Does The Bank Keep The Coverage When The Employees Terminate Or Retire?
Probably, but the bank has the discretion to exchange the contract for one on the new employee through a 1035 exchange, if it so desires. (See Surrender Penalty) The employees are tracked by Greenhouse Financial, LLC via the Social Security System. When the employee or former employee dies, we access information via the Social Security System to file the death claim with the carrier.
Related Questions
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