Term Life Insurance Articles
Soldiers Get Life Insurance Refunds In Georgia
2009-11-25
Several Georgia soldiers are going to be receiving refunds on life insurance policies recently bought through American Fidelity Life Insurance Company. It has been detected by the State Commissioner's office that several of the insurance policies presented to soldiers by American Fidelity included specific policies that were not congruent with Georgia laws. These term life insurance policies were not written in a way that supported already established laws. Upon further investigation the state was made aware that the companies annual financial statements were not filed correctly. As a result, soldiers that bought life insurance policies between September 1, 2004 and October 31, 2009 will be receiving $275 in refund money. This refund affects approximately 962 service members.
Active duty and reserve military members are required to have life insurance. Some members, while on active duty, purchase additional life insurance coverage due to the nature of work performed state side and overseas. Frequent deployments and the possibility of leaving a family behind is one of the main motivators for purchasing quality life insurance coverage. Taking care of the family financially if the service member loses their life protecting the country is a high priority. The term life insurance, plus the emotional security of knowing their family will be taken care of, is the reason why many service members can concentrate on doing their jobs.
Term life insurance is an affordable option for life insurance coverage. Service members of all pay grades can easily afford to have this sort of policy. This sort of policy is one that covers the policyholder for a certain amount of time, the length of which is decided at signing. It can be for as little as five years, and can usually bought in terms of increments of five years up to 30. This option is especially good for service members who are only going to be in the line of duty for a temporary period of time. In addition to the flexible terms, term life insurance is also a type of insurance that pays out in high amounts for very little cost. Term life insurance is bought when whole life insurance is either too expensive, or the policyholder doesn't need the investment benefits whole life coverage provides.
When it comes to soldiers purchasing life insurance, most trust the insurance companies to work in their best interest financially. For the service members, life insurance policies are one of the most important financial transactions they will make while on duty. The government has high standards and expectations of the companies they choose to closely work with. And, making American Fidelity reimburse policyholders is proof that they are very serious about upholding these standards.
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Several Georgia soldiers are going to be receiving refunds on life insurance policies recently bought through American Fidelity Life Insurance Company. It has been detected by the State Commissioner's office that several of the insurance policies presented to soldiers by American Fidelity included specific policies that were not congruent with Georgia laws. These term life insurance policies were not written in a way that supported already established laws. Upon further investigation the state was made aware that the companies annual financial statements were not filed correctly. As a result, soldiers that bought life insurance policies between September 1, 2004 and October 31, 2009 will be receiving $275 in refund money. This refund affects approximately 962 service members.
Active duty and reserve military members are required to have life insurance. Some members, while on active duty, purchase additional life insurance coverage due to the nature of work performed state side and overseas. Frequent deployments and the possibility of leaving a family behind is one of the main motivators for purchasing quality life insurance coverage. Taking care of the family financially if the service member loses their life protecting the country is a high priority. The term life insurance, plus the emotional security of knowing their family will be taken care of, is the reason why many service members can concentrate on doing their jobs.
Term life insurance is an affordable option for life insurance coverage. Service members of all pay grades can easily afford to have this sort of policy. This sort of policy is one that covers the policyholder for a certain amount of time, the length of which is decided at signing. It can be for as little as five years, and can usually bought in terms of increments of five years up to 30. This option is especially good for service members who are only going to be in the line of duty for a temporary period of time. In addition to the flexible terms, term life insurance is also a type of insurance that pays out in high amounts for very little cost. Term life insurance is bought when whole life insurance is either too expensive, or the policyholder doesn't need the investment benefits whole life coverage provides.
When it comes to soldiers purchasing life insurance, most trust the insurance companies to work in their best interest financially. For the service members, life insurance policies are one of the most important financial transactions they will make while on duty. The government has high standards and expectations of the companies they choose to closely work with. And, making American Fidelity reimburse policyholders is proof that they are very serious about upholding these standards.
