shenandoah life insurance company

Posted: Sat Mar 14, 2009 10:56 am Post Subject:

Treat it as you would anything else, as if a complete stranger was selling you the product. You should not mix up a freindship and business anyway, it could turn out very sour.

Express that concern with your friend also, let them know that you don't feel comfortable dealing with business and your personal life (your friendship) could be jeopardized by it and that you value your friendship too much to put it at risk.

If the company is not doing well, then it may sink anyway, you, one customer can not keep that from happening. Goodluck, hard boat to be in.

Posted: Sun Mar 15, 2009 04:27 pm Post Subject: Shenandoah Life

Their in receivership and not taking new business now.

Posted: Tue Mar 17, 2009 12:12 pm Post Subject:

You are right, guest. The shenandoah life insurance company is in receivership. This old and one time strong company has faces a severe setback given the current market situation. The receiver would decide whether Shenandoah qualifies for the rehabilitation program or it’d be of best interest to liquidate the company.

I know its hard to say no to a friend but you may also don’t want to put the future at risk. Goodnatured is right, let your friend know your concerns.

Posted: Fri Mar 20, 2009 01:44 pm Post Subject:

Since the company is in receivership, you have no choice but to tell your friend no (see how good some things work out sometimes?)

But even if it wasn't you HAVE to stick to your gut feelings about things. Yourself won't steer you wrong (Hahaha!) If she were your true friend, she would respect your feelings and decisions about things, and wouldn't become upset and hostile. She probally knew the Company was not doing so well, and tried to reach out to anybody she knew. So if she became upset and mad at you, you should really look at your relationship between you and your friend.

But i wish your friend luck in finding new buisness ventures.

Posted: Sat Apr 04, 2009 05:00 am Post Subject:

if the friend is trying to sale you a policy from Shenandoah, the friend is in violation of the receivership orders.

Posted: Sun Apr 05, 2009 01:50 pm Post Subject:

I have some other thought on this

One need to keep the friendship as well as one's personal interest intact so in order to do that....

1.you first explain the company's statastics about the current situation to your friend and rather prove him that how difficult it will be for your own future to risk one's amount with the company which is already in receivership.
2. If he is an independant agent then purchase any policy from him of another good standing company. If he is captive then explain him that there will be no business for him if he stuck up with the Shenandoah and tell him to change to any other insurance company of his choice which is in good standing and then purchase policy from him with that new insurance company.

Posted: Sat Apr 11, 2009 02:29 pm Post Subject: Is my money gone or what?

I found this forum by Googling the phrase "protect yourself life insurance receivership". I found out a few days ago that Shenandoah Life Insurance has been placed in receivership by the Commonwealth of Virginia. My whole life policy has a cash value of about $12,900. This, I understand, is essentially frozen and I cannot get it. I'm, of course, upset by this whole matter. I'm a single parent and sole support for my kids. This was my major savings account and now it may be gone. I'm trying to learn what this receivership means to me. Is the cash value of my policy gone? The policy was originally sold to me with that cash savings accumulation as a major selling point. If Shenandoah is picked up by another company or liquidated will I be able to get my money out? Any comments or advice would be appreciated.

Posted: Sun Apr 12, 2009 11:15 am Post Subject: hi

look according to insurance act of any country insurance company have to preserve a sum of amount to save customers worth means money.
if your freind want to sell you the policy and you trust him i dont think their is any problem. because your freind is your agent and he will service you better than anyone unknown to you

Posted: Wed Apr 15, 2009 10:35 am Post Subject:

My whole life policy has a cash value of about $12,900. This, I understand, is essentially frozen and I cannot get it.

Posted: Wed Apr 22, 2009 09:29 pm Post Subject: Shenandoah Life

SBoyd....other insurance companies that are still in business are supposedly interested in buying or taking over Shenandoah's business. If and when that happens your money will be there for you.

As long as their not liquidated, you'll be okay with being able to get your money/cash value.