Please Help!

[insurancegreen]

I don't like to deal with any agent.

 

[Norwayguy]

I don't like to deal with any agent.

Then why come to a forum of insurance agents.

 

[TwiLight]

Sounds like a captive agent that churned and burned some paper. I saw this a lot in the 1980's and 90's with orphan policies. We were given orphan policies with healthy cash values to roll into new policies for New first year commissions.

I would have to say I am in agreement. I was with MetLife then and it was company policy to turn and burn....I was the top agent in the midwest and never did it. The 2-10 agents all did it and the region was promoting it. At the leaders conference in 1991, the speaker was from the Florida region teaching their technique for turn and burn.

I quit just after that conference. 3 years later, MetLife and Pru were sued for turning and burning. MetLife settled out of court for about $2B and had to reinstate all the turned policies. A year or 2 later they went public to pay for this crap.

I would say that the timing is right around the time of the settlement and this poor lady was a victim. I do know alot of the turn and burn guys started selling the variable UL product like this and she may have been a victim.

It will be all about the illustration and disclosures. Search the internet about the lawsuit and seek out an attorney. In most cases a threat of a lawsuit may get MetLife to rescind the policy and reinstate the old one.

Good Luck.

 

[mmdz33018]

I don't like to deal with any agent.

Do you have a choice? In life insurance?