Insurance FAQ
 

Should I Keep My Horizon Life Insurance Policy Through American-Amicable Life Insurance Company Of Texas?

Question by robbase7 | Posted in Insurance

I'm a soldier and bought this policy 6yrs ago. Got a letter and check in the mail today saying the company had a settlement with the government.

Answer: You probably already know this, but the American-Amicable Life Insurance Company of Texas was sued by the Securities and Exchange Commission for engaging in shady selling practices. It involved the Horizon Life line of products that was part of the “Building Success” program. The settlement calls for $10 million to around 57,000 military personnel and a refund of $1.4 million to Fort Benning soldiers for a program sold there. (link below to the SEC litigation release).

I would look elsewhere for investment and life insurance since this company appears to have been involved in less than upright business dealings. I would think about what you want out of a life insurance plan
 
 

American Amicable Life/Horizon Life Insurance Questions..?

Question by eirama21 | Posted in Insurance

Year1-100%toward premium, yr.2-7- 75%, after yr.7 100%.Started at age 21.5, soon to be 24.Paying $100/mo., so estimate $1700-2000 paid into it so far.It's 20year policy, no fees after year10, otherwise 5%withdrawal fee.Didn't know much about it at the time, but been thinking to cancel policy, cut my losses(over$1500/current value$250), and take that $100mo. to low-risk mutual fund with my bank(USAA).Husband is miltary& has SGLI, FSGLI,7yr.term/$50,000.He's 23 with 5 yrs. in so far&plans to

Answer: Without being able to see your total financial picture, I would lean towards you are thinking pretty good.

One question tho. Is your husband covered by SGLI and FSGLI for 50k each or is he covered for a total of 50k?

This seems way under protected. Do you own your own house? How about your debt? Do you have alot? Are you working right now?

I would ask you for an appointment to take a look at all of your finances. Without doing that, I would not be able to reccomend a course of action that would be to your benefit. I would feel as if I were blind.

I do feel you should consider cutting your losses with the insurance that you have. It

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