Dec 5, 2024
The widow of a Pinellas Park, Florida, firefighter, who asked to go by Trudy, says she spent six months struggling to gain access to funds her husband of 56 years had left behind. Following his death in May, all accounts were settled except one with an insurance company.
Trudy planned to use funds from the account to move into an independent living community. However, months after sending in the paperwork, she still hadn’t received any money.
Advertisement
“It rips my heart because my husband wanted to make sure that I would have enough,” Trudy told ABC Action News in a story broadcast Nov. 25.
Here’s what happened, including the conclusion of the dispute, and what could possibly have been done to prevent it.
Why she couldn't access the funds
Trudy says, after her husband died, an attorney helped her with the estate, including sending documents to the insurance company. But after forwarding a copy of her marriage certificate and her license, the company still wouldn't release the funds.
“They told me they’re worried about forgery,” Trudy said. The company asked for additional information in a letter shared with Action News.
So, Trudy headed back to her lawyer's office and signed another form. But weeks passed, and she still had not received any money. Trudy claims she had no idea what information the insurer was missing or what they wanted.
Action News called the insurance company, and according to the broadcaster, a representative said the company didn’t receive Trudy’s paperwork until mid-August and the forms weren’t in “good order.” Some time later, Action News contacted the company’s vice president of customer experience. It reports that, just a few hours later, the company processed Trudy’s claim and overnighted her check.
Six months after her husband’s death, Trudy finally accessed her money. But she still thinks she shouldn’t have had to wait so long.
“I hope your mother and father never go through this, it’s their money, it belongs to them,” Trudy said.
Must Read
- You can now build wealth like a landlord for as little as $100 — and no, you don't have to chase down rent or take 3 A.M tenant calls
- Goldman Sachs used to hoard prime real estate deals for the ultrarich. Two ex-analysts just opened the door for $250
- Robert Kiyosaki begs investors not to miss this ‘explosion’ — says this 1 asset will surge 400% in a year
Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.
How to speed up the claims process
If you or a loved one are in a similar situation, there are steps you can take to speed an insurance claim. Michelangelo Mortellaro, an attorney who specializes in estate planning and elder law, offered several tips to Action News.
Advertisement
“I would say, A) be organized, and B) follow up,” he said. “The old squeaky wheel gets the grease.”
He also recommends double-checking forms because just one missing date or blank spot can create delays.
When asked what someone could do if they were waiting on their money, Mortellaro told Action News: “You can always hire a lawyer to file suit, but that would actually slow down the process.”
It’s unclear what insurance product Trudy’s husband purchased or what about the paperwork she submitted was under dispute, but to prevent delays like she experienced it can help to keep one’s account information up to date. Regularly review and update beneficiary names, contact information and legal documents to reflect your current wishes. This can ensure the claims process moves forward without problems.
Make sure your beneficiaries know where to find key documents like wills, insurance policies and account statements. Keeping these documents organized and accessible can ease the burden of settling your accounts. Consider creating a folder with all necessary paperwork and let your loved ones know where it’s located.
Finally, when you file a claim, stay in contact with financial institutions and respond quickly to any requests for additional information. Being proactive can help prevent unnecessary delays.
You May Also Like
- Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and the simple steps to fix it ASAP
- Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how
- Millionaires under 43 are reshaping investing — just 25% of their portfolios are in stocks. Here’s where their money is going
- Robert Kiyosaki issues grim warning for baby boomers. Many could be ‘wiped out’ and homeless ‘all over’ the country. How to protect yourself now
Danielle is a personal finance writer whose work has appeared in publications including Motley Fool and Business Insider. She believes financial literacy key to helping people build a life they love. She’s especially passionate about helping families and kids learn smart money habits early.
