Major Life Insurance company almost pocketed almost $131k of our death benefit! They got caught!

Not sure where to post this. We were left a death benefit that was to be annuitized.

Story of how we almost got ripped off! They had been sitting on $131,000 for last 3 years!

My Aunt died and left 5 of us an IRA to be turned into an annuity with X company to be paid over 10 years. It was left to 5 people, and 2 of them had passed on so that left 3 beneficiaries. It should have been straightforward but X paid me incorrectly for first 2 years of payments. Well, come to find out, they left out a HUGE sum of money to the tune of over $131,000 in total (for all 3 beneficiaries) that was also due to us. The ONLY reason this was discovered is we have to pay inheritance taxes to PA and the numbers didn't match up for the tax filing for PA. Otherwise, it is likely this would have never been discovered and X would have absorbed the money

No apology given either by X. I accepted the 3rd corrected payout in lump sum of $39k (Due to errors, they said we could accept the remaning funds in a lump sum or annuitize a 2nd time) as I'm accruing penatlies and fees with PA! Those taxes need to be paid!

My question is, do we have recourse? If so, who do we contact and is it worth it to pursue this? T

It is shocking they got it so wrong! Shameful even.

I WILL be outing this company and going to file formal complaints but first, I want to get my questions answered. Let's just say, this major company is NOT on our side.

submitted by /u/rosebudlily
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