Fucking hell! I got a redirected letter through yesterday
addressed to my deceased friend. It was from Royal London Insurance complaining that her policy was nearly £2k in arrears. This is the first I've heard about her policy - no paperwork in among her things, no communications until now, two years after she died.

Anyway. Called them up, she only had a fucking life insurance policy!!! Christ, her unplesant family are lucky cunts. I have no idea how much will be coming in but it looks like 2025 is going to be a good year for some rather horrible people.

Don't think I wasn't tempted to just pocked the money, I mean, seriously, nobody would know, but we'd be talking serious prison time for that kind of thing. I called the solicitors straight away to let them know so as to stop me being tempted when the cheque arrives!
( garold you're on mute I SAID YOU'RE ON MUTE, Fri 20 Dec 2024, 9:29, Reply)

How long ago did she die?

(Smegg Wallace The O.G. Q.R., Fri 20 Dec 2024, 9:51, Reply)

Two years now, but the policy was probaby up to date at the time of her death
I suspect she took out the policy when she remortgaged - they often ask for proof there's enough to cover the debt in case of death. If it was all done online that's why there wasn't any paperwork for me to find. I have no idea. I'll put in a claim and see what turns up.

It was fucking tempting to bin the letter in a fuck you to the rude cunts the money would go to. Nobody woud have ever known, but one of the beneficiaries has been polite to me so I'll do right by her.

I recon each one will get a five-figure bonus because of this, even after tax.
( garold you're on mute I SAID YOU'RE ON MUTE, Fri 20 Dec 2024, 9:58, Reply)

If it was paid up at time of death, and cause of death was within policy conditions then it should pay out.
Protection isn't really something I deal with much, rich people don't tend to need it.
(Smegg Wallace The O.G. Q.R., Fri 20 Dec 2024, 11:05, Reply)

There should be a 'Claims may be forfeited in the event of egregious cuntery' clause.

( .Yeti., Fri 20 Dec 2024, 10:05, Reply)

The lovely woman at the solicitors was indignant! She said that I deserved the money for all the work I've done, we laughed, but it was a bit close to the bone!
They deal with quite a lot of difficult people but she told me even they are astonished at how awful my friend's family has been behaving. That they're getting EVEN MORE MONEY is a direct challenge to karma itself.
( garold you're on mute I SAID YOU'RE ON MUTE, Fri 20 Dec 2024, 10:33, Reply)

I mean, life is just as full of idiots and arseholes who are immensely successful and have done nothing to deserve it
as it is full of decent people who are screwed over at every turn.
( .Yeti., Fri 20 Dec 2024, 10:37, Reply)

Yeah, but I'm not usually such a clear and transparent conduit for the activity
I contacted an insurance company and have set in place a claim for tens, possibly hundreds of thousands of pounds that I'll pass directly over to a bunch of people who loathe me and I detest (well, two of the three - one of them has been perfectly civil to me and actually shown some gratitute for the hours of free work I've done).

The only thing that's made me feel like I'm doing something constructive is the knowledge that the 40% inheritance tax will go towards the greater good. AND that the beneficiaries are spitting nails that there is tax to pay on the estate so that's doubly good!
( garold you're on mute I SAID YOU'RE ON MUTE, Fri 20 Dec 2024, 11:05, Reply)

If the policy was in trust then there probably won't be any inheritance tax to pay
Soz to burst your bubble.
(Smegg Wallace The O.G. Q.R., Fri 20 Dec 2024, 11:06, Reply)

Nop. I ased and whilt they could not tell me how much the policy was for
it wasn't in trust - there were no named beneficiaries. I asked that straight away because I'm not wasting my time sorting out any funds that don't become part of the estate.

