AboutWillard R. Brumbaugh, LUTCF, CSFP Expertise I can handle questions concerning life insurance, it`s tax implications, how to determine what is appropriate, and how it fits in one`s estate and retirement planning.
Experience For 2 1/2 years I was an expert on AskMe.com, where for most of that time I was ranked #1. I have been a moderator (instructor) for the Life Underwriters Training Council. I have been licensed since 1969.
Organizations I belong to: National Association of Insurance and Financial Advisors - California
and the Inland Empire Estate Planning Council.
I hold the professional designation of Life Underwriters Training Council Fellow.
Question QUESTION: Hi, I was wondering if you knew what a "advanced premium deposit fund" is?
My mother found an old policy she had forgotten about. She paid on it starting back in the 70's. The company is a life insurance company and has been acquired a couple of times since I guess I'd have to do some research to contact them.
Thanks
ANSWER: Dear Jackson,
A few life insurance companies allow the sending in of money in excess of the scheduled premiums to be used at some time in the future. My primary company is one that does.
If you will supply the name of the company that is on the policy, I would be happy to find its current name, and determine the status of the policy.
Willard R. Brumbaugh, LUTCF
CA License 0374776
www.willardbrumbaugh.com
(888) 792-2379
willardbrumbaugh@yahoo.com
---------- FOLLOW-UP ----------
QUESTION: Wow, that would be awesome! I can't thank you enough.
The name of the company was "National Savings Life Insurance Company" - address: PO Box 1338 Murfreesboro, TN 37133
Some of the correspondence refers to the policy as "Advanced Premium Deposit Funds, Dividends and endowments.
Please let me know if you need anymore info. Thanks!
Answer Dear Jackson,
National Savings Life Insurance Company of Murfreesboro, TN was acquired by Victory Life Insurance which in turn was acquired by United Fidelity Life Insurance Company, Kansas City, MO. Over the years, blocks of NSL policies have been sold to various carriers so if you have an old NSL policy, it might take some detective work to find which company is now servicing your policy.
It would help me if you could give me the policy number and your mother's Social Security number.
Willard R. Brumbaugh, LUTCF
www.willardbrumbaugh.com
(888) 792-2379
