[WSBAPT] American General Life - Refusing to accept small estate affidavit

Wed Jan 31 09:53:03 PST 2024

In addition, send notice and invoke the penalty of interest on any unpaid life insurance monies.  That usually gets their attention.
https://app.leg.wa.gov/RCW/default.aspx?cite=48.23.300#:~:text=RCW%2048.23.300,September%201%2C%201985.

RCW 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.

Dalynne Singleton
Gourley Law Group
Snohomish Escrow
The Exchange Connection
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Ryan Castle
Sent: Wednesday, January 31, 2024 9:43 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] American General Life - Refusing to accept small estate affidavit

Jeff,

If the insurer's cover letter states they will accept a small estate affidavit or something other than letters testamentary, and you provided the affidavit but the insurer still refuses to release funds, then this looks like a good case of insurance bad faith, breach of contract, and consumer protection act violation. You could send a complaint to the Office of the Insurance Commissioner and mail the complaint to the insurer as well. This might get them to act.

On Wed, Jan 31, 2024 at 9:25 AM <Jeff at bellanddavispllc.com<mailto:Jeff at bellanddavispllc.com>> wrote:
Listmates,

American General Life demands letters testamentary to release life insurance proceeds (under $100,000) although their cover letter says they will accept such a document.  They refuse to provide the name of an in-house attorney.   Do any of you know of either an in-house, or even the outside counsel for this company?

Jeff Davis

W. Jeff Davis
BELL & DAVIS PLLC
Attorneys at Law
P.O. Box 510
720 E. Washington Street, Suite 105
Sequim WA 98382
Phone: (360) 683.1129
Fax: (360) 683.1258
email: jeff at bellanddavispllc.com<mailto:jeff at bellanddavispllc.com>
www.bellanddavispllc.com<http://www.bellanddavispllc.com/>

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Ryan Castle
Castle Law Firm, PLLC
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