That made me do financial planning. Then was told the plan was lapsed and I’m only getting 3k. Now I can’t stop thinking about making/having a 1 million dollars in my savings account. I do have about 150k nest egg… any thoughts?
Lapsed as in payments are currently behind or the payments are current but there were previous missed payments?
Hey OP you can sue - I sued and won on lapsed(500k and they said no chance) , you can DM if you want. Seriously though get a lawyer I only paid 5k
I might be dealing with this in the near future, what grounds does a person have to sue if the policy lapsed?
So.. if the person paying the policy was too sick to pay it/ didn’t pay it bc they were sick. (My situation.. policy was lapsed for over 2 months but mother was sick) You can also say that the company didn’t make significant effort to notify of lapsed policy, you can even claim they didn’t get the mail and if you can prove that you can win
That reminds me… my mom passed when I was 14, and her life insurance policy lapsed only a few weeks prior. She figured she was too young to worry about it (37), and as a single parent, figured she needed the cash she could get. I even remember her telling me this, because it felt pretty macabre at the time. Then, pulmonary embolism, right out of the blue. No comedian can touch God’s timing.
Will reach out to an attorney on Monday. We’ll see what they say.
Go back to sleep 😴