Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the likelihood that Memorial or Lincoln will pay the promised insurance policy benefits to funeral home providers or Texas consumers?

0
Posted

What is the likelihood that Memorial or Lincoln will pay the promised insurance policy benefits to funeral home providers or Texas consumers?

0

Memorial and Lincoln are paying death benefits under policies. If Memorial and Lincoln encounter severe financial problems and are liquidated, the insurance guaranty association will pay benefits under policies that are in-force at the time the death or surrender occurs. Many consumers and funeral homes assigned their benefits under the insurance policies to NPS. In order to ensure that benefits reach the funeral home as quickly and as directly as possible, Memorial and Lincoln are working on having the benefits re-assigned to consumers and funeral homes. The assignments do not currently present major issues for consumers because NPS and Memorial are currently being managed together. Consumers will be updated promptly should events change which may affect these assignments.

Related Questions

Thanksgiving questions

*Sadly, we had to bring back ads too. Hopefully more targeted.