Fidelity Security Life Insurance Company Risk ManagementForrest T. Jones I Purchased an Individual Disability Policy - Now, Several Years Later, They Are Saying Its a "Group" Policy Because They Created a Trust: "Consumers Of America Trust" Kansas City Missouri

I am filing a separate RipOff report on my dealings with the company in regards to the handling of my valid claim that they have failed to approve or deny for 6 enitre months, however, I wanted to report the following on this particular subject.

I filed a complaint on this company to the Florida Office of Insurance Regulations due to the claim handling issues.

One of this pieces of information Fidelity Security Life Insurance Company (FSLIC) reported back to the Insurance regulators what that I did not have an Individual Policy, that I have a Group Policy.

In good faith, I purchased, with my own money, an individual policy for myself.

One of FSLIC’s agents assisted me in purchasing a Long Term Disability policy through Fidelity Security Life. The agent also assisted in setting up an automatic debit from my bank account each month. This is administered for FSLIC by a company called Risk Management.

I have known of no group that my policy belongs to which FSLIC would be administering. This policy is not through an employer, association or any other such group.

Today I sent an email to my insurance agent for clarification and she provided me with a response. What I was told today was that the policies are certificates under a group master policy between FSLIC and a trust called “Consumers of America Group Trust”.

This has never been disclosed to me (and was not disclosed to me when I was purchasing an Individual Long Term policy through one of their agents directly). It is not in any of the documents that were initially sent to me.

1. Is this a legitimate trust or an illusory one? Have proper documents been filed with the Florida Regulators of this policy and trust?

2. Wouldn’t this have to be disclosed to the insured up front as part of their Right To Review?

3.Who is the beneficiary of the trust? Fidelity Security Life or the insured (me)? If I am the beneficiary of the trust, why would I not know I am a beneficiary of a trust?

4. Am I considered the Policy Holder or is Consumers of America Group Trust the Policy Holder? My policy says the policy can be mutually changed by the Policy Holder and Insurer, so if I am not the Policy Holder, then someone else can change my policy after I have already reviewed the language (during my 30 days right to review) and paid the premiums for years? Since FSLIC set up the Consumers of America Group Trust trust, then wouldn’t that technically make Fidelity the Policy Holder and the insurer (in other words a conflict of interest)?

The policy is part of a trust that Fidelity Security Life set up...and I believe that "trust" that they set up was set up in a away to make the trust the Policy Holder, not me - I'm only the "Insured". My policy says the terms can be changed if the Policy Holder and insurer mutually agree - OK, so Fidelity agrees with itself it can change my policy and so they change it (since the trust was set up by them anyway???? Is this some loophole they have found to turn indvidual policies into group policies to gain ERISA protections so the insured cannot sue for damages?