On Monday, April 20, 2015 at 9:37:22 PM UTC-4, wrote:
On Mon, 20 Apr 2015 20:18:02 GMT, (Scott Lurndal)
wrote:

Ed Pawlowski writes:
On 4/20/2015 1:01 PM, krw wrote:

;-) I can't think of an investment that wasn't intended to have a
positive return.
How about life insurance, Mr. investment expert. ;-)

Only criminals "invest" in insurance. For everyone else, it's an
expense. The return is *expected* to be negative. It *has* to be
(for other than one contemplating insurance fraud).


Life insurance can have a great payback if you die at the right time.
Not everyone does though. Poor planning, I guess.

There are also policies that have an investement portion;
where funds in excess of the premium are invested in various
income-generating opportunities. Those funds can be claimed
if the policy is cancelled prior to the death of the covered individual(s).
That was the intent when we bought a policy - but the company has
changed hands/names 3 times and the current company denies the option
exists. Gona rattle some bars.

It's possible that the terms of the contract changed somewhere along the line and you weren't aware of it/don't remember/didn't understand/etc. (Nothing personal!)

In many cases, an insurance company can petition the state in which the policy was sold requesting permission to change the terms of the contract as long as they change the terms for an entire class of people. For example, one such class might be everyone that bought that specific product, e.g. Generic Ins Co Ventura III Premier Variable Life.

For example, NYS recently allowed an Ins Co to change the terms of a specific Long Term Care policy such that the original 5% inflation adjustment was reduced to 3% for the same premium payment. Owners were given the option to retain the 5% by paying a substantially higher premium.

Is it possible that with all the change of carriers in your case, the notice of the change in terms got lost in the shuffle?