Problems tend to occur when a life insurance policy is purchased, and payments are continually provided without ever making sure the policy continues to meet your present day needs.
A shocking number of policies are payable to ex-spouses or others whom the insured would NOT have wanted to receive the proceeds since things have changed from the time the policy was originally put into place. A common occurrence overlooked (more…)
By Diana Buchmann, FLMI, ACS, Assistant V.P. Policy Service and Claims North Coast Life Ins. Co.
Recently I received a call from a long-time policy holder, calling in response to a notice he received about the interest rate adjustment for his Versatile Life policy with North Coast Life. This gentlemen has maintained this policy since 1984, along with the understanding the premium is not a fixed amount and may change at times. Which must have been why he so (more…)