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Conseco Life Insurance

Conseco Life Insurance review: Fraud 35

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4:20 pm EST
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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 in 60 days in order for my policy to continue in the manner agreed upon in 1994. In addition, I must begin making premium payments beginning in January of 2009 in the amount of $99.60 per month for the rest of my life in order for this policy to remain in effect.

Update by Mike
Dec 24, 2008 11:26 am EST

I am the original poster in this thread. Here's an update. After filing a complaint with the Texas Department of Insurance and experiencing several angry phone calls with Conseco, I received a letter in the mail this week stating:

We are writing to notify you that at this time, you may temporarily disregard all previous notices sent to you (snip) regarding your policy. We apologize for any confusion you may have experienced.

So, in essence, they are saying that they are backing off "temporarily" and that they are sorry for the "confusion" that they caused me. I'm wondering if anyone else who has gone after them has received a similar notice. Also, the letter further goes on to say that they are conducting a "review" which will be completed on March 31, 2009. Sounds like they are giving me three more months.

Unfortunately, I have both a life policy and annuity with these losers. I plan on getting out of both policies (taking a $4, 000) surrender penalty and getting with a reputable company.

MM

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Conseco Life Insurance - Unfair demands 3
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35 comments
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Friendofjean
, US
Jul 29, 2018 7:20 pm EDT

This company took thousands of my elderly friends money and then quadrupled the payments so she couldn’t afford it. Her husband has since died with no coverage. Has anyone filed a class action suit to help these people?

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Memereb
, US
Apr 03, 2018 6:21 pm EDT

Amazing for me to see complaints going back 10 yrs and it appears that nothing ever changes with this company. I had a life ins policy with them going back almost 30 yrs. In August 2011, I made my annual premium payment and yet my annual stmt showed no payment. After several unsuccessful attempts dealing with them to get this resolved, I filed a complaint with the AZ Dept of Insurance and finally in December of that year, I got a revised statement reflecting my payment. Fast forward to 2017 and once again I had to deal with their total lack of customer service when I received an incorrect 1099R since I surrendered my policy last April. The numbers they reported resulted in a higher taxable amount. After numerous phone calls, sending them information via fax for them to compare the premium payments made against what they reflected on the 1099 so we could determine where our records differed, (which they never did as they sent me 2 separate letters saying the 1099 was correct) I finally requested that they send me a listing of my premium payments so that I could compare to my records and could then provide them the statements that showed those premiums they were missing. As usual, they take the request but no report ever arrives. Most of the time, if asking to speak to a supervisor, told that none is available. It is nothing but pushback from them in the hopes that they finally wear the customer down. It is appalling to say the least! Since I was at wits end with tax filing deadline fast approaching, I once again filed a complaint with the Dept of Insurance. I figured if they did not want to cooperate with me, they would have to cooperate with the DOI. I had previously indicated to them that I had all my annual statements. Following their receipt of the complaint, they requested that I provide those so they could verify my premium payments. It is a pretty sad situation when I had to incur expenses for faxing, photocopies, and mailing not to mention my time and energy in getting these accomplished simply because they were unwilling to look at what I originally provided to them. In their response to the DOI they apologized and indicate that they strive for accurate and timely customer service. That is the furthest thing from the truth. The third party administrator handling their customer inquiry also blamed the prior administrators for the incorrect information provided on the original 1099R. However, in one of my phone conversations, I specifically asked if they had access to all records and was told they did. To say that I am glad that I will never have to deal with this company again, is an understatement! Good riddance to the worse case of customer service I have ever experienced!

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Sharifeet
, US
May 17, 2017 8:00 pm EDT

Who do you need to get someone's attention at Conseco. Someone issued a 29K check in my husband's name as fraudulent act in 2003. Now in 2017 they have cancelled policy while under investigation. Just like everybody else, many phone calls, faxed lwtters, copies of checks. Still no action. Was told by rep "it apears a check was isuue per a written authorization which in fact the signature did not match the original signature on policy when issued over 30 years ago. What can be done? Has anone had a successful conclusion reached with an attorney?

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savemejesus
, US
Mar 15, 2017 2:09 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

Strongly agree, mother had policy passed away in 2011we are 3 children trying to get the policy pay out took over 3 months and they say it is only 400 dollars each? no way we know she would get a larger life insurance policy for her self, what can we do to get a copy of her original policy for our piece of mind, she was 92 when she died, and they conceso contacted us by mail to find our when she passed away and to start the process.

I pray God takes a good look at these people and helps them get what they deserve.( igreen1@stx.rr.com) this is us

our company was in jackson, illinois.

