Last night agents are able to pressure us into buying equity index universal life , this morning we realize that it is too expensive and we’d rather have term life, what can we do? It is from World Financial Group agent.

 

  • Mr Chris 5:04 am on February 10, 2010

    I don’t know where in TX you are, but if you are in Dallas the BizRadio Network (1360 am) answers questions like this all the time. You should call in and they will be happy to tell you anything that you want to know. Ray Lucia is actually the best one on staff for this sort of thing and his show ends at 2 CST. If you aren’t in Dallas you can stream the show, here is the website:

    http://www.bizradio.com/content/view/18/47/

    Unfortunately I don’t have a radio near me and I don’t know the number, but they will absolutely be able to tell you what to do.

  • BobDobolina 5:04 am on February 10, 2010

    For used cars and mortgages, there is a 3 day period where you may back out. Texas has great laws that protect consumers. I’m sure there is, but you have to act quick.

  • jimapalooza 5:04 am on February 10, 2010

    You need to look at the fine print where it discusses changes in policy, or cancellation of the policy. They may have a clause in there that states you can’t have all or even any of your money back if you cancel the policy. Depends on how it is written.

  • michaelh7 5:04 am on February 10, 2010

    Most Texas policies will provide you with a "free look" or "right to return" period of at least 10 days, during which you may cancel the policy for a full refund for any reason.

  • mbrcatz17 5:04 am on February 10, 2010

    Stop payment on your check. Call them, tell them you don’t want it.

  • cvw_10 5:04 am on February 10, 2010

    In KY, the "free look" period (the time when you can get your money back if you decide you don’t want it) is 30 days.

    TX, according to the Department of Insurance’s website, has a 10 day free look.

    http://www.tdi.state.tx.us/consumer/glossary.html#F

    Your particular policy may allow more than 10 days, but looks like state law requires at least 10 days.