What if my insurer goes bankrupt?
Whether you posses a life insurance, long term care, or disability policy perhaps you have asked yourself the following question. “What would happen to my policy if my insurer were to file for bankruptcy”? While this question encompasses a valid concern, you might be pleased to learn the answer.
Before a company goes completely under or files for bankruptcy a process called rehabilitation will first occur. This process is designed to help save insurers from going bankrupt and is led by each state’s insurance commission. The goal of this[…]