found by surviving family members, which is what the companies are banking on.
The funeral home has stood by the family, although they’ve been paid in full. They’re frustrated too. I’d appreciate any and all responses.
Thank You