Close friend of mine has a problem-
His mom took loan against whole life insurance policy for my friend, his sister, and brother. Each check is for about $4-5k. The money was all for him while mom goes to India for couple months and he promised to pay it back. When the checks arrived in mail he went and deposited in bank. Only the check payable to him was successfully deposited but the other two checks payable to his brother and sister were not. He called the bank and they told him these checks will be returned in mail because he cannot cash checks without his name on it.
His brother
Source of insurance-forums.net
His mom took loan against whole life insurance policy for my friend, his sister, and brother. Each check is for about $4-5k. The money was all for him while mom goes to India for couple months and he promised to pay it back. When the checks arrived in mail he went and deposited in bank. Only the check payable to him was successfully deposited but the other two checks payable to his brother and sister were not. He called the bank and they told him these checks will be returned in mail because he cannot cash checks without his name on it.
His brother
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