Life Insurance

Life Insurance Attorneys

Universal life insurance, whole life insurance, equity-indexed - the products are complicated, and the terms are confusing. Consumers purchasing life insurance products rely on the sales agent or advisor to accurately explain how the products work.

Unfortunately, some sellers of life insurance products are often more interested in maximizing their commissions and fees than in selling a product that has real value for the buyer. Sometimes, the agents have been misled by the insurance company or just have had little or no training with regard to sale of the product. Nonetheless, at the time of sale of a life insurance policy, buyers are often misled about the terms of the products and actual costs.

If you would like to discuss a life insurance policy you purchased, you may contact our firm, McCallum, Methvin & Terrell, P.C., and arrange a free consultation with a lawyer experienced in handling insurance cases.

Our attorneys routinely represent clients with claims arising from their purchase of insurance products. Below are some typical situations giving rise to legal claims:

• A buyer is misled about fees and charges that drain value from cash value building life insurance product.
• A buyer is told the necessary premiums for life insurance would be paid in full before retirement and then receives bills for more premiums after retirement.
• A buyer purchases a life insurance product with the promise the premiums will never increase and then years later is told higher premiums are necessary to keep the policy in force.
• A buyer is told the universal life or whole life insurance policy will be "cash-value building" and then, when attempting to borrow against it for college expenses, retirement, or to buy a home, is told there is little to no value available.
• An insurance policy is sold as an "investment" or "retirement plan".
• The family of the deceased attempts to collect life insurance benefits only to find that the policy has lapsed because the salesman was pocketing premiums collected in cash rather than turning the premiums into the insurance company.

In Alabama, the firm's attorneys have litigated cases in almost all of the 67 counties, including Barbour County, Bibb County, Bullock County, Chambers County, Choctaw County, Dallas County, Greene County, Hale County, Jefferson County, Lowndes County, Macon County, Marengo County, Mobile County, Montgomery County, Perry County, Sumter County, Talladega County, Walker County, Washington County and Wilcox County.

Additional Resources:

• Please visit our equity-indexed annuities web site, www.eia-annuities.com, for more information.

McCallum, Methvin & Terrell, P.C.

Birmingham Consumer Protection and Business Litigation Attorneys