[WSBAPT] Life insurance delays in payment

Wed Sep 30 11:03:33 PDT 2020

Thank you.  That is interesting.  Also, it appears that IFCA claims can be made and I will review that statute which is usually used by personal injury insurance claims to see if it extends to life insurance policies.

Dalynne Singleton
Gourley Law Group
Snohomish Escrow
The Exchange Connection
1002 10th Street / PO Box 1091
Snohomish, WA 98291
360.568.5065
360.568.8092  fax
dalynne at glgmail.com<mailto:dalynne at glgmail.com>
Website:  www.glglawgroup.com

As we face the challenges presented by COVID-19, we have limited staffing in the office to maintain critical functions. Attorney/client meetings will be handled by teleconference or virtually whenever possible.  Be assured that we will continue to advise & support our clients throughout this health emergency.  If you would like to set a telephone conference, please email my paralegal theresa at glgmail.com<mailto:theresa at glgmail.com> or dara at glgmail.com<mailto:dara at glgmail.com>.

Please be advised, we are requiring all clients with scheduled appointments coming in, as well as our staff, to be prepared to wear a face mask or adequate covering during all in office interactions.

LICENSED IN WASHINGTON AND OREGON
IMPORTANT/CONFIDENTIAL: This e-mail message (and any attachments accompanying it) may contain confidential information, including information protected by attorney-client privilege. The information is intended only for the use of the intended recipient(s).  Delivery of this message to anyone other than the intended recipient(s) is not intended to waive any privilege or otherwise detract from the confidentiality of the message.  If you are not the intended recipient, or if this message has been addressed to you in error, do not read, disclose, reproduce, distribute, disseminate or otherwise use this transmission, rather, please promptly notify the sender by reply e-mail, and then destroy all copies of the message and its attachments, if any.
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jennifer L White
Sent: Wednesday, September 30, 2020 10:39 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Life insurance delays in payment

Dalynne,
When they do eventually pay it, they will get "dinged" for an extra 8% interest, maybe 11%, for dinking around:
RCW 48.23.300<http://app.leg.wa.gov/RCW/default.aspx?cite=48.23.300>
Policy settlements-Interest.
Any life insurer shall have the power to hold under agreement the proceeds of any policy issued by it, upon such terms and restrictions as to revocation by the policyholder and control by beneficiaries, and with such exemptions from the claims of creditors of beneficiaries other than the policyholder as set forth in the policy or as agreed to in writing by the insurer and the policyholder. Upon maturity of a policy in the event the policyholder has made no such agreement, the insurer shall have the power to hold the proceeds of the policy under an agreement with the beneficiaries. The insurer shall not be required to segregate funds so held but may hold them as part of its general assets.
An insurer shall pay interest on death benefits payable under the terms of a life insurance policy insuring the life of any person who was a resident of this state at the time of death. Such interest shall accrue commencing on the date of death at the rate then paid by the insurer on other withdrawable policy proceeds left with the company, but not less than eight percent. Benefits payable that have not been tendered to the beneficiary within ninety days of the receipt of proof of death shall accrue interest, commencing on the ninety-first day, at the aforementioned rate plus three percent. This section applies to death of insureds that occur on or after September 1, 1985.

Jennifer L. White, Esq.
[cid:image006.jpg at 01D69719.55A87BD0]

jen at appletreelaw.com<mailto:jen at appletreelaw.com>
PO Box 11037
Yakima, WA 98909
509.225.9813

From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Dalynne Singleton
Sent: Tuesday, September 29, 2020 4:09 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Life insurance delays in payment

Has anyone litigated or briefed the issue of non-payment and delays in payment on a life insurance policy?
It is Met Life and they are stalling for months, asking for death certificate now 4 X.  Decedent was Boeing employee and it was a life insurance policy purchased through work.

RCW 48.23.130<http://app.leg.wa.gov/RCW/default.aspx?cite=48.23.130>
Settlement on proof of death.
There shall be a provision that when a policy becomes a claim by the death of the insured, settlement shall be made upon receipt of due proof of death and surrender of the policy.

Dalynne Singleton
Gourley Law Group
Snohomish Escrow
The Exchange Connection
1002 10th Street / PO Box 1091
Snohomish, WA 98291
360.568.5065
360.568.8092  fax
dalynne at glgmail.com<mailto:dalynne at glgmail.com>
Website:  www.glglawgroup.com<http://www.glglawgroup.com>

As we face the challenges presented by COVID-19, we have limited staffing in the office to maintain critical functions. Attorney/client meetings will be handled by teleconference or virtually whenever possible.  Be assured that we will continue to advise & support our clients throughout this health emergency.  If you would like to set a telephone conference, please email my paralegal theresa at glgmail.com<mailto:theresa at glgmail.com> or dara at glgmail.com<mailto:dara at glgmail.com>.

Please be advised, we are requiring all clients with scheduled appointments coming in, as well as our staff, to be prepared to wear a face mask or adequate covering during all in office interactions.

LICENSED IN WASHINGTON AND OREGON
IMPORTANT/CONFIDENTIAL: This e-mail message (and any attachments accompanying it) may contain confidential information, including information protected by attorney-client privilege. The information is intended only for the use of the intended recipient(s).  Delivery of this message to anyone other than the intended recipient(s) is not intended to waive any privilege or otherwise detract from the confidentiality of the message.  If you are not the intended recipient, or if this message has been addressed to you in error, do not read, disclose, reproduce, distribute, disseminate or otherwise use this transmission, rather, please promptly notify the sender by reply e-mail, and then destroy all copies of the message and its attachments, if any.
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