dojA001225.xml

dojA001225.xml

born-digital

email

yes

no

2001-12-06

Thursday, December 06, 2001 7:20 PM
Re: Collateral Source deductions of Life Insurance

Attn : Ken Feinberg, Special Master

Here is our unique situation. The husband a young 39 year old big
breadwinning bond broker died in the WTC Sept. 11 tradgedy. He was only
married for 1 year .(13 months.)No children.He left his wife a stock account
and 2 real estate properties. He had $900,000 in life insurance which he
named his 3 siblings and his Mom as the beneficiaries. The victim's wife
received a smaller $100,000 policy. The policy's were purchased years ago.My
understanding is that only the wife can make a claim under the victim's
compensation fund for economic and non-economic losses. I assume the mother
and siblings can not make a claim.Will the $900,000 in insurance proceeds
penalize the widow's claim to the victim's compensation fund. She did not
receive these insurance proceeds. They were divided among the 3 siblings and
mom.This issue is dividing several families away from us as well. The
assumption is that it should not penalize the widow because she did not
benefit or participate in the $900,000 policy.Also, because the recieving
beneficiaries are not in a position to make a claim against the fund because
they are not the widow. It is hoped by all parties, that the Fund clearly
spells out how this will be treated.
I appreciate your review of this matter.


Thanks

Individual Comment

2001-12-06