What happens if a life insurance company goes out of business?

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In today's episode, we answer the question: What happens if a life insurance company goes out of business?
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View the transcript of this video here:
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Would I be able to sue them to get my premium payments? If the Insurance is located in New York, can I submit a complaint with FTC in California?

ismaelcalderon
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Is Penn Mutual considered one of those solid companies? I understand they are smaller than the other mutuals, but are they big and old enough to not worry?

tenderleafvillage
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If a life insurance company goes out of business then the economy is going to crash especially if it’s the big companies like pac life, nationwide and etc

TheOpinionSports