Recently I found out my long estranged and now deceased father listed me as beneficiary on a life insurance policy. The problem is he listed the wrong last name. I discussed this with the insurance company and they said there was no problem and I filed the claim listing my correct last name. They issued the check with the incorrect last name. Will a bank let me deposit this check if I prove I am the beneficiary even with the wrong last name?
There is a provision in the Uniform Commercial Code that addresses exactly this issue. If you are able to document to your bank's satisfaction that you are the person named on the check, in spite of the different last name, you should be able to deposit the check by endorsing the check twice, first with the name used on the check and then with your actual legal name. If your bank is unwilling to accept the check under those circumstances, you'll have no choice but to work the problem out with the insurance company.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
There is a provision in the 