Can an insurance company arbitrarily switch my policy from whole life to term insurance?

Asked on October 17, 2013 under Insurance Law, Georgia


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

Only if the terms of the policy itself gave them the right to do so (e.g. at a certain date; or if you did not pay some certain amount; etc.). An insurance policy is a contract; the insurer may only do those things permitted by the policy itself. Review your policy to see what, if anything, would let them do this, and/or ask your insurer to point to/descrive the basis for their action.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.