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 Posted: Sat Nov 12, 2011 7:25 pm Post subject: |
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WHO IS "THEY" and what EXACTLY DID THEY SAY?
| Quote: | policy doesnt take full effect for 24 months
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This is NOT correct!
Death by suicide in the next two years will not be covered, and in that event, the premiums paid would be refunded. The only other issue in the next two years would be a material misstatement in your application for insurance (trying to hide a diagnosis of cancer, heart disease, or other life-shortening condition).
Absent any of these concerns, your policy is in effect today and would pay a death claim as long as premiums are being paid on time. .
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CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers. |
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MaxHerr
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| Posted: Sun Nov 27, 2011 6:24 am Post subject: |
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[ Plagiarism deleted by Moderator MaxHerr ]
Dear TaxFreeIncome . . .
When you post here, your material should be mostly original content or properly attributed to the original source. In this case, you stole the words posted by one of our senior members BNTRS. Unacceptable behavior for a guest, especially so for a new member! |
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TaxFreeIncome
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| Posted: Wed Dec 28, 2011 12:39 am Post subject: Legal age to receive Life Insurance proceeds in Missouri |
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Need to know what is the legal age a dependent child can receive life insurance proceeds in the State of Missouri.
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interested info
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| Posted: Wed Dec 28, 2011 8:26 am Post subject: |
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Age 18. This is the age of majority in all states.
Having said this, most states utilize the Unform Transfers to Minors Act (UTMA) which allows a donor to delay ownership of a trust account for a minor child to as late as age 21 or 25 --depends on state law.
That would not be applicable to life insurance proceeds unless they were payable to a trust under UTMA. Most states have adopted UTMA over UGMA which makes the age of transfer 18 under all circumstances.
_________________
CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers. |
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MaxHerr
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| Posted: Sun Feb 05, 2012 11:49 am Post subject: Lapse - Termination of Policy |
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I really don't like dealing with any kind of insurance on any level. I admit it's because of my lack of knowledge regarding the subject. I recently received a 1099-R from Phoenix Life Insurance so I assume the policy has gone beyond lapse, grace period and terminated since the automatic premium payment loan amount was less than the premium. Do I still have options ? I bought the policy in 2008, paid up additions & option term whatever that is. I want to make sure I haven't blown this completely. Many thanks.
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Dumass
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| Posted: Sun Feb 05, 2012 11:03 pm Post subject: |
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Email me with the particulars of your situation. There may be some hope of reinstating or pursuing some other action against the insurance company.
_________________
CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers. |
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MaxHerr
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| Posted: Mon Feb 27, 2012 3:37 pm Post subject: Insurance Fraud |
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| My late husband had 2 life insurance policies for over 30 years. Between a divorce attorney, and Statefarm insurance Attorney, they constituted fraudulent misrepresentation of an "Agreed" Order , in 2006 and again in 2010, to have life policy premuims diverted to to the "ex" wife from the premuims. It is clear the StateFram wasnever party to this, and the ex wife's attorney lied about the :agreed" order. All this happened everytime my husband would be out of the country. We have now lost our policies, my husband had died because of all this stress, and I need to know how I can get help with this. Is there somebody I could contact, this is very sensitive and could involve many people. Please advise! |
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deelucious
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| Posted: Mon Feb 27, 2012 10:33 pm Post subject: |
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If there is merit to your allegations and a case can be put together, it may be possible to obtain some restitution or compensation. Please contact me.
_________________
CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers. |
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MaxHerr
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| Posted: Wed Apr 11, 2012 12:46 pm Post subject: Life Paid at 98 |
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Hi, my mom has a policy that states it is a "Life Paid at 98". Her payment used to be around 200 a month. Recently they have sent her bills double that amount. When she asks her representative he says it is because my dad smokes. But the policy was written with the knowledge that he smoked. She wanted additional details and all he said was to contact Metlife but Metlife says to contact our representative. Isn't it to my understanding that premiums for this policy stays consistent? Thank you for any help in advance.
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vng
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| Posted: Wed Apr 11, 2012 6:40 pm Post subject: |
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| Quote: | | my mom has a policy that states it is a "Life Paid at 98". Her payment used to be around 200 a month. Recently they have sent her bills double that amount. |
This is not enough information to be able to give you a good answer to your question.
Any number of kinds of life insurance could be Paid UP and Age 98 (or 95, 100, 65 or . . .). What your mom's policy probably is is something called Universal Life (or Flexible Premium Adjustable Life"). You will find those words somewhere on the front cover or the first page or two of the policy. Or you will find words describing something else, such as Modified Premium Whole Life.
Once a policy is issued, a person's underwriting classification will not change, except to get better. The agent is lying when he says the premium increase is due to tobacco use. Why he is lying is a different matter.
If, as I suspect, the policy is Universal Life, it is going to continue to get more expensive every year, until your mom can no longer afford to pay the premiums, and the policy will die just before your dad does.
Send me an email with the more important details identified above, and I can give you some better, and confidential guidance. Just click on the email icon below.
_________________
CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers. |
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MaxHerr
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| Posted: Thu Apr 19, 2012 10:49 am Post subject: life insurance through an employer |
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my husband has life insurance for both of us through his employer, they sold to a different company and the insurance changed, shouldn't we have gotten reimbursed for all we had paid in, and the company is going to sell again, so all our insurance will change again, i feel like we are being taken?
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blewis96
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| Posted: Sat Apr 21, 2012 9:13 pm Post subject: |
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You don't provide enough information to be able to give you an answer. I am currently involved in several investigations of group and individual insurance misrepresentation. Send me an email with more details, names of companies, types of policies, and dates of policies, and I'll be happy to review your situation. If you are entitled to some form of reimbursement, I can help you get it.
_________________
CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers. |
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MaxHerr
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| Posted: Wed May 02, 2012 12:14 pm Post subject: insurance |
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| CAN MASSACHUETTS MUTUAL LIFE INSURANCE PAY MY PREMIUMS FROM THE CASH VALUE IN MY POLICIES TO KEEP SAID POLICIES IN FORCE? |
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sonudagr88
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| Posted: Wed May 02, 2012 12:37 pm Post subject: |
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NO NEED TO SHOUT.
Yes, your policy most likely includes an "automatic premium loan" provision that gives the insurance company the right to invade your cash value to pay premiums which are unpaid at the end of a grace period. They will continue to do so until there is no longer enough money to pay a full month's premium.
Is there a reason you have stopped paying premiums? If you no longer want the policy, then you should write to the insurance company and request that it be cancelled. You nay be subject to surrender charges, which allows the insurance company to keep some or all of the current cash value.
If you no longer want to pay premiums, and the surrender charge would eliminate any refund of value to you, then it would be best to simply allow the insurance company to use the cash accumulation until the policy lapses for nonpayment of premium. You will have full coverage until then, and by not surrendering/canceling the policy, you would still be eligible to reinstate it within the stated period of time in the policy (usually three years, and you would have to pay all the past due premiums and, possibly, interest on those unpaid premiums or premium/policy loans).
_________________
CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers. |
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MaxHerr
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| Posted: Thu May 03, 2012 5:42 am Post subject: |
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Thanks for share information for life insurance.. I want to also share Business owners insurance – It is a package policy protects against losing to the building, computer etc, small business insurance, business owner insurance, small business liability insurance, insurance for business owners. You can also visit site on business insurance:-
[Link removed per TOU] |
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katrinawatson650
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