MY life insurance policy was lapsed because I was behind 2 payments. No warnig given. Policy then cancelleb because medical reorts were sen late by MD
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MY life insurance policy was lapsed because I was behind 2 payments. No warnig given. Policy then cancelleb because medical reorts were sen late by MD
This was 50000 POLICY with return of premium. I HAVE PAID $50000 into policy. Insurance company was motivated to cancel policty as they were paying me high rate of 6.5% on my money. I believe they acted in bad faith.
Asked on May 16, 2009 under Insurance Law, Florida
Answers:
J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney
Answered 15 years ago | Contributor
If you believe that the insurance company exercised bad faith then i suggest retaining a lawyer to file suit to obtain the entire file to determine what decisions were made and why. proving bad faith is a difficult task, especially when you admit you were behind on 2 payments. The insurance company will bank on this as the basis for terminating the policy. Nevertheless, you have paid a lot of money and i cannot imagine why the insurance company wont let you come current on the bills and continue the businsss relationship. In any event, I suggest talking to a lawyer. It will cost you some money here if the lawyer wont take a contingency fee, but it is worth looking into.
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