For more than 20 years I paid $36.00 a month. When I was diagnosed with breast cancer at the end of last year I made a claim. The insurance has not paid any of my bills. There excuse is that not everything is covered. Cancer insurance and chemotherapy and radiation are not covered? This is just a fraud. I could put the money on my 401K or savings account and I would get a better return.
I bought a contract with another insurance company, and now Conseco owns it. The original company went out of business. For a number of years they followed the contract. Now they have a formula so that all my 401 money that was invested in the contract will be gone by the time I reach 70 unless I pay higher premiums. This is a calculated plan to milk me of all the retirement money I invested in the policy. Be aware of insurnce investments, they are sneaky. I am going to turn everything over to our state's insurance commisioer and other consumer action agencies to see if I can fight this.