Legal Question in Insurance Law in Illinois

Life Insurance Policy
I took out life insurance policies on my two minor children until they were age 23, at which time they could take over the policy or not. Now it has been years later and I have money sitting in ''unclaimed property'' for which I need to make a claim. My children are also on the list for this same ''unclaimed property'' They are now 33 and 31 years of age. If indeed that is what this unclaimed property is, who is entitled to it?

Asked on 2/21/07, 10:28 am

Zedrick Braden III Ainsworth & Associates PC

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Re: Life Insurance Policy

Hello. If you are the named beneficiary on the policy, I am of the opinion that you have the superior

claim to this "unclaimed property." I

suggests that you act on this quickly.

Many insurance companies look for ways not to pay, if they can. Will be

happy to discuss this with you further and in more detail. This is the type of thing that you really want to move on.

Answered on 2/21/07, 10:32 am

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