Question
What is the name of your state? CA
My recently deceased mother signed a policy to which I am the bene; the policy, however, can not be located. The ins co wants me to sign a waiver in lieu of surrendering the missing policy. Can they settle for any amount they wish if i do sign this waiver? Are they legally entitled to pay out the amt my mother signed up for?
I appreciate your advice.What is the name of your state?
Answer
I worked for an insurance co. & it is normal procedure to have a lost policy affidavit signed if the policy cannot be located. (it's in lieu of the pol.) They will pay out the amount per the provisions of the policy.