Return to the Household Finances Forum | Post a Follow-Up

 o
My SS# Requested to Claim Balance???

Posted by scarab4life (My Page) on
Sat, Jun 18, 11 at 18:50

Almost 2 years ago, I executed a pre-needs agreement for my mother with a funeral home. A lump sum was paid to an insurance company per State law. My mother recently passed away and since the amount I paid to the insurance company exceeded the pre-needs agreement amount, I was told by the funeral home that I need to submit my social security number to obtain the refund. Why is my Social Security Number necessary? Does the insurance company plan to issue a 1099 Form to me?

If anyone has experience with this, please let me know.


Follow-Up Postings:

 o
RE: My SS# Requested to Claim Balance???

Insurance companies are required to report all proceeds paid out to the IRS. You don't necessarily get taxed on them - life insurance proceeds are generally tax free, for example - but insurers must abide by federal laws.

No reason to get upset. Your SocSec number isn't secure anyway.


 o
RE: My SS# Requested to Claim Balance???

If the owner of the policy was your mother, perhaps you could have them make the payment to her estate, using her SSN.


 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!


Return to the Household Finances Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Please review our Rules of Play before posting.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.


Learn more about in-text links on this page here