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Angry loyal customer
, US
Dec 10, 2016 1:30 am EST

We are experiencing great financial difficulties and requested a surrender of the cash value of our Conseco policy. Just drawing out cash and continuing to keep the life insurance active. I started this process in Sept. filling out the forms. Our bank is listed as a beneficiary on our policy so they also had to sign the form. Our bank that was listed on the policy had over the years been sold to another bank so that gave then an excuse to ask for information to prove the bank change. The bank provided the information. Then conseco said they needed additional information about the bank merger which was provided. In November I received a letter from conseco that they needed the articles of resolution from the bank and a list of approved bank officials authorized to sign the policy. All this information was provided and I was told I would receive payment in 10 days. In my mail today was a letter acknowledging that we would like to take out the cash value and the original forms to fill out again as if we are starting over completely. We are attempting to draw $18, 000 and are getting no where. All premiums have always been paid and the policy is current. I have serious doughts that in their event of a death I would receive the death benefit at all. My husband has had this policy for years and due to his health now I am not sure how easy getting a new policy somewhere would be. I feel I am trapped paying the premiums on a policy that is not going to pay out when the time comes. Next step is my lawyer and the insurance commissioner.

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Dawn Harlow
, US
Nov 18, 2016 3:17 pm EST

Anybody with any advice on how to get paid for a life insurance policy claim after somebody dies they gave me the run around for over 6 months till after the 6-month date and then said that's why they're not paying me that make no sense how is it that you get paid on this policy it was completely paid policy

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JanK29
, US
Nov 17, 2016 8:19 pm EST

I'm sorry, I realize I need to make some correction to my post above..

Today, Thursday, 11/17/16, it's been 10 working days (excluding the Veteran's day, 11/11/16) since I called into Conseco asking for the claim. As of today's mail, I have NOT received the claim form. The form that's been in que, it has not come through either. It will be 48 hours tomorrow, Friday, 11/18/16 around 8 am. I'm asking for anyone's advise on what I can do. If the form doesn't come, I'm not sure what I can do to collect to help pay for the funeral expenses. And...if it is taking this long for the form to come through, I can only imagine what I may need to do to collect the money.
I would greatly appreciate any advise/feedback.

Loosing my mother rather suddenly to cancer just few months after her diagnosis is already heartbreaking, this whole insurance mess is just too stressful to me and my family..Thank you for reading.

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JanK29
, US
Nov 17, 2016 8:09 pm EST

Hello,
Can anyone please give me some advice? I purchased a life insurance some 20+ years ago under my mother's name to help pay for funeral cost when need came up. Very sadly, I lost my mother 1 month ago...
I've called Conseco on 11/02/2016 to file a claim. The agent on the line told me that in 5-7 days I would receive a claim form and after completing the form send the form and death certificate. I called on Monday, 14 of this week to find out that they did not send out the form until Thursday, 11/10/16, just a day before Veterans Holiday. I called again yesterday, Wednesday, 11/16/16, and the customer service rep told me that they can fax and once the request goes into their que (?) it could take upto 24 - 48 hours to receive. I between fax and mail, the form should come. Today, Thursday, 11/18/16, the form did not arrive and I know it has been 48 hours but I also have not received form. Meanwhile, I have all these expenses that I have to deal with. Can anyone please, please give me some advise on what I can do? Reading through some older posting, some people have actually filed complaints. If I do file a complaint, since Conseco's administrative work is now handled through a third party administrator, would I be filing a complaint with where the company is located, so, with the state of California since I currently live in California?
Please help...

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M Cheng
, US
Oct 19, 2016 1:21 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

I just got a letter saying I owe $4494.00, pay before going into grace period. I have had this policy for 23 years. There have been times that I skipped some payments but for the most part, I pay monthly premium of $461.67. I am told because of age, my cost of insurance is now around $440.00 per month. That still doesn't explain the negative cash value. What I pay every month is still more than the cost. I have paid this monthly amount since day 1 of purchasing the policy. I am wondering if I should move on but I am now 60 years old.
I think we should band together and file a class action. Company do bad stuff because they think they can.

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E. Dodson
, US
Sep 22, 2016 2:49 pm EDT

Our family is also having fits with this company. My Dad passed away in November 2015, & we still can't collect the life insurance. We have contacted them many times. They keep sending us paperwork to fill out & have notarized, but when we send it in, they always find something that is missing. They will tell us one time not to fill parts out, then they send it back stating they do need that information. I don't know what they want. They have the policy & the death certificate, I don't think it is necessary to have copies of his family tree all the way to great-grandchildren. Even though my Dad passed away 10 months ago, they continue to take the premiums out of my mom's account. They say they will reimburse her. Today she received a letter stating if they did not hear from her by a stated date, it will be escheated to the state. Are you kidding me? We have called them about every 2 weeks for 10 months! They are not only going to hear from us, but from our lawyer! Something needs to be done with this company.

