Legal Question in Insurance Law in North Carolina

Fraud re Universal Like Insurance
We bought a universal life insureance policy based on the agent's claim that the policy would become "paid up" at a certain time and would remain in force without additional payments. After paying premiums for many years we are now told that the policy will soon become worthless unless we start paying a much higher premium for the same coverage. Hey, is this legal?????

Asked on 7/09/00, 11:26 pm

Steven Murray Steven W. Murray, APC

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Re: Fraud re Universal Like Insurance

No, it is called fraud. I am litigating this same

matter for a doctor here in California. There have'

been numerous suits against agents and insurers for

this kind of scheme. Call me if you want to discuss this.

You do have remedies and if you have a local attorney,

have him call me.

S. Murray

(818) 501-2277

Answered on 9/12/00, 9:08 pm

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