Patti didn’t realize what it meant when her life insurance company sold off her policy to an investment group. She didn’t know the dynamic had changed and that her best interest was not as important to the new owners as it had been previously. Unfortunately, the focus now was more on minimizing the company’s liabilities...
Life insurance policies need to be reviewed. Earlier generation Life policies used to have unconditional guarantees. You could count on them to be there when needed. Unconditionally. The overwhelming majority of modern, “permanent” insurance policies, however, don’t do that. Their guarantees are conditional, and the language is complex. In itself, that’s neither good nor bad...
At the peak of the COVID pandemic, my friend Joe hadn’t seen his wife for over five months. He had rushed her to the hospital and had to watch from the door while the gurney wheeled her away. It turned out she had an aneurism that needed immediate attention. The doctors saved her life, but...