After the death of a family member who has a life insurance policy, the insurance proceeds are distributed to the beneficiaries named on that policy. However, when it comes to large amounts of money from a life insurance policy, there is always the danger of dishonesty and theft. In one recent case, for example, an 18-year-old discovered that his stepmother stole the insurance money he was set to receive as inheritance from his father.
According to the New Jersey Herald, the young man was only 16 years of age at the time of his father's death, so MetLife created a special fund intended to safeguard the life insurance money his father had left him. He was set to receive the money when he turned 18. However, he did not even know that he was entitled to it.