A Midwestern life insurer says recently paid death benefits to the beneficiary of a policyholder who bought a whole life policy in 1948 and finished making payments in 1959.
Minnesota Life Insurance Company, a unit of Securian Financial Group Inc., St. Paul, Minn., reports that David Alarid, a financial advisor in Newport Beach, Calif., recently received a claim from a woman whose father had died.
The father died at age 97, after owning a Minnesota Life policy for 63 years. The daughter mailed the original policy to Alarid’s office.
Minnesota Life paid the policyholder’s daughter $5,435 in benefits, the company says.
- Allison Bell
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