Question
What is the name of your state? Missouri
Can you tell me if I have a valid or good chance of winning this case if I decide to sue. Here are the details:
I took out an insurance policy that I could withdraw money from in 1986. In 1999, a different agent from the same company told me that the money from the 1986 policy would be rolled over into the new policy and used to make investments. I just found out that agent is no longer with the company; that my 1986 policy had been cancelled, and that another policy had in fact been started at that time. Also, I did not receive any of the money that had accumulated in the 1986 policy; neither had I been notified that the 1986 policy had been cancelled. What should I do? Write a letter explaining the circumstances or seek legal counsel?
Chariot of Fire
Answer
There are far too many variable that would require a review of the documents (your policy from 1986, your policy from 1998 and any correspondence).
Regretably, that is beyond the scope of this forum. I suggest you contact your local state (or county) Bar office and request a low- or no-cost referral.
Answer
Sounds like a scam conversion from whole life to term insurance.
Answer
I agree. A few years ago there was a flurry of these policy conversions going on.... with little or no complete disclosure to the policy holder. That is why I suggested that a complete review of the documents was in order.
Answer
And you are entirely corrrect Halket.