by Guest » Wed Feb 02, 2011 06:20 pm
I would like to sue Beneficial Life. After paying on our Universal Life policy for 27 years. We were told when we purchased the policy that we would retire with over 2 million dollars. We were also told that there would be enough cash value in the policy when we were older to keep paying the policy. None of that is true and now they are not selling any more policies. I feel we have been seriously defrauded and our retirement is in jeprody. Can we sue?
Posted: Thu Feb 03, 2011 08:45 am Post Subject:
Did you consult with your agent? Did you receive any formal letters? One can sue the carrier, but you must be sure you have enough grounds to save yourself from further hassles.
Posted: Thu Feb 03, 2011 09:01 am Post Subject:
The lawyers associated with insurers are well-aware of the laws. Legal proceedings could be tied up for decades if you don't have the ability to file motions, negotiate and trudge till the hearing. Make sure you haven't overlooked anything before you file a lawsuit.
Posted: Thu Feb 03, 2011 09:22 am Post Subject:
Yes completely agree,If you think you are on a strong footing then its better to negotiate than to go for the lengthy legal proceedings.
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