Should the waiver of premium benefit begin on the date the disability commenced or on the date the proof of disability was received?
Posted in Life Insurance Rules 2 months ago, 0 replies
In the mean time, I called the agent back in June again and asked what the waiver of premium was. He explained it to me and I told him my husband has been disabled for many years. He sent us the disability papers for him and his doctor to fill out and sent them back in July and in the beginning of August he was approved for the waiver of premiums effective one year prior during our 20 term policy.
Our agent didnt say anything to us about our change of policy paperwork . We just found out, years later, that they honored the waiver of premium on the lower coverage policy instead on the older policy that had more coverage. We feel that our agent withheld important information from us. We feel our agent should had advice us to hold off on the policy change until we get an answer about the waiver of premiums. Also we received a letter in August stating he was approved for waiver of premium but was never sent the new policy with the lower amount.
Any suggestions?
submitted by pa in usa