Agent Allegedly Persuaded Ill Man To Cash In Life Insurance Policy
|By Jackie Farwell, Bangor Daily News, Maine|
|McClatchy-Tribune Information Services|
Richard reportedly recommended that the couple use the
The man, a former baker who lived in
After the man died just over a year later, his wife filed a complaint with the bureau. Following a hearing, Richard's insurance producer license was revoked and he was ordered to pay a civil penalty of
Richard denied to investigators that the couple's decision to surrender the policy was the result of his recommendation.
American Equity terminated Richard, following its own investigation, and paid the consumer the lost value of the
The investigation was closed last month, the news release states.
The bureau encourages consumers with questions about insurance to contact the agency at 1-800-300-5000 or [email protected].
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