Supplemental accident "AFLAC type" policies

[Pinkpig1963]

What is the name of your state (only U.S. law)? MO

I'm giving the relevant facts as concise as I can. If more info is needed I will supply.

My mother took out several different individual supplemental accident and illness policies on daughters and granddaughters over the years (same co- not AFLAC) when they were minors. All are now over 18. An independent broker representing the co mislead her by stating he could consolidate all the payments onto one. What he actually did was cancel all the old policies and reissue new ones. One of the covered individuals had claims denied due to pre existing conditions. That's how the subterfuge was discovered. The broker knowingly had my mother sign for the adult children and grandchildren. A regional manager is now aware of this and states they have turned this broker in to MDOI for this type of activity before. I.E. Cancelling policies and issuing new ones in order to earn commission.

Any thoughts on whether an argument could successfully be made that the old policies remain in force based on the signature issue and / or the company's knowledge of this brokers prior conduct?

 

[OHRoadwarrior]

Not unless she has such an agreement in writing. The way he said it vs the way she interpreted could be different.

 

[Pinkpig1963]

Ok, but 2 more things I don't understand.

1) Doesn't the policy taker have to have insurable interest in order to purchase a policy?

2) How can policies with one's name signed by someone other than themselves be considered valid? I e Mom signed each of our names to policies in our respective names--not her own name.