Life insurance query

sfm82

We phoned Aviva and they told us that as it was a coorporate account (death in service arrangement) they dont hold information on the individual person and that we would have to contact the company directly to get any information. So this means that the company will have administrators working for them to deal with the claim like you said dunstonh.

However when we contacted the company last week about the progress of it they said that they had handed in the death certificate and it was now out of their hands, how frustrating!!!

dunstonh

Yep. Frustrating.

Company administrators are often slow to deal with these things. You find yourself largely out of the loop whilst you wait for them to deal with it. The idea of these corporate arrangements is that the insurers provide the corporate product cheaper as the administrator takes on the bulk of the work. It works well when everything runs smoothly. However, it can drag on if it doesnt.

sfm82

Ok, so we called the employer to find out what the situation was, a guy there said that what usually happens is that the insurance company pays the employer the life insurance payout and then the employer pays the relatives the money. What has happened in this case though is that when the insurance company contacted the employer to ask which account the money should be paid into the employer asked them instead to write out three seperate cheques (as there are 3 siblings receiving the money) which the employer would then post out to us once received from the insurance company. This seems like an awfully complicated way to do this and I'm quite annoyed.

We asked when this happened and he said that they requested the payout in cheque formation over a week ago so it should be with them 'soon'.

OH has requested that the administrator for the account call him tomorrow so that he can ask him further questions about it.

Feel better that we know it is happening!

Just had a thought maybe they didnt want it all paid into a single nominated bank account for tax pruposes?