I think my life insurance company went out of business but I still get bills (with a different name on the bill). Is my policy still what it was when I bought it?
Short version: yes, your policy is still the same.
More detail: when life insurers stop selling life insurance for a number of reasons (such as when CNA Life stopped selling life insurance a number of years ago to focus on other insurance), the policies that they held were moved to Reassure America, who then billed the policy holders and honored the original contracts. Nearly the same thing occurred when Protective Life purchased West Coast Life and since then has honored those contracts. As long as you continue to pay for the coverage the policy remains in force. Policy provisions and the cost of the plan also remain the same..
Then, out of the blue, the billing gets moved to another carrier who becomes the billing entity to keep the contract in force. It can cause you to wonder what's going on!
Summing it up, regardless of who is billing you for the coverage, the provisions will normally remain the same. Check with the carrier currently billing you and ask if the policy has changed at all since the date that it was issued. They would have had to send notice and you would have had to agree to accept the contact change.
and soon to come: NoExamLife.US | 01.08.16 @ 16:22