Life Insurance Companies Perform Bait and Switch
January 31st, 2017|
Life insurance is one of the best ways to plan for your family’s financial future. With a guaranteed death benefit, you can be confident that your loved ones will be taken care of in the event of your death. That’s why so many Americans take out life insurance policies. It’s just the right thing to do.
But it’s no easy task. Getting approved for life insurance requires mountains of paperwork, physical exams, and other disclosures before they’ll even give you a quote. And if you miss any premium payments, you stand to forfeit your policy altogether. However, for some Alabamian policyholders, their policies are in jeopardy even though they’ve paid every premium on time and in full.
It’s called life insurance company fraud, and here’s how it works. You take out a life insurance policy and pay your premiums every month without fail. Then one day you receive a notice from the insurance company notifying you that your premiums are going up…way up. You can either pay the inflated premiums for the exact same policy or forfeit your future benefits by canceling the policy altogether. If that sounds like a bait and switch to you, it’s because it is.
At Norris Injury Lawyers, we’ve been following this disturbing trend for more than a year and are committed to holding insurance companies accountable. If you’ve received notice that your life insurance premiums are skyrocketing, give our experienced Alabama life insurance company fraud attorneys a call today for a free consultation. You did you part by paying your premiums. The insurance company should do the same. We’re ready to fight to hold them to their commitment. Contact us today.