Question
I live in Georgia and I have a major mess with my husbands life insurance policy.
My husband committed suicide last month. He left me a note telling me he was sorry but he knew the life insurance would take care of me.. .. and some other things..
Well, Here is the problem. My husband started working for this company 4 yrs ago. then, a year and a half ago, the company got bought out. Durring this buy out they did not TRANSFER the insurances (life or health) but stopped them and started with a new company. Suicide laws state that you have to have had the policy for 2 yrs.
No employee got any choice to keep this policy privately (the old policy) nor did they get the choice to transfer over the policy to the new one (conversion I think its called)
So, his old insurance company (cigna) is saying they arent paying, his new company (guardian) says he wasnt with them for 2 yrs so they arent going to pay ALL of it?? they will pay the basic life part.. (some one even said something about 2 yrs salary, not including over time)
Is there anything I can do? It was not a choice of any of the employee's to convert or keep the old insurance. He was positive I'd get the full amount and I see he was wrong.
Am I just totally out of luck? or is this something that an attorney can help me with?
Nancy
Answer
Do you have a copy of the actual policies?
Too bad that your husband probably did not know about the switchover or else he could have made other plans.
You are basically lucky to get whatever you can, and it sounds like you are unsure about even the exact amount you will get.
You need to be asking CIGNA for a refund of all the premiums your husband paid.
Answer
Take this issue along with the issues from the hospital to your attorney. You might also check with the insurance commission in Georgia and ask if there are grandfather rights when a company switches policies as happened with your husband. You also know that there will be Social Security benefits for your children and VA if he was a Veteran.
Answer
Hi, thanks for the replies.
I did take this to an attorney. Im not feeling real confident with what he's doing at this point, thats why I wanted to see if it was a hopeless case.
The total amount of his policy was 175k, the basic life was 50k and he paid extra for the rest. First they said they would pay basic life (50k) then they said they would pay 2 yrs salary which because they arent including his over time would be about 70k (with OT more like 120K)
I have a copy of the newer policy but cigna isnt being very helpful at all in giving me any information so I do not have that one. The newer one doesnt mention anything about a situation like this, or about conversion .. transfer..
I think I will go to the insurance commission. I posted them a question on their website but all I got was a 'give me copies of all the paperwork' before they would answer. I dont have all that paperwork because I cant get it at this point.
As for social security. I did go and get that settled. we will be ok. We will be able to pay the bills and live just fine with it, but of course I'd like to have the life insurance policy too.
I will ask about some type of grandfather rights.
And asking cigna for a refund.. thats interesting.. doubt they'd go for it, but I will mention it to my attorney!
This whole thing is a mess. At this point I really dont need this type of hassle, i have enough to deal with because of what he did (really REALLY hard on the kids) so, i'd like this whole thing to be over!!
thanks again
Nancy