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#1
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Company reneging on separation agreement.What is the name of your state?What is the name of your state? Florida. My mother took early retirement in 1991 during a company downsizing. In a written separation agreement, the company agreed to pay for a life insurance policy until her death. She is 75 now and the company wrote a letter stating it will no longer pay for the insurance. Is this legal? What recourse do we have? Thank you. |
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#2
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| Whether or not this is legal depends entirely upon the EXACT wording of the agreement and, to a certain extent, on the insurance policy itself. Some life insurance policies automatically cancel when the insured reaches a certain age. If that is the case with this one, there's no point in their continuing to pay for a policy that is no longer in force. You will have to show both the insurance policy and the letter of agreement to a local attorney. We cannot evaluate the enforceability of an agreement we have not seen, nor know the terms of a policy we have not read. |
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#3
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company renegingThank you for your response. The exact wording, as one of the terms of the separation agreement is: "Your life insurance will be reduced to $20,000.00. This coverage is provided for your life at no cost to you." I beleive the insurance policy would still be in force as they offered to continue it if she paid for it herself at a cost of $2,392.00 per year. Thank you again. Last edited by bg42008; 11-02-2004 at 01:12 PM. |
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