Missing and Anounced dead, then comes back.

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Missing and Anounced dead, then comes back.

What happens if a person is missing long enough to be considered dead and the life insurance is already delt out, but the person comes back? Will the insurance that has already been delt be taken back? Can the person who was thought to be dead get a new life insurance policy?

Asked on June 1, 2009 under Insurance Law, Wisconsin

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 15 years ago | Contributor

If the insured is declared legally dead then my understanding is that the proceeds do not have to be paid back.  Of course this assumes that there was no fraud here.  For example, if the insured and the beneficiary colluded on the claim then restitution would have be made to the insurance company.  Additionally, there would be obvious criminal penalties as well.

As for getting a new policy, absent fraud on the original policy, I don't see why not as long as the insured meets all requirements for issuance of a policy.


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