Life insurance maturity settlement - long lost policy

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Topic Author
IvanW
Posts: 10
Joined: Fri Apr 15, 2016 12:59 pm

Life insurance maturity settlement - long lost policy

Post by IvanW »

Hi,

I have a friend who received a $360 check from Brighthouse Life Insurance Company for a "Maturity Settlement".

There is a policy number listed that she doesn't recognize and, in fact, she has no recollection of ever having a life insurance policy of any kind (although it's possible one may have been provided as some kind of employment benefit a long time ago... who knows?) The cover letter indicates the contract was issued prior to August 13, 1982 (which, I think, is only relevant in the context of any required tax reporting).

She could call Brighthouse at their Customer Solutions Center, but she's quite leery that this is all part of some "scam" and that cashing the check (or even calling) will put her at risk, financially.

All of the paperwork looks quite legitimate to me. Should she just cash the check?

Thanks,
Ivan
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Watty
Posts: 23038
Joined: Wed Oct 10, 2007 3:55 pm

Re: Life insurance maturity settlement - long lost policy

Post by Watty »

I would call the number on their website, not the letter, to see what is going on.

I would suspect that this might be some sort of life insurance policy that their parents bought for them back then. That was common back then. If their parents are still alive they should ask them about that.
Topic Author
IvanW
Posts: 10
Joined: Fri Apr 15, 2016 12:59 pm

Re: Life insurance maturity settlement - long lost policy

Post by IvanW »

Thank you. Calling a provably legitimate phone number is excellent advice ... not sure why I didn't think of that.
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Stinky
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Joined: Mon Jun 12, 2017 11:38 am
Location: Sweet Home Alabama

Re: Life insurance maturity settlement - long lost policy

Post by Stinky »

It’s almost certainly legitimate.

Brighthouse was split off from Metropolitan Life, which sold a lot of very small policies back in the day.

Please post back when your friend gets more details.
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