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Soldiers in Georgia may be entitled to life insurance refundPosted On Wed, November 11, 2009
Some members of the military from Georgia may be entitled to a reimbursement on their life insurance policies.
According to the state's Office of Insurance and Safety Fire Commissioner, military members who purchased a life insurance policy from American Fidelity Life Insurance are entitled to a refund of $275, provided the policy was written between September 1, 2004 and October of this year.
Georgia Insurance Commissioner John Oxendine said that his office estimates 972 soldiers would be eligible for the refund. The refund comes because the office found life insurance policies issued by the company were in violation of the law.
"During my years in office I've had many occasions to work with the men and women of our armed services on a variety of insurance-related issues," Oxendine said. "As always, I am thankful for their contributions to our country's safety and well-being, and I want to do what I can to help them here at home."
According to goarmy.com, the recruiting website for the U.S. Army, one of the main benefits of joining up for the service is lower-cost life insurance. Soldiers are automatically enrolled in a plan that entitles them to a maximum of $400,000 worth of coverage.
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