Comments on: If a life insurance company goes bankrupt, what happens to whole life insurance benefits? http://assetsforbankruptcy.com/if-a-life-insurance-company-goes-bankrupt-what-happens-to-whole-life-insurance-benefits What Counts as Assets in a Bankruptcy Filing? Thu, 19 May 2011 11:14:05 +0000 hourly 1 http://wordpress.org/?v= By: H A L 9000 http://assetsforbankruptcy.com/if-a-life-insurance-company-goes-bankrupt-what-happens-to-whole-life-insurance-benefits/comment-page-1#comment-1129 H A L 9000 Wed, 16 Jun 2010 08:27:54 +0000 #comment-1129 Whole life is a terrible purchase...but that is for another question at another time. There are two possible salvations for your dad. It may be that your State's Insurance Commission could step in and settle for pennies on the dollar or another solvent company could buy the assets of the bankrupt company. Contact your states insurance commission for better answers because this is technical and we goofs here probably will give bad advice. Whole life is a terrible purchase…but that is for another question at another time.

There are two possible salvations for your dad. It may be that your State’s Insurance Commission could step in and settle for pennies on the dollar or another solvent company could buy the assets of the bankrupt company.

Contact your states insurance commission for better answers because this is technical and we goofs here probably will give bad advice.

]]> By: caitlyn http://assetsforbankruptcy.com/if-a-life-insurance-company-goes-bankrupt-what-happens-to-whole-life-insurance-benefits/comment-page-1#comment-1128 caitlyn Wed, 16 Jun 2010 08:27:54 +0000 #comment-1128 If the carrier goes bankrupt, the policy gets transferred to another insurance company licensed to do business in your state. It happens ALL THE TIME, companies going out of business and policies being transferred. Yep, that "adjustment" happens, and if the policy is actually not whole life, but a different kind of policy, it's going to start costing every year as the investment returns won't be enough to pay the premium every year. I'd suggest that the policy is not "paid up". Try this site to find the best life insurance http://best-life-insurance-usa.blogspot.com/ Here you can get quotes from different life insurance companies in your area, its the best way to find an affordable life insurance with a reliable company. If the carrier goes bankrupt, the policy gets transferred to another insurance company licensed to do business in your state. It happens ALL THE TIME, companies going out of business and policies being transferred.

Yep, that "adjustment" happens, and if the policy is actually not whole life, but a different kind of policy, it’s going to start costing every year as the investment returns won’t be enough to pay the premium every year. I’d suggest that the policy is not "paid up".

Try this site to find the best life insurance
http://best-life-insurance-usa.blogspot.com/
Here you can get quotes from different life insurance companies in your area, its the best way to find an affordable life insurance with a reliable company.

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