I learned that early on.
( garold you're on mute I SAID YOU'RE ON MUTE, Fri 20 Dec 2024, 11:18, Reply)

Fair, bad planning tho for it not to be in trust

(Smegg Wallace The O.G. Q.R., Fri 20 Dec 2024, 11:21, Reply)

Yeah, so many people don't realise it's something *anyone* can do, so they get mad at "rich people" for it.
It's a matter of education really. Sad.
( Dave Trouser ; the people's choice - 75% agree, Fri 20 Dec 2024, 11:32, Reply)

Some knob on here wondered how it was possible to have got like 6% growth or something in a pension
When you can't get that from cash.
(Smegg Wallace The O.G. Q.R., Fri 20 Dec 2024, 11:36, Reply)

...one of my pension funds has gone up 8% since March.

(Smegg Wallace The O.G. Q.R., Fri 20 Dec 2024, 11:41, Reply)

Indeed!

( Dave Trouser ; the people's choice - 75% agree, Fri 20 Dec 2024, 11:55, Reply)

That one's heavily invested in US tech stocks and korean superconductors etc
There's no way Microsoft, Visa, Nvidia, and Applied Materials are going to go tits up.
(Smegg Wallace The O.G. Q.R., Fri 20 Dec 2024, 11:59, Reply)

Mine's sitting at around £20bn, 107% over-funded. Excellent.

( Dave Trouser ; the people's choice - 75% agree, Sat 21 Dec 2024, 13:41, Reply)

I don't think she gave a fuck, to be honest
and I can't blame her. She wasn't close to her family and she had no dependents or partner so why bother? If I were her I'd have cancelled the insurance immediately after getting the mortgage.
( garold you're on mute I SAID YOU'RE ON MUTE, Fri 20 Dec 2024, 11:54, Reply)

Single people don't need term assurance
If they die with an outstanding mortgage the lender will just take possession and sell it. Remaining funds would go to estate.
(Smegg Wallace The O.G. Q.R., Fri 20 Dec 2024, 11:56, Reply)

When I was single and got my mortgage I had to demonstrate it'd be paid in the event of my death
I remember other friends having to do the same. Mortgage companies don't like the idea of the estate being unable to cover the cost of the mortgage which could easily happen if there were other debts, the property had fallen into disrepair etc. I guess it could depend on the lender though.
( garold you're on mute I SAID YOU'RE ON MUTE, Fri 20 Dec 2024, 12:01, Reply)

Depends on the lender
Interest Only mortages have 'sale of property' as a valid capital repayment plan, dunno why C&I ones can't have the same thing.

In any event, like I said, if the borrower dies and there's no TA in place then they just take possession and sell. Easier for all parties for that not to happen, and decreasing term is so cheap it's a no brainer

Still, these things do happen.
(Smegg Wallace The O.G. Q.R., Fri 20 Dec 2024, 12:07, Reply)

So, if there are greater claims on the estate than realisation of assets will achieve
how does it work? Wasn't anywhere near an issue with the estate I wound up as the mortgage was £40k, other debts about £6k and we got in £190k from death in service and a further £250k from the sale of the house.

If, say, the property had a mortgage of £200k, but had to be sold for £180k and there were £20k in debts, what happens then? I'm guessing there would be nothing to pay to the beneficiaries but what's the hierarchy of creditors? What if there were legal fees?

I'm just curious.
( garold you're on mute I SAID YOU'RE ON MUTE, Fri 20 Dec 2024, 13:09, Reply)

Dunno

(Smegg Wallace The O.G. Q.R., Fri 20 Dec 2024, 14:20, Reply)

Don't worry, they will piss it away most likely, and not truly benefit from it in the long term.

( Dave Trouser ; the people's choice - 75% agree, Fri 20 Dec 2024, 11:30, Reply)

Of the five siblings only two are still alive
all died relatively young. Not sure if it's bad genes or shit childhool leading to adiction or whatever but I'd not describe any as particularly balanced or pleasant people, apart from my friend who was lovely, buy we kept finding empty wine bottles hidden around the house when we cleared it out, her alcohoism had gotten really bad. One of the beneficiaries didn't stay alive long enough to get any of the money.
( garold you're on mute I SAID YOU'RE ON MUTE, Fri 20 Dec 2024, 11:58, Reply)