Canceling Policy During Divorce

Jul 8, 2019

  1. Tahoe Ray
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    Tahoe Ray Guru

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    No exam doesn't mean no underwriting. You'll still need to disclose the health issues.

    Talk to a new attorney about this asap.
     
  2. Life Hawk
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    Life Hawk Guru

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    Do you know the policy number?

    If so, I would get a money order (perhaps in your husbands name) and send it in to keep premium alive if you can. This shot in the dark may prolong a bit longer the life of the policy until you can get the court to redress your issue.
     
  3. Tahoe Ray
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    Do carriers allow money orders?
     
  4. theleadingagent
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    theleadingagent Expert

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    ^the ones I use require checks/voided checks though it depends on what that specific carrier will accept

    People violate decrees and court orders all the time. Just like people get into court swear to tell the truth then lie through their teeth.

    Plenty of defiant vengeful exes have no problem being in contempt of court especially if they think they won’t get caught or if they do get caught nothing can be done to punish them.
     
    Last edited: Jul 10, 2019
  5. Allen Trent
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    How do you know Prudential accepted the cancellation if it is still showing as active & in force. I would call Prudential to ask if a term policy can be cancelled or must it lapse for non payment. Then, I would ask for a fax or email that your attorney or the judge can send to try to basically put an injunction on the cancellation form from being processed until this can be sorted out. I wouldn't talk a ton about his health problems if you call Prudential as that wouldn't necessarily help them want to hold off on the cancellation
     
  6. Allen Trent
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    Capture.JPG here is an example of 1 carriers surrender/cancel form. you can see it states a term policy cant be surrendered (at least with that carrier). so, for a client to have their policy cancel, they would make sure they take their premium payment off monthly EFT from a bank account & put it on a manual bill like quarterly, semi annual or annual. then, they would receive the bill & not pay it. they would then get a legally required 30 day grace period letter allowing them to still pay. then the policy would either lapse for non-payment or the carrier may allow another 30 day late payment notice that would say there is no coverage but the policy can be kept if the premium is paid before that additional 30 day late payment period expires.
     
  7. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    how old are the kids......
     
  8. sparklyu
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    sparklyu New Member

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  9. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    OK....NOW YOU HAVE A ANGLE....you go at him with you will be needing a life insurance policy in place to take care of child support if he were to die....get your lawyer on it.......
     
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