If a life insurance company goes bankrupt, what happens to whole life insurance benefits?
My Dad purchased whole life insurance through AXA Equitable which is all paid for. What happens if the life insurance company goes bankrupt or their assets are under water like so many other financial institutions these days? Will the benefits still be payable?
I also think it’s strange that he had to pay 0 more to this insurance company as an "adjustment"(?) recently even though the policy was fully paid for a long time ago. Is this normal?
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Categories: information on bankruptcy Tags: assets, axa, axa equitable, dad, financial institutions, insurance, life insurance company, long time, whole life insurance