Rajordan

Rajordan (rā'-jər-dăn')

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Insurance Policy

Jan 2000 - I received the original life insurance policy bought for me by my grandmother in 1956 and started trying to find it. Called the Texas Department of Insurance and they gave me a couple of leads. I contacted who ever they suggested with out success.

Mar 2003 - After more than three years and finally getting an attorney involved, I was offered a settlement. The original policy stated that it was worth $3,899.60 in 1975. The settlement letter I received was one of those "take it or get nothing," and "you got ten days" kind of letters. It offered me "THREE THOUSAND THREE HUNDRED THIRTY-SEVEN AND 10/100 DOLLARS ($3,3337.10)". (Did you see the over abundance of threes in this number? As in "thirty-three thousand?" My attorney said forget it.) My attorney and I had quite a discussion yesterday. There was his explanation of the "in liquidation" part, the fact that there was a deadline of turning in this policy in the mid 1990's (huh?) that the beneficiary of the policy did not have to be notified of this fact (Georgia's Insurance laws), and more. I ended up signing.

Last updated on January 14, 2010