Q: I was an insurance agent for ltpc in 2003 do I have any standing under Lion 2004 Receivables Tr. v. LTPC
I hope you can help me. My name is xx and I was an agent for Long Term Preferred care based in Franklin TN from 1999 to 2003
I was licensed in NY state to sell a variety of long term care insurance products including the NY state partnership for care products. While I was under contract with LTPC they issued a new contract which we were all required to sign and this new contract had a higher minimum of on the books sales required before the annual renewal commissions would kick in. We all signed never suspecting that the company was re-organizing financially and were closing their doors as the LTPC we new. The result was --we all lost our on-going commissions. I ultimately left LTPC due to this issue and continued my career at NYLTC Brokerage.
Lawyers, want to be a Justia Connect Pro too? Learn more ›
- (916) 704-3009
- View Profile
- Answered
A:
It's important to review the terms of the contract you signed with Long Term Preferred Care, as well as any relevant court decisions, to determine if you have a claim. The case of Lion 2004 Receivables Trust v. LTPC may have implications for former agents, particularly if it addressed the issue of commissions and contract changes. You may have standing if the case outcomes or settlements included provisions for agents who lost commissions due to the reorganization.
Consulting with an attorney who has experience in contract law and the specific issues related to insurance commissions would be advisable. They can assess the details of your situation and guide you on the possibility of pursuing any lost commissions based on the contract's terms and the outcomes of any related litigation.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
