Shocking concern about life insurance benefits. Did you know that a life insurance company can keep the benefits due to you upon the death of a loved one? That's right, they can put the benefits in what's called a retained asset account in their bank and give you check writing privileges on that account. They can limit the number of checks written and the amount withdrawn but here is the kicker, the life insurance company is making a bundle on the interest and giving the beneficiary a small cut of the interest earned on the account. If you have received life insurance benefits in the form of a retained asset account you may have a claim against the life insurance company. Consult with an attorney regarding the specifics of your situation. I'm not giving legal advice on this blog other than to suggest you get legal advice if this is happening to you.
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Attorney Erik Rosskopf
An active member of the Florida and Georgia bar associations, he practices in Jacksonville Florida handling cases throughout North Florida and Georgia.