Can life insurance company refuse to pay monthly annuity legally

[Willie11900]

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

 

[LdiJ]

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

My life insurance company failed to make this month's payment, and I'm worried. Annuitant is still alive, and as far as I know life insurance company is is legally bound by the insurance contract to pay. Life insurance company is still in business as far as I can find out. Do I have anything to worry about? I believe in case the life insurance company goes belly up, the state government can pick up the insurance contract to pay the benefit to certain amount if the state has legal provision to protect insurees.

Have you picked up the phone to call them and ask them what is going on?

 

[justalayman]

Have you picked up the phone to call them and ask them what is going on?

I'm kind of curious what business it is of the OP's. Given OP felt it needed to be stated the annuitant is still alive, unless OP thought we believed people can post after death, OP must not be the annuitant and as such, not entitled to the benefits.

 

[LdiJ]

I'm kind of curious what business it is of the OP's. Given OP felt it needed to be stated the annuitant is still alive, unless OP thought we believed people can post after death, OP must not be the annuitant and as such, not entitled to the benefits.

It would not be uncommon for an adult child to make this kind of inquiry on the behalf of an elderly parent who is no longer capable of handling that kind of thing.