So can a 3rd party that didnt even know they were listed as a beneficiary still collect the money even though they missed the stipulation that the insurance company must be notified of death "promptly". The issue is that she couldn't fulfill her end of the contract because she was unaware that she was a beneficiary. Even though she didn't fulfill her end of the contract, is she entitled to the insurance money?
An insurance company has a contractual responsibility to pay the benefit of a life insurance policy to the listed beneficiaries. It's my experience that 'promptly' is put in there so that the insurance company can get all of the business associated with paying a claim done as soon as possible.
Your best bet at this point is to contact the insurance company and figure out what you need to do to collect your piece of the benefit. If the insurance company tells you that you missed out for whatever the reason, I would suggest that you get the advice of a local insurance attorney as soon as possible.
Promptly is a vague term. The third party should consult with an attorney who has experience handling these types of disputes. They should also notify the insurance company as soon as possible that they are a beneficiary to the policy.
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