by Guest » Thu Mar 23, 2006 06:05 am
Guys !
This is a peculiar case, where in I need to pay a sum worth my six months premium to my insurance company with no fault of mine. My husband and me had been perfectly maintaining our life insurance policies with this company for over a period of time. Everything seemed alright till the time I realised that my husband's policy did not get activated. This was quite evident in my checking account statement as I viewed the amount withdrawn as premium.
As I called on my insurer, I was informed that
everything has been straightened out. Since that time I have been observing the amount of withdrawal each month, which suggested that both of our premiums were being collected regularly. Now that a year has passed and we are planning to shift in to another city, I had to call our insurer and inform them to switch their way of collecting to our new bank.
All to my dismay, they could only figure out my husband's account. It merely suggests that my policy got cancelled without any information being conveyed to me. Now they are forcing me to pay for my last six months premiums which they haven't withdrawn to get my policy reinstated. Now, my question is- can they ask me to pay for their fault ? Is it not unlawful for them to cancel my policy without any notice being served to me ? Or is that the only way to get my policy reinstated ?
I would be back soon.
Rhonda
This is a peculiar case, where in I need to pay a sum worth my six months premium to my insurance company with no fault of mine. My husband and me had been perfectly maintaining our life insurance policies with this company for over a period of time. Everything seemed alright till the time I realised that my husband's policy did not get activated. This was quite evident in my checking account statement as I viewed the amount withdrawn as premium.
As I called on my insurer, I was informed that
everything has been straightened out. Since that time I have been observing the amount of withdrawal each month, which suggested that both of our premiums were being collected regularly. Now that a year has passed and we are planning to shift in to another city, I had to call our insurer and inform them to switch their way of collecting to our new bank.
All to my dismay, they could only figure out my husband's account. It merely suggests that my policy got cancelled without any information being conveyed to me. Now they are forcing me to pay for my last six months premiums which they haven't withdrawn to get my policy reinstated. Now, my question is- can they ask me to pay for their fault ? Is it not unlawful for them to cancel my policy without any notice being served to me ? Or is that the only way to get my policy reinstated ?
I would be back soon.
Rhonda
Posted: Fri Nov 28, 2008 02:07 pm Post Subject:
The insurer has no legal requirement to call you, although this would've been nice through common courtesy. That's the world of insurance... it sucks doesnt it!!!! lol
Posted: Tue Feb 03, 2009 08:12 pm Post Subject:
It does suck. They should at least say something before they just drop you. I guess they're not the "Mom and Pop" types that just want to take care of everyone. I recently heard a story in the news about a veteran who froze to death in his home. His heat had been cut of in well below freezing temps. because he'd failed to pay his bill. He FROZE TO DEATH because of NONPAYMENT! I mention this because the insurance companies do the same thing. If you can't meet your end of the bargain then you're left high and dry. Or frozen to death. It's your problem at that point. This is a shame. I realize that they have a lot of people to take care of and they can't give everyone special attention. A little courtesy goes a long way though. In the meantime we just have to make sure for ourselves that everything is taken care of.
Posted: Wed Feb 04, 2009 04:47 am Post Subject:
If you can't meet your end of the bargain then you're left high and dry. Or frozen to death.
Yeah, that's the way it works Barbara. I'm sure that you too wouldn't be excited to do business with someone who can't meet his/her promises. The insurance company covers you against the promise of premium payment that you make to them. If you can't pay the premiums on time you're violating the conditions of the policy contact. Therefore, you'll no longer be entitled for the coverage. Make sense, huh?
Posted: Wed Feb 04, 2009 12:29 pm Post Subject:
It does suck. They should at least say something before they just drop you.
They do Barbara with those notices they send... :wink: you know the ones that say (in effect) , 'listen fella, your policy is fixin' to lapse that means no coverage for you! send this much money by this date to keep this from happening, otherwise no insurance'...same with utilities I think they may even change color...too bad about the old man, the truth is NO utility company (in my area anyway) can turn off power if the temp. is below a certain digit, if they know there is someone in the home...poor old man if he or his family would've let the company know he wouldn't have had to die.Add your comment