Can my insurance policy be terminated if I have had it for 28 years an always make payments , just because I?

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Can my insurance policy be terminated if I have had it for 28 years an always make payments , just because I?

Can my life insurance be terminated by the carrier just because I now have a terminal illness? I have had this insurance for over 28 years and have always made my payments on time. The insurance agent now wants me to cancel my policy. Is this legal? USA

Wendy S

This is one of the oddest things I've heard. I cannot think of any good reason why the insurance company would cancel the policy, unless you don't pay your premium or it gets non-renewed because you become too old for the policy (some are only renewable to a certain age).

The only thing I can think of that possibly makes this make any sense at all is that if your policy has a cash value built up your agent may think you would rather take the cash now (likely less than the face value of the policy) instead of leaving the money to your beneficiary. Some people do prefer to do that, especially if they need the money for treatment or to make themselves more comfortable.

I hope you are simply misunderstanding the agent. Speak to your agent again to clarify, and if he/she still tells you that the company is going to cancel the policy I would call the company directly. If you sense anything odd then please call your state's department of insurance.

I am so sorry to hear your prognosis. I hope you find peace.

beaver

no pay on it and get a legal help

MSAD

I'd keep making the payments and tell your agent- that you do not wish to cancel the policy.

Then call your state's insurance department. All insurance companies are regulated at the state level (this includes life insurance companies).

Professor Wonderful

First, do not depend upon only the agent. Sometimes an agent will pocket the premiums, yet issue what looks like a binder. (A binder is supposed to legally bind the insurer at the moment specified.)

Do a Yahoo Search for "Department of Insurance" "(name of your state)" "consumer complaint". The reason to use the quotation marks is because the Yahoo Search Engine will look for the exact wording - in the exact order - for the lettering within the brackets..

Your Insurance Commissioner can let you know if the policy is cancellable. You can even contact the company directly,

Contracts for insurance are almost always unilateral. All you need do is keep paying the premiums OR keep offering to pay the premiums even if the company does not cash your checks!

Notify the commissioner promptly.

baremp

Keep your payments going on time. i am not sure if you are talking Life Insurance or Health Insurance.
If you are ill and should you go into hospital make sure your family or significant other is aware of what the insurance Company is trying to do to you. please tell them to make the payments on your behalf.
Get someone to help you make contact with the Insurance regulator in your state. This agent or company needs to be investigated immediately.
I wish you luck and good companions in you journey.

betotron don

call your lawyer asap

Insurance Pickle.com

What?!...call the company and tell them and the agent will promptly be ousted...

No, is the answer. That's why you bought the insurance.

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