What is the name of your state? Ohio
I had a 10 year term life and it matured a few months ago. The premium was paid electronically each month. A month before its mature, the insurance company sent out a renew letter to me but in an wrong address (the address I lived 10 years ago), so I did not receive it. On other side I didn't notice/remember the mature time and also never planned to renew it. The company automatically renewed the policy and continued withdrawing the new premium (about 3 times higher) for a few months until I noticed it. According to the terms on the policy, the policy will be renewed automatically upon the payment of the premium due. My question is: Can I request the insurance company to refund the new premiums they withdraw from my account since I did not authorize them to withdraw the new premiums and renew the policy?
Thanks for your replies in advance?
I had a 10 year term life and it matured a few months ago. The premium was paid electronically each month. A month before its mature, the insurance company sent out a renew letter to me but in an wrong address (the address I lived 10 years ago), so I did not receive it. On other side I didn't notice/remember the mature time and also never planned to renew it. The company automatically renewed the policy and continued withdrawing the new premium (about 3 times higher) for a few months until I noticed it. According to the terms on the policy, the policy will be renewed automatically upon the payment of the premium due. My question is: Can I request the insurance company to refund the new premiums they withdraw from my account since I did not authorize them to withdraw the new premiums and renew the policy?
Thanks for your replies in advance?