Can an agent sell 3 same-type life insurance policies (whole life) within a year to a person? And not leave the policy/paperwork with the purchaser?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Nov 14, 2011

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Insurance Question from Kenneth City, FL

Asked on 11/14/2011

Can an agent sell 3 same-type life insurance policies (whole life) within a year to a person? And not leave the policy/paperwork with the purchaser? My mom was sold 3 whole-life/home healthcare policies within the past year by the same agent. She does not have copies of the policies. She is having monthly premiums ($189; $169; $177) electronically withdrawn from her checking account. The agent wants to go to her house to have her sign a "delivery receipt" for one of the policies, she does not know which policy. My mom is 76, a recent widow. She does not understand what type of policies she has or with whom. I discovered the above from a conversation with my mom regarding the withdrawals and a phone conversation with the agent.

Answer given on November 21, 2011

I would call the agent, make an appt to have the policies delivered at a time that you can be there. Ask him for at least an hour and a half of his time. I would then ask him to fully go through each policy and its coverages so you can understand what your mother has purchased.  Most policy has a free 30 day look period. Therefore, she can sign the deliver receipt.  If after hearing the explanation, you and your mother decided that this is not a good option for her, you can cancel the policy and get any money back that she has paid.  It sounds like a whole life insurance policy combined with long term care.  Have the agent FULLY explain to you the cover and the EXCLUSIONS (when the policy will not pay).  Then decide from there whether this is something your mother needs and can afford and whether or not to keep to policy.     

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