Shenadoah Life going out of Business?

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PostPosted: Sun Feb 15, 2009 7:28 pm   Post subject: Shenadoah Life going out of Business?  

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?


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PostPosted: Sun Feb 15, 2009 8:00 pm   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.



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PostPosted: Tue Mar 10, 2009 8:59 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.

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PostPosted: Wed Mar 11, 2009 3:36 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??

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PostPosted: Fri Mar 20, 2009 3:06 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?



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PostPosted: 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.

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PostPosted: Fri Jun 05, 2009 9:23 am   Post subject:   

Hi Domcha,



Quote:
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?



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PostPosted: Fri Jun 05, 2009 9:35 am   Post subject:   

Hi todayinsurance,



Quote:
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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