When an insurance company fails, it is a total dead end. There is absolutely NOTHING you can do to collect. It is a lost cause. Most policy holders never even think about this. They assume that since they have this fancy policy which promises them funds if they die, have a fire or other catastrophe, all is well. Such is NOT the case. Remember the three hurricanes that hit Florida? Do you think that could have crippled several insurance companies? How about the World trade Center destruction? (I will not get into who done it!) Catastrophes which are covered by insurance, always weakens the companies. Always. Is your insurance company solvent? Did it insure heavily in Florida and take a beating? Why not check it out on its own web site. How many claims has it had per thousand policies per year? Ever think of checking with JD Powers for your insurance company’s ratings? Why not? You may need it some day! If the fancy policy is there but the company is bankrupt, what’s there to do? Nothing! Get with it people, and check out your insurance company. I looked in at one of America’s largest insurance companies on the JD Powers web site, and was amazed at its poor rating. Get Met? Not me! Just a tip.
