by k.vessels2 » Mon Aug 10, 2009 05:01 pm
My grandmother had a whole life insurance policy for 50,000 she has had this for 20+ years about 1 1/2 years ago she lowered her coverage to a 25,000 term life policy with the same company. She died about a month ago. Now the insurance company won't pay because they say her policy is less than 2 years old. However we found a letter staing the 25,000 term life replaced an exsisting policy. Wouldn't that mean they would have to take in account the 20+ year policy therefore it wouldn't be less than 2 years old. thanks in advance
Posted: Mon Aug 10, 2009 05:28 pm Post Subject:
It just depends on the specific wording of the new policy, because while it did indeed replace an old policy...it doesn't sound as though they treated it as a conversion.
The best thing to do is read back through the original policy documents...
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