T
tmj
Guest
My parents took out a life insurance policy on me when I was two years old. The original policy is from Bankers Reserve Life Insurance Company in Denver, CO. It is now held by Globe Life and Accident Insurance Company in Oklahoma. It was issued in North Dakota. I am now 29, and trying to surrender the policy. The policy has been transferred twice - I have all notification letters and the original policy. I called the company that now holds the policy on December 20, 2000 to surrender the policy. They told me they had to access the original application on microfiche to determine the owner of the policy. I told them it stated on the policy that my father was the owner, and could fax them a copy. They told me they had to get that information from the original application, and that this would take about 3 days. I got this same line every time I called for the next month. Finally, they told me that since they couldn't find the original application, the check would be made out to me as the insured. This was on January 20th, 2001. I called ten days later, concerned because I had not received the check. They told me that when they sent the information out to the company that writes their checks, they told them that I was not the owner, and that the check must be made out to my father. I have called them twice, and both times have been told that the check was mailed to him on January 31st. He has not received it yet as of today. They told me they will not issue a stop payment until 15 business days have passed. They also told me that they do not send checks out by registered mail, which I find odd. My question is this: I believe they are stalling me, and for some reason do not want or plan to pay out the policy. What steps can I take to ensure that they don't yank me around? If the check doesn't arrive, and they have to put a stop payment on it and reissue another check, do I have a right to ask that they send it registered mail? Any advice is appreciated.