My Mother purchased a Life Insurance Policy through Lincoln National Life Insurance? Is there fraud? - lincoln flexible premium adjustable life insurance
Politics is a flexible premium adjustable life insurance. A nephew of his new lawyer husband sold it to her, and she signed to us or your agent to see. Reaffirms 1) It has to pay no premium for 2) If he dies before it received in 2011, the $ 4 million U.S. 3) If you are sent to live longer, it is $ 300,000 per year! Is there a scam going on?
Lincoln Flexible Premium Adjustable Life Insurance My Mother Purchased A Life Insurance Policy Through Lincoln National Life Insurance? Is There Fraud?
7 comments:
The company is solid, and the product is legitimate. Is it appropriate for your mother? Not enough information to say here.
This is a horticultural variety of universal life products. The information I have given here is plausible, but also on certain assumptions, particularly on the internal rate of return policy. When it became clear, prudent and realistic should be done at least as good as described. If not, can your mother have to pay additional premiums to the liquidity and the current policy.
A word of caution: Consult your tax advisor about the dangers of date of a policy. If your mother is out cash from the policy, what you pay retired (the base) costs, the tax consequences of failure can be catastrophic.
Whether the policy was sold in a responsible manner is what we preach, and again relates this forum: Life has no intention to acquire the sellers (agents, brokers, etc.) or financial layman. If someone is a thorough work behaviorobjective analysis of your financial situation, buying yourself or someone who is affected. If your job is to sell insurance on foot.
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Lincoln National is an insurance company of good reputation, which is currently rated A + by AM Best
Any kind of fraud, was the seller who sold them.
You have no idea what the policy actually says, the only way not to pay the premiums, it's a huge payment to be transmitted. With this type of death benefit would have to pay to six figures.
I do not recommend you fully understand what they have purchased. In the case of an elderly mother - and more than 70 years, you might want to consider a guardianship of their situation.
N premuim? Insurance is not / can not in this way. 4 million U.S. dollars? I pushed off a cliff. $ 300k per year? No awards?
Or Miss completelty understood, or had a payment in a massive fork. If they made a down payment, check with the Office of National Commissions from your insurance company to see whether these Ligita.
Are there any plans went wrong? Yes
Lincoln National is not it? Yes
It is a good policy for them? I do not know.
The only thing that is clear that the nephew was probably condemned a commission out of it.
Why do you think it is fraudulent? You can replace an old policy with a lot of money in it. Had to do or be persuaded to do so for the benefit of the agent .... Who knows?
She paid the money and after his death within 3 years: 4 million euros. If this sounds like a scam, or seems to think it is more likely.
It is possible that some investors pay the premiums on their behalf (she is the payment) in premiums, with intent to sell, an investor group to respond after two years. (My response is on this assumption.) But it seems that there is some misinformation.
1. Investors do not pay an annual amount equal to the rule of life, how is this - an agreement for once. A solution of 7.5% sounds good, but not an annual rate of 7.5%. Something evil.
2. It could mean you pay a premium, but we must be aware and have been in LNL reported that if she's the whipping agent with the intention of the policy or to an independent third party to sell, obligated to pay premiums on their behalf. LNL is cool with the financing of premiums, in many cases, provided that the intention of the contract for professional or personal reasons will be maintained. They are generally not as agreed, the funding with the intention of a foreign life insurance (Stoli) policy. Almost always avoided by the issuance of a policy if the insured has no skin in the game & quot;. You can not get all the facts in advance of the issuance of the policy, which is a big no, no.
You can contact me via e-mail with questions.
Aaron
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