D
debori114
Guest
What is the name of your state? CA
I have had a group term policy thru my bank for 5 years. My bank (Cal Fed) is now merging with another bank and the new bank (Citibank) is no longer honoring the contract for its members insurance. The worse part is I found out accidently when I called the insurance company last week to find out why my premium went up (auto withdrawal) and they told me the bank was not going to honor the contract as of Feb 28 03. I called the bank and they denied it but the insurance company assures me it is true. Finally Citibank said they were cancelling it. I have not received anything in writing and is that legal? What if I died March 2, we wouldn't have known there was no insurance. Can anyone help me? and if you are a victim of this Cal Fed Citibank cancellation please let me know. Also the contract says I have to be given notice within 15 days of the 31 following the cancellation if there is one-so if I am never notified what is my recourse here?
I have had a group term policy thru my bank for 5 years. My bank (Cal Fed) is now merging with another bank and the new bank (Citibank) is no longer honoring the contract for its members insurance. The worse part is I found out accidently when I called the insurance company last week to find out why my premium went up (auto withdrawal) and they told me the bank was not going to honor the contract as of Feb 28 03. I called the bank and they denied it but the insurance company assures me it is true. Finally Citibank said they were cancelling it. I have not received anything in writing and is that legal? What if I died March 2, we wouldn't have known there was no insurance. Can anyone help me? and if you are a victim of this Cal Fed Citibank cancellation please let me know. Also the contract says I have to be given notice within 15 days of the 31 following the cancellation if there is one-so if I am never notified what is my recourse here?