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I am a retired 75 year old living on SS and savings. About two years ago I cashed in a small life insurance policy and banked the proceeds. Ever since that I have been receiving a small dividend payment quarterly from the insurance company. Can anyone explain to me why this is happening? No complaints here but is this normal? Thanks in advance for any comments.
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If they are sending you payments, you must still have a policy with them. Have you called and asked them?Originally posted by harvey75 View PostSteve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going. -
Probably not the insurance
A lot of Life Insurance companies demutualized in the 80's and 90's and gave their policy holders stock in their new company. Life insurance dividends are paid annually not quarterly therefore you are probably receiving dividends from stock not life insurance. When you cash in the life insurance policy you still have the stock so you are still receiving the dividends.
I agree with the earlier post, you need to contact the company, they will probably give you another number to call about the stock. A lot of the companies use Compushare to service the small amounts of stock that were given out during the demutualization process.
Hope that helps.Comment
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Hadn't thought of that. That makes sense. My mom has a policy that did that and does pay a dividend.Originally posted by Diolla View PostSteve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.Comment
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Thanks for info
Thanks for the information. Makes sense. That's probably what's happening.Originally posted by Diolla View PostComment
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