by L.A.S.
Better check the name on that pre-need funeral policy of yours -- if you bought it from Memorial Life Insurance, it is now being liquidated by the state of Texas. Memorial Life Insurance sold funeral benefit contracts. After suffering a net loss of $2.3 million in 2008, the company was barred from accepting any more applications.
Fortunately your loss is protected under the Texas Life, Accident, Health and Hospital Service Insurance Guaranty Association Act. You must keep up the payments to maintain the policy in force, but check with the State of Texas insurance commissioner's office to see how to make out your checks.
Saturday, August 29, 2009
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