My husband and I had a life insurance offered by our bank. Is the policy valid?
My husband and I had a life insurance offered by our bank. Is the policy valid?
When my husband and I opened a checking and savings account at our local bank, we were offered a life insurance policy for free. Is the policy valid even though the accounts have been closed?
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5 Responses
1.31.2010
Best Answer – Chosen by Voters Only if you paid for it! With that kind of life insurance, you're paying for it every month.In general, it's the MOST expensive life insurance you can buy, for the least amount of coverage. If you WANT life insurance, you're better off buying a policy directly.
1.31.2010
ya i got that too but i said no to it!! they give you a 1,000 free and then bug the hell out of you to buy more,more!! but because it is free paid by the bank it is probly no good if you close your account?? check with the bank? it maybe good if you bought more than the free stuff??
1.31.2010
you have to check with the bank, probably not as you are no longer a customer. it might of been a promo to get new customers or keep old ones.
1.31.2010
It was a free group policy. No one here would know when it expires. It's probly good until the end of the one year period. Call the bank and ask.
1.31.2010
That coverage will cease if you are no longer account holders.