AboutJohn M. Buob Expertise I am a tax planner, preparer and business owner. Spent many years in the life insurance business. I advised business owners on the the aspects of business owership and tax planning for their business. I DO NOT answer questions about the stock market.
Experience I am a tax planner, preparer and business owner. Spent many years in the life insurance business. I advised business owners on the the aspects of business owership and tax planning for their business. I DO NOT answer questions about the stock market.
Question A friend of mine purchased a $25,000 life insurance policy on her husband with his knowledge about 6 years ago from J C Penny. The company has since been purchased by Stonebridge. Recently her husband died from cancer. The insurance company refuses to pay because they said her husband never signed a consent form for her to purchase insurance on him. Do they have a legal right to deny this claim. Thank you.
Answer He would have had to sign the application even if she was the owner who paid for it. You can't buy a policy on someone who cannpt sign the application. She needs to contact the state insurance commissioner in the state where she lives and file a complaint against the company. Once the commissionergets invloved, the companiesback down and pay up. Good luck, John
