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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 118784
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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I have a life ins policy on my dad i have been paying on

Customer Question

I have a life ins policy on my dad i have been paying on for 15 years. It is now un to 1568.24 a quarter. 2 mos ago they sent me a letter saying the policy was running short they needed 3525.00 by 2/25/16 so i sent them a check @ 2/18/16 unfortunately I forgot to sign it and it came back as soon as I got it back i called them to make sure when I signed this check and returned it they would still honor it the lady I talked to said most differently because it is in the process "no worries just mail it back" and I did . I got a letter today saying the check was not received in time the policy is cancelled. Is this real I have about 60,000 invested. CO NAME IN BANNER LIFE I LVE IN NH
Submitted: 1 year ago.
Category: Legal
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
If the policy was not paid in time, regardless of the reason, it may be cancelled by the company. You would need to appeal this cancellation based on the fact you forgot to sign the check. Whether you are aware of it or not, sending in an unsigned check to a mortgage or insurance company is an age old trick to get more time to get funds in the bank to cover the check, which is why these companies do not have to honor that as sending payment on time. If there have never been any payment issues, most companies will give one time exception, but you are going to need to contact the insurer and dispute the cancellation of the policy and seek reinstatement and they have to agree to it and it would likely mean you talking to a supervisor who has the authority to do so.