We want to look at ONE INDUSTRY given TRUST with people money ---LIFE INSURANCE---TRUSTS. USF AND G LIFE INSURANCE founded in the 1940s here in Baltimore having policy holders maybe 40 years or more.
These global financial corporations have tens of millions of consumers globally---as did USFG. If one policy holder receives notice their policy is void because of bankruptcy or restructuring due to bad management-----that person is not thinking there are tens of millions of people receiving these same notices----the person is thinking only of HARDSHIP for their own family.
'Never received payment, got run around untill I ha, January, 2018
Mother took this life insurance on my dad. My mom passed first, then right after my dad. I received a check made to my mom which was deceased for my dad. I call dozens of time and was told dozens of different things to do to get the money because they had already voided the check sent to my deceased mother and would send s check out to me. Three years gone by and dozens of calls and very rude people and still no check. Horrible horrible service'.
These RUNAROUNDS for LIFE POLICY HOLDERS have been happening these few decades----USF AND G transferred those policy asset in mergers -----
We see below where USFG went bankrupt in 1998.
From Wikipedia, the free encyclopedia
FateAcquired by St. Paul Travelers in 1998
PredecessorUnited States Fidelity and Guaranty Company
FoundedMarch 19, 1896; 123 years ago Baltimore, Maryland, United States
FoundersJohn Randolph Bland
USF AND G was folded first into ST PAUL COS-----ST PAUL COS was enfolded into TRAVELERS------and then TRAVELERS was enfolded into CITIBANK------as CITIBANK was committing MASSIVE MASSIVE SUBPRIME MORTGAGE FRAUD to be brought down into bankruptcy-----allowed to shed all DEBT---which of course included POLICY HOLDER ASSETS FOR LIFE INSURANCE.
ParentSt. Paul Travelers
USF&G was an American insurance company which existed from 1896 until 1998. It was originally called United States Fidelity and Guaranty Company. The insurer formed a holding company for its insurance businesses and changed its name to USF&G in July 1981. Saint Paul Companies in January 1998 acquired USF&G for $3.9 billion.
As of late 1921, the United States Fidelity and Guaranty Company building was located at 26 South Calvert Street, Baltimore, Maryland. In 1921, the company's real estate including Baltimore and New York buildings amounted to about $2.6 million. In 1970, it built the 37-story USF&G Building in Baltimore, and in the early 1970s and over the next few decades, the former Mount Saint Agnes College campus was also owned and used by USF&G.
Saint Paul Companies in January 1998 acquired USF&G for $3.9 billion in stock and assumed debt. Saint Paul Companies had been founded as Saint Paul Fire and Marine Insurance Co. in 1853 in Minnesota before spreading nationally. The company began operating as a subsidiary of St. Paul Fire and Marine Insurance Company Inc.
The bottom line is today METLIFE gained control from CITIBANK the life insurance policies which started out as USF and G ----and ST PAUL COS-----then TRAVELERS. The point is this:
The life insurance corporate MERGERS AND CONSOLIDATIONS place a billion policy holders into the hands of a few mega-global financial corporations which without coincidence are heavily invested in a BOND MARKET---whether corporate or US Treasury----that is staged to COLLAPSE. We discuss often the US TREASURY BOND FRAUDS subprimed with $20 trillion in debt.
ALL IT WILL TAKE IS HAVING METLIFE pushed into bankruptcy to take out most of US 99% WE THE PEOPLE policy holder EQUITY.
'Travelers has not been a life insurance company for several years'.
The St. Paul Cos. and Travelers Property Casualty to Merge
November 17, 2003
'The St. Paul Travelers Companies will remain a Minnesota corporation and will have its corporate headquarters in Saint Paul, Minnesota. The specialty insurance lines, which will be known as St. Paul Specialty, will be based in Saint Paul. The St. Paul’s international business will continue to be based in London'.
Travelers Life Insurance Company ReviewAlthough one of the largest and most respected insurance companies in the United States, with offices in all 50 states and overseas, Travelers has not been a life insurance company for several years. Life insurance is available through some of its formerly affiliated companies, however.
WHERE IS ALL THAT LIFE INSURANCE POLICY EQUITY? IT WAS SPUN-OFF IN RESTRUCTURING OF ONE OR MORE MERGERS AND ACQUISITIONS----TO GLOBAL 1% OLD WORLD KINGS-----NOTHING AMERICAN HAPPENING.
History and Structure
Travelers was founded as the Travelers Insurance Company in 1864 in Hartford, Connecticut as literally an insurance company for travelers. The original scope of the company was “for the purpose of insuring travelers against the lost of life or personal injury while journeying by railway or steamboat.” Travelers became a general accident insurer two years later. The company quickly became known as an innovator, offering some of the first worker’s compensation policies in 1889. The world’s first auto insurance policy, issued in 1897, was underwritten by Travelers.
Travelers was bought out in 1993 by Primerica, a financial services company founded in 1977 by Georgia businessman Arthur L. Williams, Jr. The resulting company was named Travelers Inc. with Primerica as a subsidiary.
In 1998, Travelers merged with the major New York City bank Citicorp to form Citigroup. However the business relationship between the banking and insurance interests did not go as well as planned, especially after the September 11, 2001, terrorist attacks. In 2002, the Travelers property-casualty business was spun off of Citigroup, with the parent company retaining the Travelers life insurance business and Primerica subsidiary.
In 2005 Citigroup sold the Travelers life insurance business to MetLife, effectively ending Travelers Life Insurance century-old presence. Primerica was itself spun off of Citigroup in 2010, although Citigroup retains a minority interest in the company.
