Shenadoah Life going out of Business?

by Guest » Sun Feb 15, 2009 07:28 pm

I saw on the news where Shenadoah Life is going out of business and the Ins Dept has taken control of them. I read a big long website the scared me to death, telling me that I can't touch my money.

Can anyone tells us more?

Total Comments: 8

Posted: Sun Feb 15, 2009 08:00 pm Post Subject:

Click for more information.

Typically, when these things happen the state will take control of the company and attempt rehabilitation. If that fails they'll sell the company to a healthy insurer and all policyowners will be safe and sound.

Posted: Tue Mar 10, 2009 08:59 pm Post Subject:

there is also something called the state garuantee fund that should make sure everyone gets paid that should. Typcially insurance companies have large reserves for every dollar insured so I wouldnt worry to much. You should get what your entittled to it may just take awhile.

Posted: Wed Mar 11, 2009 03:36 am Post Subject:

One of my clients showed me a letter today from a small insurance company that went under. He had a term policy with them and the letter had a questionnaire with it that asked if he believed that he deserved some or all of his money back. WHAT CLIENT WOULD SAY NO, KEEP IT??

Posted: Fri Mar 20, 2009 03:06 pm Post Subject:

My goodness, would it even MATTER? Why in the world would they do that? You know most of everyone will say yes! I wonder what thier intentions on sending that letter was?

Posted: Thu Jun 04, 2009 11:24 pm Post Subject: SHENADOAH

Shenadoah was going through a receivership and I got that information from the horses mouth.

Posted: Fri Jun 05, 2009 09:23 am Post Subject:

Hi Domcha,

I wonder what thier intentions on sending that letter was?

Well it could be a legal obligation..but what if it was a survey aimed to judge the support of the current policy owners?


Posted: Fri Jun 05, 2009 09:35 am Post Subject:

Hi todayinsurance,

Shenadoah was going through a receivership and I got that information from the horses mouth.

How long ago did that happen?


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