
Every day of the week I get letters from people who don't know where their life insurance company is now. At least one family last had contact with their grandfather's company in 1894.
Some of these "lost" companies are STILL taking money from clients after three or more name changes -- none of which were ever reported to their customers.
"To this day (35 years later) P* L* insurance company is still taking premiums from his Army retirement check, however he has lost the policies and does not know how to contact the company. Please help --"
It is a shame, but many insurance companies simply do not let their clients know when major changes are made. Perhaps --
The fact is, if you haven't had contact with your life insurance company in the last ten years it may have passed through three hands since then. IF your policies were passed on to a new company at each stage then there is every chance the value has increased. Of course, there is also the possibility that your policy did not get passed on and it no longer exists. |
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