insurance scams

Does anyone have experience with life insurance companies selling policies as "pension plans" for nurses, now or in the past? What was the outcome? Was anyone able to retrieve all the money they took, and how? Thanks to all who respond.

[cannoli]

Why are you asking the question?

[eyesonly]

Seeking help with personal insurance fraud victim, who found out too late that pension did not exist, and company took over half of the "premiums" and would not return it when confronted with fraudulent sale. Vicitm entitled to only half monies paid now. Didn't AJN have article on this some years back?

[cannoli]

I don't know. I never saw it. Are you a lawyer?

[eyesonly]

No, not a lawyer. A nurse who was scammed. Just found out pension plan doesn't exist. Was sold fraudulently. Trying to find cases where this happened and successful outcomes.

[cannoli]

Where did you buy it from? Where was it advertised, can that source help you? What about whatever agency regulates insurance in your state?

[eyesonly]

it was an agency called professionals helping professionals, which is now defunct. wrote to insurance commissioner, but they can't enforce it if insurance company denies it. Insurance company denies pension plan, states was always just a life insurance policy. Wondered if anyone else out there has similar experience.

[cannoli]

So you never had anything in writing saying it was a pension plan? What about a written ad, maybe in an old magazine, if they advertised in writing? There is another nursing discussion board, maybe you would have better luck there.

[eyesonly]

It was a mail-in postcard I believe, 10 years ago. That company is gone, and it sold out to another life ins. co. What is the other discussion board? I'm new to this site. Thanks anyway for your answers.

[cannoli]

Nursingspectrum.com is the site, nurse to nurse is the discussion board. Good luck.