As in my last question can someone buy acciedent insurance that also has a life policy with it w/o my knowing?
nea39male asked:
My brother is a supplemental insurance salesman and he had my grandma buy 2 policies for myself and wife. We knew nothing about this, until she cancelled and they sent us the bill. He says there is no problem but this doesn’t seem right. This was all done so he could get a promotion and he still got commission off the polcies. If we ever decide to take the insurance oout for ourselves we will now have to pay the whole premium at once instead of monthly. Is this legal
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My brother is a supplemental insurance salesman and he had my grandma buy 2 policies for myself and wife. We knew nothing about this, until she cancelled and they sent us the bill. He says there is no problem but this doesn’t seem right. This was all done so he could get a promotion and he still got commission off the polcies. If we ever decide to take the insurance oout for ourselves we will now have to pay the whole premium at once instead of monthly. Is this legal
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yes its legal, hes the insurance guy and he did it so…
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You see it all the time on “Law and Order”…And all them movies and shows that pertain to insurance, so it must be true…I’m sorry that your brother took advantage of you that way, though…What families do to one another…Sheesh!
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NO!!! you’r grandma, should complaint about the insurance policy!! Nobody has the right to add anthing if you get an insurance policy!!! Don’t let someone force you get more than what you need!!! Specially you’r brother!!
By the way is accident not : acciedent. Good luck!!
whole life insurance
I think that I would see an attorney.
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try reading the contract next time…
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Who is the owner of the policy? And who sent the bill? Company?
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I can take out insurance on anyone in the world as long as I pay the premium & own the policy, for it is me who signs my name on it. They do not have to have knowledge of this either but upon death I will have to prove that this person really died in order to make my claim.
If you were on the policy as a “co-owner” instead of the “insured” and you didnt sign…then someone is in trouble for forgery and you are liable for nothing ! If this policy is now cancelled you should have nothing to worry about BUT granny and brother will have some questions to answer about forgery.
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OK HERE IS THE ANSWER AS BASED ON LAW!!! when someone applys for a policy like this there are three signatures required (this case) The Agent (brother) The Owner (granny) and the Insured. (You & Your Wife) In order for this policy to be a legal binding policy you AND your wife would have had to sign the application and the policy upon delivery. If you did not sign, then let the policy lapse and contact the Insurance Company & let them know that you suspect fraud. YOU MUST DO THIS WITH IN TWO YEARS OF THE POLICIES ISSUED DATE. other wise whether it was a mistake or just plain fraud, nothing is Irrevocable after two years (incontestable clause) So Hurry!, if you did not sign then your brother will have to explain to his company why there are signatures that are not yours or you wifes, Also you can request a copy of the ENTIRE CONTRACT and see what was done, ( check the area where it says producers notes and the signatures page to see if the names signed are in a reconizable writting)
whole life insurance
well, just for the record, if she cancelled, the commission is going to get deleted from his NEXT commission statement.
I would have a stern talk with your brother, telling him to leave you out of his get rich quick schemes, or you’ll complain to the insurance department and have his license pulled. I don’t think you’ll have to pay premium in full, JFTR, and if you’re not a minor or incapacitated, your grandmother would not have been ablet o buy life insurance on you without your signature. Unless your brother forged it.