Upstate NY Nesties
Dear Community,

Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.

If you have questions about this, please email help@theknot.com.

Thank you.

Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.

Anyone in the insurance field (life insurance)?

Dh and I went through a broker to get some term life insurance back in Feb.

After cashing my premium check, a month later I got a letter from the provider saying they're canceling my policy due to "missing and/or incomplete info".  Apparently they, or the broker, screwed up and had me sign a wrong # form or something, and they were afraid of getting fined by NYS, so canceled the policy.

After 3 weeks of b.s. from the broker, this is still not resolved. I checked the NYS Insurance Commission website and it says a term policy can only be canceled if you don't pay the premium, or if I provided materially incorrect info.

This is making me nuts. Especially since I thought I was insured this whole time.

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Re: Anyone in the insurance field (life insurance)?

  • I don't deal with Life insurance too much (I'm in Health insurance more) but you should be able to go to the carrier directly if you aren't getting anywhere with your broker.  The broker is just the go-between but if you have a policy number and everything, you should be able to call the carrier and see what is going on. Also, once this gets resolved you can ask the carrier if you can switch brokers to someone else.  Did they refund you the premium you paid already?  If they cancelled your policy back to when it started then you are owed the refund and then you can take your business elsewhere. 
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  • Ditto pp.  Speak with the LI carrier directly and definitely switch brokers.  If you are still able to get LI for the same $$ amount and same premium and they are going to refund the whole amount, then it might be easier to simply reapply.
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  • Thanks guys- good points. I actually did call the carrier directly, and they were able to confirm a couple of things for me. DH is going to call the broker today, and if we don't get anywhere I am totally fine with starting from scratch through another broker.

    It's good to know that even if I do get approved that I can switch brokers. There's no way I want these clowns to keep getting credit for our policies.

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  • I'm a bit late responding, but my brother would be able to help you out if you need it.  I'm usually on the upstate bump board, page me there if you would like his contact info.
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