life insurance paid at 85?

[sewrita]

life insurance lies

from Idaho, my mother's life insurance policy clearly says "life paid up at 85". she was 85 in November but she still recieves a bill. the company says she has to pay premiums till one day before she turns 86, because she bought the police one day before her birthday. she has already paid almost $1000.00 more than the face value of the policy which is $3000.00. is that legal? my mother is on a fixed income and recieves about $600.00 per month. she cannot afford to keep paying premiums that should not be charged. if anyone knows where i can find information about this please e-mail me. thank you very much. [email protected]

[Edited by sewrita on 04-18-2001 at 11:27 PM]

 

[ALawyer]

While I'd have to read the policy's exact language to tell you, I always thought life at 85 means they paid on your 85th birthday.

As for overpaying, she did -- it was a lousy policy and expensive to keep -- but of course if she'd died a few weeks after she bought it the company would have been out the face amount.

Also, if the policy was a participating policy -- such as from MetLife, Pru, Hancock, etc. -- she may be pleasantly surprised as those companies' small policies have been granted increases in face amounts, sometimes dramatically, by those companies.

Ask the State Insurance Department as it can help you on something like this. Ask, but don't give up the policy until you get an answer..

 

[sewrita]

Thank you very much ALawyer, for your suggestion. I did find out that the Department of Insurance in Boise will try to help me. I am sending them the information they need. Her insurance company is JCPenny. She will continue to make her payments as usual. I can't find anything in the policy that would indicate to me that it has to be paid till she is 86. Thank you again. Sewrita