From Lloye L. Riter
If you have a life insurance policy on a loved one or yourself, you should read this.
In September 2009 I bought a life insurance policy on my 53-year-old daughter from Globe Life and Accident Insurance Company. I paid the premium on this by the year, costing about $194. It was due on Sept. 24 each year. In September 2015, I sent the company a check for the $194, paying the policy up until September 2016. I’m sad to say our daughter lost her battle with lung cancer and died November 30, 2015.
About five weeks later, we received a check for the face amount of the policy. I assumed this would include some of the last premium I had paid, or about $158, but this was not included. A week or so later I called Globe Insurance to check. The agent I spoke to said that some states have a law or something that said insurance companies are not required to refund any part of hte premium left over after the date of the person’s death. And West Virginia is one of those states.
I was shocked and asked if I could talk to someone about this. The representative said I could write a letter to the Claims Department, so I asked for their address, which she gave me, and I hung up the phone.
I got out the insurance policy and carefully read through every page to see if there was any exclusion or something saying they could or would do this and found nothing. I got out the phone book and calld the Insurance Commissioner’s Office in Charleston, West Virginia, and I told them my story. The lady there tells me that she can send me a complaint form to fill out, send back, and they will contact my insurance company to see what they can do. A few days later I was telling a good friend of mine, who lost his wife in September, and he said the same thing happened to him. He later contacted the insurance company and was told they would not refund his premium, a sum of $350.
I wrote a letter to the claims department of my insurance company, also filed a complaint with the WV Insurance Commission Office in Charleston over two weeks ago, but so far no response from either one.
Right is right, and wrong is wrong. What do you think?
Lloye L. Riter