Legal Question in Insurance Law in Ohio
Life Insurance policy riders
10 years ago I signed up for a life insurance policy, and put my son on as a rider. I was informed that I would be sent a letter informing me when my son had reached the maximum age and at that time he would have the opportuntiy to convert to his own policy. My son turned 24 Oct. 12, 1997. By accident, I found out that my son has been removed from my policy as a rider because of his age on his last birthday. At no time was I ever contacted, I have lived at the same address for 18 years. The best part is that I have continued to pay a fee each month for this rider part on my insurance. I am extremely upset that after all this time that I was secure in knowing that my son had life insurance, he doesn't. And he never even had a chance to convert anything from what I had on him into his own policy. I am so angry, but I don't know what to do.
1 Answer from Attorneys
Life insurance problem!
Actually, I understand your anger at the lack of communication, but you should be happy: you're actually better off. Because life insurance is gambling, or at least hedging a bet. The insurance company bets that you're not going to die. Since your son hasn't died, he hasn't lost anything except protection in theory.
The insurance company should gladly refund the extra premium which you have been paying, so send them a letter demanding the refund. And your son should be able to get replacement coverage at a good rate.
The above does not constitute legal opinion and is offered for the purposes of discussion only. The law differs in every jurisdiction, and you should not rely on any opinion except that of an attorney you have retained, who has a professional duty to advise you after being fully informed of all the pertinent facts and who is familiar with the applicable law.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
