Life Insurance saga ongoing for 3 years now..
I'll try to keep this brief. My aunt died in Dec 2020 and we were notified 6 MONTHS later that an Ira (that had to be taken over as a 10 year ANNUITY) had been left to me, my siblings, my mom and my Uncle.
Sadly, one of my siblings had already passed and my mom died on the same EXACT day as my Aunt. That left 3 beneficiaries.
So, my Uncle got the Lions share of the money.. Even the majority of my mom's share went to him.
This company screwed up and didn't allocate funds correctly from the first and 2nd years of the 10 year payments. I found out last year they had under calculated to me to the tune of $16k and that was remedied with another check to make us those first 2 years payment shortfall.
Well, today I found out this company might have never allocated my mom and brothers funds… That is likely close to $100k!!! Had there not been errors with PA inheritance taxes, we would have never known that they were not allocating those funds to any of us.
I'm still waiting on the claim agent (a new one as the first one is no longer with the company, thank God) to get back to us with the correct amount they likely underpaid.
The ineptitude on this company is unreal!
What can I do? I already reported them to the Ombudsman last year for the incompetence and the company covered for the employee who is "no longer with them" so no outcome there.. But that was BEFORE I found out they underpaid…
Shouldnt they have to pay interest on the amounts they didn't pay correctly and if so, what amount would be fair? How would I go about requesting this?
I'm not naming this company yet until I get something in writing about any possible underpayment.
Any help would be appreciated. Mine and my sisters amounts were modest and to be paid over 10 years but every amount counts. Getting a lawyer would just eat into the small amount we are receiving but I do think this company needs something to happen in order for them to have consequences for all the hassle, stress worry!!! What should we do?
submitted by /u/rosebudlily
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