Is it possible and/or legalto buy Life Insurance on web without?

Question

SIGNING an application? I was told I had done this by PEOPLES BENEFIT LIFE I after searching web for quotes and found they were drafting bank account.& will not returning money? All other quote inquires they had to send me app to sign.?? they said I pressed a "continue" button"

Answer 1

I agree with some of what "The Advocate" tells you, but I have these comments:

1) Some states, such as mine, require that a policy that is applied for electronically be followed up with an actual signature. This is to prevent fraud. Your state's insurance commissioner's office should be able to tell you whether there is a similar law if you call.
2) If you do file a complaint with your state insurance commissioner's office, please DO NOT call there every few days, as "Advocate" suggests. If they have your complaint, there is no polite reason why you should do this. You can fax your complaint, or send it certified mail if you're concerned about it getting there. Repeated phone calls will not put you on the best footing with the commissioner's investigative staff.
3) A 30-day "Free Look" period is not the standard among the states. Most states only permit either a 10 or 15 day free look for life insurance policies.
4) For "direct mail" business (i.e. conducted through the mail without the necessity of an agent), the "Free Look" period is usually measured 3 days from the date the insurer places the policy in the mail to you. SInce the policy was issued at least two months ago, judging by your comments, you cannot argue the "Free Look" position. Even if you didn't get the policy, it's the insurer's word against yours. Unfortunately, the insurer usually ends up winning. Some will refund if you've made a complaint through your insurance commissioner, though.
5) You didn't specify how many premiums have been withdrawn from your account. However, if it's been more than 2, you're going to have an uphill battle trying to argue you were unaware of the policy.
6) If you haven't done so already, send the company a letter cancelling the policy if you've decided you don't want it.

I hope this helps.

Answer 2

Write your state insurance commissioner and the federal trade commission, copy the insurance company on the letters.

Keep it short, the insurance company has no case ! Almost every reputable insurance company has a "30 day free look" included in their policies, send it back for a refund for any reason you choose or no reason at all. Start badgering them for your free look at the policy ! The "application" includes your certain representations made, such as age, residence, etc. Question this !

By the way, this insurance company will not be looking forward to hearing from either FTC or state ins. commission, but just to speed it up a bit, start calling the state insurance comission about twice a week. Refer to "have you got my letter yet ?"

FTC will take longer, but you should get some action out of the State Insurance Dept. in 90 days or less.

Answer 3

From what I understand it is possible for you to electronically sign an application online. I s the rate good, then I guess not reaaly a propblem. If bad, then might consider closing bank account. Policy will then lapse and cancel. Good idea though to keep the current coverage in place until you get replacement coverage. Who knows what could happen that might render you uninsurable. Once you get other coverage then cancel coverage you didn't want.

Answer 4

Dear firned! if u give the name of insurance company also it is easy and direct answer you can get .
however as an financial advisor ,with 4 years exp , i know any one can cancel the policy with in fifteen days of reciving original policy bond by post to you, though u are bound as you understood and accepted all terms and conditions on proposal form.
Second thing as u writen only money went to the company and now they are requesting to sign on proposel form,so do not sign on proposal form so that ur amount will be concider as proposal deposite . any proposal deposite can be taken back without single N.P Lost.
(the above rules imply in india for 15 insurance companies both private and govt)

if you want u can call me on 9440884300 if it is an india insurance company .

Answer 5

you might want to cancel that this days just clicking a continue button or a " button that means you accept the terms and policies regarding of manual signature. You might want to close that bank acct or if that is too much hassel you want to tell your banker to stop auto pay from that party that cost around $15 on a 6 months...

Answer 6

First, you need to ask your coverage rep this question. the clarification for that's because of fact all plans are somewhat diverse. additionally, each state regulates the coverage companies doing company withn their borders, and might impose law dealing with this specific subject remember. notwithstanding, what i'm approximately to enable you understand is a popular answer, no longer a particular one. lower back, you will ought to learn such as your coverage rep to confirm for specific. maximum businesses impose a waiting era for advantages. What meaning is they're going to impose a timeframe, oftentimes 6 months to a 300 and sixty 5 days, wherein advantages would not be paid, if the insured member suffered an insured dying subject. So ask your rep what the waiting era for finished coverage is. 2d, you need to additionally word of the spcific language of your coverage. maximum existence coverage regulations cover you for "injuries," no longer wellness proper themes concerning mortality. So in case you have been to go through a coronary heart attack, too undesirable. yet once you're run over via a bus, high-quality. additionally, acts of conflict and acts of God are classic exclusions to maximum coverage regulations. enable's say you're on the 9th tee and a lightning bolt strikes as you're making your upward swing, taking your existence. Oops - act of God - no longer coated. Lightning, wind, tornadoes, hurricanes, the climate greater often than no longer, severe warmth, can all be seen acts of God, and not be coated, so it quite is a sturdy thought to ask your rep what's and is not any longer coated, once you do no longer understand. you may continually take a duplicate of your existence coverage certificates to an lawyer for interpretation. they may be strongest in interpreting what you're genuinely coated FOR. after all, be a reliable customer. examine the high-quality print and the training that got here with what you have bought. it quite is our accountability as clientele to confirm something we purchase meets with our expectancies of overall performance. If the products or services would not supply, save around for one that does. yet do it as a clever customer. do no longer basically purchase coverage given which you want or want coverage. purchase coverage because of fact it is going to guard you from those issues you think approximately insurable, and can't stay without. What you will discover is that various the pollicies being provided at rediculously low fees furnish rediculoulsy low advantages in return. wish that helps.

Answer 7

You might want to look into that. I've heard bad things about People's Benefit Life. If something doesn't seem right, pull out ASAP.