Frederick E. Penn Insurance Agency Inc.

March 14,
Revdex.com
N DELAWARE ST #
INDIANAPOLIS IN 46204-
LIFE
POLICY : ***
INSURED : *** ***
POLICYOWNER: *** ***
Revdex.com ID:
***
NAIC#: ***
Thank you for the opportunity
to respond to concerns made by Mr*** regarding the cancellation of life
policy *** and the refund of his premium
On May 31, 2017, the agent *** *** called our contact
center to cancel this policyThe agent was
notified that in order to cancel a policy we must have a signed surrender form
signed by the policyowner. The contact
center representative removed the policy from bank draft and mailed a surrender
form to the insured for him to complete and return to us.
On June 1, 2017, the
insured called our contact center and
gave authorization for us to speak to his spouseThe insured’s spouse was
unhappy with the agent as she indicated that they had contacted their agent the first week of
April and requested cancellation. They
asked to speak with management however, the
team leader was not availableThe contact center representative took a message
for the insured to be called back
On June 1, 2017, our
contact center team leader attempted twice to reach the agent to confirm what
date the insured contacted her to cancelA voicemail was left asking the agent to return the call.
On June 2, 2017, our contact center team leader made a call to the
insured notifying them that the agent had been contacted to confirm the date that their cancellation request was received. The insured was also advised that a signed surrender
form would be required in order to cancel the policy. The
insured was also made aware that they
were not eligible for a refund since coverage had been provided and United Home
Life was just notified of their intent to cancel.
On June 2, 2017, the
agent returned the call to the contact center and confirmed that the client
reached out to them about cancelling days prior.
On June 2, 2017, it was
determined that the premium that was drafted on May 2, would be refunded
to the insured once the signed surrender form was received
On June 5, 2017, a system
generated letter was mailed to the insured notifying them that we had not
received their premium
On July 3, 2017, a system
generated letter was mailed to the insured notifying them that their premium
was days past due and if no premium was received by July 18, their
policy’s default option of an automatic premium loan, non forfeiture option or
lapse would be exercised
On July 10, 2017, the
agent called to see if the policy had been cancelledShe was advised that we
had not yet received a signed surrender form.She was informed that once we
receive it we would refund the May 2nd premium that was drafted. As a courtesy we mailed another surrender
form to the insured. On August 3, 2017,
a lapse letter was mailed to the insured to notify them their coverage had
lapsed due to non-payment of his premium
The policy lapsed and is
no longer in forceTo date, a signed surrender form has never been received,
therefore a refund could not be
made.
If you need additional
information, you may email me at Carmen.h***@infarmbureau.com or call 317-692-
Sincerely,
Carmen H***-Policy Review Specialist
Life Customer Service
United Home Life Insurance Company
United Farm Family Life Insurance Company