2020 Account Value Increment (AVI) Q&A
Post-Distribution
This 2020 distribution is occurring because funds recently became available for distribution from the ELIC Estate due to the settlement of a lawsuit. The check represents your Aurora Contract’s allocation as an Opt-In policyholder in accordance to the provisions of the Rehabilitation Plan of Executive Life Insurance Company. Distributions under the ELIC Rehabilitation Plan are often referred to as Account Value Increments (AVI).
All withholding changes for the AVI check must be processed by December 1, 2020 for the Federal or State withholding to be reversed.
This request can also be handled by calling (800) 265-2652, Option 3
B. If you are requesting changes, see below for required documents that will need to accompany the returned check.
Please return the check with a letter indicating the Payee is deceased and the contact information of the court appointed Representative or Administrator of the Payee’s Estate.
If the payee is deceased:
A. A copy of the Death Certificate for the payee
B. If the Estate was Probated and is still open:
a. A copy of the Court Appointment documents naming the legal representative of the Estate
b. An IRS Form W-9 providing the tax identification number for the Estate completed and signed by the legal representative if the Estate was not probated:
A. A Small Estate Affidavit or equivalent document
a. An IRS Form W-9 for each individual named in the Small Estate Affidavit or equivalent, completed and signed by that person
b. If the Estate was probated and was subsequently closed:
i. A copy of the Estate Final Distribution provided by the Court
ii. An IRS Form W-9 providing the Tax Identification number for each person listed in the Estate Final Distribution document, completed and signed by that person
If the payee is a Company:
A. Documentation validation that the signer is authorized to sign for and claim money on behalf of the payee (e.g. Corporate Resolution if available- with corporate seal or notarized signature, or other document)
B. Contact information for the payee and authorized signer, signed by the authorized signer
C. Completed W-9 form
If the Payee’s name has changed due to a purchase, merger or insolvency we require the following items, in addition to those stated above:
A. A copy of the merger and succession paperwork, clearly identifying the Successor-in-Interest
B. Written proof of the corporate dissolution or insolvency with supporting legal documentation clearly identifying the Successor-in-Interest
If the payee is a Trust:
A. Name/Address information and signature of the current Trustee(s)
B. W-9 form providing the Tax Identification Number of the Trust, signed by the Trustee(s)
If Trustee(s) listed above has changed, provide the following information:
A. Documentation supporting the resignation of the above-referenced Trustee(s)
B. Documentation of resignation and acceptance for all subsequent Trustees (Letters of Resignation, Death Certificates, Letters of Acceptance)
If the Trust is no longer in existence, provide the following:
A. Documentation supporting the termination of the Trust and successor(s) in interest, if any
B. An IRS Form W-9 providing the Tax Identification number for each person listed in the Trust termination documentation, completed and signed by that person
A detailed explanation of the one or more specific policy’s calculation allocation, indicate that is information not available to you but you can request that information for them. It will be provided in writing and take 3-4 weeks to complete due to heavy volumes.
A detailed explanation of the one or more specific policy’s calculation allocation, indicate that is information not available to you but you can request that information for them. It will be provided in writing and take 3-4 weeks to complete due to heavy volumes.
If you prefer to contact us by phone please call: 1-800-265-2652
Call us toll-free.
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8:30 a.m. to 5:00 p.m. Eastern Time
Monday through Friday