Legal Question in Insurance Law in Florida

Who is responsible for payment?

Hello,

When I was a minor, my parents took out a small life insurance policy on me. Later, while I was still a minor, they borrowed against that policy. Now, many years later the insurance company has approached me to pay off the balance of this loan. I have never paid a premium on this policy and I did not sign any papers. Who is responsible for payment of the loan? Myself because it is my policy or my parents who borrowed the money, hopefully to provide for me. thank you for any assistance you can provide.


Asked on 4/29/05, 6:37 pm

1 Answer from Attorneys
Randall Gilbert Gilbert & Caddy P.A.

Re: Who is responsible for payment?

Draft a letter and do the following (1)Ask for a copy of the policy or written instrument which they are trying to enforce against you; (2) Ask them to specifically reference the clause that obligates you to have to pay them anything; and (3) force them to produce your signature agreeing to pay them anything.

Good luck.

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Answered on 4/30/05, 8:53 am


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