In 2004, the spun off Travelers merged with the major Minnesota-based insurer The St. Paul. The company re-acquired the rights to its familiar red umbrella logo from Citigroup in 2007. In 2009, Travelers became the only insurance company in the Dow Jones Industrial Average by replacing its former parent company Citigroup on the stock index.
These few decades have seen our US 99% LIFE INSURANCE policy holders defrauded of decades of premium payments ONE WAY OR ANOTHER. Below we see what is the LESSER of malfeasance in cases where policies are forgotten and left unclaimed. If policy payments stop because the holder is DEAD a corporation would be required to investigate the status of that policy holder----AND THEY DO NOT-----ergo, class action lawsuits.
'Many insurance companies also work hard to see to it that consumers are unaware of all available options if they decide they no longer want or can afford to keep their life insurance policies. As a result, tens of thousands of American seniors simply lapse or surrender their policies each year, rather than pursue one of the other options available to them that are often of far greater financial value'.
Here we see in 2009-------$400 million in death benefits not received because of refusal to pay with policy holders not having money or power to FIGHT. REMEMBER, most life insurance policies are not large amounts---people often wanting assurance of BURIAL.
'in 2009, insurers denied $396 million in death benefits. In many cases they get away with it because beneficiaries decide not to pursue the matter'.
Finally, we see where these practices of NOT-PAYING DEATH BENEFITS is a HUGE ISSUE----one would not find this by GOOGLING-----articles mostly say ---
DON'T WORRY ----THIS LIFE INSURANCE CORPORATION IS FINANCIALLY SOUND.
The point we want to make is that the PEOPLE COMMITTING THESE FRAUDS are the PEOPLE WITH NEGATIVE SOCIAL CREDIT SCORES in this SYSTEM-------if this SYSTEM WORKED. Rather, what we see is those policy holders having asset stolen given LOW SOCIAL CREDIT SCORES because they cannot afford to BURY THEIR LOVED ONE.
Who is getting HIT-------with illegal streaming video surveillance made PORN------those failing on SOCIAL CREDIT SCORE system being PILOTED here in Baltimore and all US cities
Life Insurance Ripoff Lawsuit
Were you looking for Bad Faith Insurance lawsuits?
Although insurance companies have a right to investigate life insurance claims many policyholders complain they have had an insurance claim denied for unethical reasons. Failure to uphold a life insurance contract and failure to payout benefits after death could be construed as bad faith insurance on the part of the insurance company and could lead to a potential life insurance lawsuit.
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Bad Faith Life Insurance
If an insured person dies during the contestability period (usually two years from the time the policy is issued), the insurance company investigates the application, to be certain the insured person did not lie or issue false statements when applying for life insurance. Some insurance companies, however, have been accused of denying benefits after death because of misstatements on the application even though those misstatements have no bearing on the insured's death. For example, an insurance policy claim might be denied because the insured lied about smoking, even though he died in a car accident. If the misstatement was about a situation unrelated to the cause of death, the insurance company must pay out the claim.
If, however, the insured dies more than two years after the policy is issued most states require the insurance company to pay out the death benefits.
Denial of Accidental Death Benefits
Some insurance companies may deny paying accidental death benefits, claiming that what killed the insured was not an accident. This may happen even if official reports state the insured's death was an accident. For example, in the case of an automobile accident, the insurer might claim the death was self-inflicted or caused by negligent driving to avoid paying accidental death benefits. Or they may claim that a death was caused by a preexisting medical condition as opposed to an accident. Insurers may claim an accident was not an accident, even if the Certified Death Certificate and the Medical Examiner's Report rule the death an accident.
Life Insurance Lawsuits
Denying death benefits can save insurers money. According to an article in Bloomberg (3/1/11; citing a report from the American Council of Life Insurers), in 2009, insurers denied $396 million in death benefits. In many cases they get away with it because beneficiaries decide not to pursue the matter. That said, life insurance lawsuits have been filed against insurance companies accused of improperly denying benefits after an insured has died.
Life Insurance Ripoff Legal Help If you believe you or a loved one has been ripped off by a Life Insurance Company, please click the link below and your complaint will be sent to a lawyer who may evaluate your claim at no cost or obligation.
Published on Oct-10-13
LIFE INSURANCE RIPOFF LEGAL ARTICLES AND INTERVIEWS
Consumers Hit with Massive Universal Life Premiums Join Class Action
September 25, 2016
Los Angeles, CA: Rip off is a harsh term, although one plaintiffs embroiled in Life Insurance Rip Off lawsuits use with complete comfort. At the very least, consumers holding universal life insurance policies currently facing massive rate increases are stuck with a classic catch 22 situation, in that policyholders annoyed with rising premiums, or unable to pay them, have few alternatives given their age
Life Insurance Industry Under Investigation for Unpaid Claims
by Darwin Bayston, CFA - President and CEO - Life Insurance Settlement Association | April 25, 2016
The award-winning CBS News television program, 60 Minutes, aired a disturbing story this week that should be cause for concern for all Americans who own life insurance policies. The story, reported by CBS News Correspondent Lesley Stahl, shone a national spotlight on calculated efforts by life insurance companies in several states to avoid paying life insurance claims.
The strategy is made possible by the fact that many people purchase life insurance policies when they are young adults and toss the policies in desk drawers, while continuing to pay the premiums year after year. Often times, the beneficiaries of the policies are unaware they even exist, with the insured individuals relying on the companies who sold the policies to make good on paying out the death benefits to their beneficiaries when they pass away.