Through Trans America, my dad has a $50,000 entire life insurance policy on me. I requested a copy of the policy so I could have it for my records when I turn 18 next month. He replied that he was unable to provide it to me. Can I just buy my copy by calling Trans America?
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If he is the owner, that is. If he wants a copy, he can contact. There are companies who charge for duplicate policies. Transamerica is under no duty to provide you with information—and it shouldn’t.
You are essentially powerless to change the coverage unless he transfers it to you. Rather than bringing it up, I would express my gratitude to him for paying the premium and request that he designate you as a contingent owner, thereby giving you ownership of the insurance in the event of his death.
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