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Conseco Life Insurance Complaints & Reviews

Conseco Life Insurance - California / Unfair Demands


I have a $75000 life insurance policy with this company. When I purchased it I was told I would pay monthly premiums for five years and then the policy would be paid up. Now I have received a letter claiming my policy is "underfunded, " requesting a payment of $1200, and requiring a monthly premium payment of nearly $200. This was a total surprise. It appears I am being forced to pay a great deal of money or lose my coverage. I cannot understand why I was not made aware of this as a possibility when I purchased the insurance. I am very upset that the $75000 I was counting on to support my wife after my passing has suddenly vanished. Why is this the first I have heard about this?

Conseco Life Insurance - Texas / Fraud


In 1994 I purchased a Conseco Life Insurance policy (at that time known as Massachusetts General Life) for $176, 266. Since then, I have paid $20, 000 on the policy. Beginning in 2001 I was told that the policy would pay for itself on the interest accumulated. In October 2008 I received a letter from Conseco saying that "Due to administration issues related to my policy”, I have not been informed that my “policy is under funded”. They further state that “additional premiums are required". They informed me that my policy is underfunded by $7, 400 and that I must pay them...