My grandmother and I have run into a major roadblock with her life insurance company. On July 28th, we cashed out two

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Customer: My grandmother and I have run into a major roadblock with her life insurance company. On July 28th, we cashed out two life insurance policies to pay for her nursing home costs. We received the funds for one payout. For the second, like with the first, we received a confirmation letter that the payout was sent to her current bank via ACH. However, upon checking her account, the funds were not there. I called the insurance agent who stated that the funds were accidentally sent to an old bank account that is now closed, at a different bank. The agent contacted the insurance home office, who has contacted the bank it was mistakenly sent to and their personnel won't give them any information because they need to speak to the account holder or their representative. When I call, they can't release any information to me either and they state that my grandmother needs to call, however she cannot. I am durable power of attorney over her finances but they won't allow me to send the paperwork proving this to them. The life insurance company also won't release any account info to me despite this. I have called the life insurance company back since last week and haven't received a call back. I have also reached out to the insurance rep who sold her the policy multiple times for help and am getting nowhere. I've called the bank she previously used several times, and also tried to visit a branch (they're all closed in my area). I'm not sure what else to do, and my grandmother and I feel like we've been left out in the cold on this and haven't gotten anywhere in over a month.
JA: Can you tell me what state this is in? And just to clarify, what paperwork has been filed?
Customer: This is in Texas, no legal paperwork has been filed yet.
JA: Have you contacted the seller or manufacturer?
Customer: Yes
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: Just that we need help in getting this resolved.
Answered by Attorney Alan in 15 mins 2 months ago
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Attorney Alan
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Attorney Alan, Expert

Hi there and welcome to Just Answer. My name is ***** ***** I'm a licensed attorney. I'll be happy to help you out today.

Please note that while I do strive for real time responses there are occasions where I am called away from my desk or on a call and I cannot respond in real time. But I will respond to you as quickly as possible. Also, please note that this discussion is for guidance only and does not constitute an Attorney-Client Relationship.

I’m so sorry to hear about your situation. I know that it can be frustrating not knowing your rights. Hopefully, we can get this resolved quickly.

Customer
Thank you!
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Attorney Alan, Expert

You need to retain and attorney and threaten to file a lawsuit.  The will get everyone's attention and should get this resolved.  If it does not, then you will need to actually file the lawsuit.  Once in court, the Judge will easily side with you and likely force the bank to pay your legal costs.

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Attorney Alan, Expert

You can find a local attorney to retain on the following legal directories: avvo.com, findlaw.com, or justia.com.

Customer
because this has been an ongoing issue for almost two months. Will the suit be against the life insurance company, or the bank the funds were mistakenly sent to?
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Attorney Alan, Expert

You would name them both as defendants.  But, primarily the bank.

Customer
Would you have a ballpark estimate on what this would cost?
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Attorney Alan, Expert

I do not.  Fees vary by state and experience of the attorney.  Most charge around $300 to $400 per hour.  I would not know how many hours it would take, but you should be able to get a free consultation.

Customer
Ok thank you
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Attorney Alan, Expert

My pleasure.  Thank you for choosing JustAnswer.com.  Have a blessed day!

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