Shenadoah Life going out of Business?

Submitted by Anonymous (not verified) on Sun, 02/15/2009 - 19:28

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?

Posted: 15 Feb 2009 08:00 Post Subject:

Click shenlife.com/home/wcm/connect/shenlife+public+site/Shenandoah+Life/ 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: 10 Mar 2009 08:59 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: 11 Mar 2009 03:36 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: 20 Mar 2009 03:06 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: 04 Jun 2009 11:24 Post Subject: SHENADOAH

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

Posted: 05 Jun 2009 09:23 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?

Steven

Posted: 05 Jun 2009 09:35 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?

Steven

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