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For a lapse / overloan dispute about a Universal Life policy, which state's insurance commission has jurisdiction?

Silver Spring, MD |
Filed under: Business

Policy was purchased with a single premium in the 1980s by insured's parents, who lived in Wisconsin at the time, and later moved to Florida.

Several years after purchase, policy was turned over to ownership of insured, who lived in Pennsylvania then, but lives in Maryland now (with a 6 year stop in New Jersey in between).

Seller's letterhead (at tme of sale, I think) indcated they were in Illinois. Their current successor-company corresponds w/insured from offices (call centers?) in Tennessee and Alabama.

Which state or states have any official say in this matter? Should insured contact their Insurance Commissions? Better Business Bureaus? Other agencies?

Time is of the essence, as insurer is demanding a loan repayment of almost $9,000 by end of grace period, Jun 17 2011

Attorney Answers 2


  1. You can contact the insurance department in your state.

    Click on name or picture to see profile page.


  2. It doesn't matter where you live or where the company is. Read your policy. Near the end of it it should ave a governing law/dispute resolution c;ause that says which state's law governs the contract's interpretation and enforcement.

    PLEASE READ THIS BEFORE YOU COMMENT, EMAIL ME OR PHONE ME. I'm only licensed in CA. This answer doesn't make me your lawyer, and neither do follow-up comments and/or emails and/or phone calls, and you shouldn't expect me to respond to your further questions if you haven't hired me. We need an actual agreement confirmed in writing before any attorney-client relationship is formed. This answer doesn't constitute legal advice, and shouldn't be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue.

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