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I had univer. Life insur policy for 24 yrs The company tells…

Customer Question
I had univer. Life...

I had univer. Life insur policy for 24 yrs The company tells me that its not performing and want pay out,and I should apply for lesser policy (50,000)

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

I live in Tennessee

Lawyer's Assistant: Has anything been filed or reported?

No

Submitted: 8 months ago.Category: Legal
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Answered in 13 minutes by:
11/8/2017
Lawyer: Law Educator, Esq., Attorney replied 8 months ago
Law Educator, Esq.
Category: Legal
Satisfied Customers: 125,987
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

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Customer reply replied 8 months ago
What legal rights do I have if any
Lawyer: Law Educator, Esq., Attorney replied 8 months ago

Thank you for your reply.

You can keep the policy, but if it is not performing as expected you can lose money on the policy, or you can cash it out for current cash value and go to another insurance company or stay with the same one and get another policy that performs better. So you have a right to refuse to cash out, but if you lose money on the policy because it is not performing, that loss is on you and not the insurance company.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

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