Question
What is the name of your state?Hi, my Dad just passed away yesterday, he had a whole life insurance that was cancelled just days before because we couldn't afford the payment. Is there anything we could could do to un-cancel it and claim the money? The check (for the cash value) is still on hold at the bank.
Abel
Answer
Cancelled by who--the company or by the decedent?
What is the amount of the check being kept on hold at the bank and why is it on hold there?
Who wrote this check?
Answer
Cancelled by who--the company or by the decedent?
What is the amount of the check being kept on hold at the bank and why is it on hold there?
Who wrote this check?
It was cancelled by the policy holder (my dad) days before he died because we couldn't afford the payment. When the policy was cancelled, the insurance company gave my dad the rest of the "cash value" for terminating the whole life insurance. We had the policy for 16 years, the premium is $933, when my dad was in between jobs, we just couldn't spare that kind of money. I hope that clarifies.
Answer
There is nothing else you can do. Since he cancelled the policy and the cash value check has been issued, the insurance company considers this matter over.