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billbo1
, US
Sep 11, 2016 10:28 am EDT

We are experiencing the same type issue on my mother in laws policy. Has there been any resolution / positive outcomes or suggested next steps that have worked for anyone? 9/11/16

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AshleyZ1234
, US
Aug 15, 2016 5:52 am EDT

I think someone should finally check into this company. Many of the same things that have been addressed above happened to myself and my husband and we have had our policies over 20 years. I cannot believe insurance companies can get away with this practice. I am sure there are more and more stories of people who paid money into this company or were told not to pay the interest would cover their premiums and they wound up with nothing. Can't get any one to speak with you. Stay away from them.

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Hannah Sivak
, US
Jun 08, 2016 10:20 am EDT

Recently I had my payment returned because they closed the mailbox. Is that it?
Hannah

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Jack Houseman
, US
Jun 08, 2016 4:42 am EDT

I have 2 policies with Conseco, 40 and50 years old, was paying Conseco over tha last 3 or 4 years, then premium invoice stopped, they are trying to force policies into lapes so you may not be able to collect when needed. I sent a letter, theis answer was collecting more onfo, hell they had for 4 years, they are nothing but a scam company

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Janet Reynolds
, US
May 31, 2016 2:09 pm EDT

My husband and I had a Whole life insurance policy for perhaps 25 years. It was originally with Presidential Life but was purchased by Conseco. The policy was a whole life policy and according to the policy in case of death of either my husband or I, we could continue the policy. When they finally paid the claim, the $18, 000 in cash value was never returned. I filed a complaint with the Fl. Insurance Commissioner and finally received information and an application to complete . The policy was not continued as before but the cost would now be $567.00 a month from the original $125.00. They are still holding the $18, 000 in cash value. This company is a crook and evil . Please pass the word to others not to do business with this company. Janet Reynolds janetr5@prodigy.net

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Juan Felsmann
, US
May 10, 2016 7:45 pm EDT

My father is going through similar issues with a $200, 000 policy. Basically he only had to make payments until age 60 then they cancelled it at age 70 supposedly for missing payments and will not respond to his requests

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Yvonne Sweeney
, US
Mar 11, 2016 6:48 pm EST

My mother is having the same issues with Conseco, they have triple her premiums at 85 years old. Need to start class action lawsuit against this company. This is unacceptable.

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cowden
, US
Sep 16, 2014 3:30 pm EDT

I would only hope that someone is sending all of these remarks to the CEO of Conseco, or to the CEO of Bankers Life.. Which is it called now? Bankers Life always had such a great reputation. Now I wonder,
I am trying to collect "unclaimed Funds" Already the p, o. box on the form to return is different from the p.o. box in their phone message. When trying to contact the Bankers Life number on the form, someone tells you his mailbox is full.
I can only imagine how long it is going to take to get these unclaimed funds.

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curleysue
Bradenton, US
Apr 23, 2014 6:20 am EDT
Verified customer This comment was posted by a verified customer. Learn more

You know, I am just a consumer just like everyone else, however, I don't know why people are not up in arms about ALL insurance companies! They are all out of control on EVERYTHING, whether it be home, car, life - or any other type of insurance! Maybe if they would stop bonuses and parties and gifts, they could reduce the costs of insurances and let the people have what they have paid for all these years! I don't know where this is going to stop! If you have a policy in writing, it should not matter how much costs have went up for them! That would be their problem! But a comment in regards to your situation, trust me when I say, you are not alone at all! As long as insurance companies are allowed to get away with this crap, the longer it will happen! I am truly sorry to hear what they have done to you. When my youngest daughter passed away at the age of 30, it took me almost 4 months of hounding them a few times a week just to get them to pay up on the policy that I had taken out when she was just a very young child! I will NEVER do business with them anymore on new policies that I may undertake getting! Good luck!

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Joshienana
Chandler, US
Apr 22, 2014 1:11 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

When my husband was 46 (he is now 73) we purchased a Life Insurance policy from a so called friend. The company was then United Presidential Life. It's now Conseco. We explained we needed life insurance and he told us we could also use the policy for retirement income. We were told the premiums would be $802.40 yearly for a $100, 000.00 face amount. He reminded us we could use the policy for retirement income as well.
After paying on this policy for almost 30 years, we get a letter from Conseco saying our policy is now in it's grace period and will expire in June of this year (2014). We call thinking there was a mistake. We were told the cost of insurance had gone up to over $300.00 a month and they used all the interest and cash value and there was nothing left in the policy.
We were devastated.
So after paying over $20, 000 thinking we were covered, there is nothing left. If, heaven forbid, something happens to my husband, I'll lose the house as I won't be able to afford the payments.
My husband is a 70% disabled veteran and is unable to work.
I'm sick. I have nowhere to turn. Customer service wasn't very nice and couldn't care less.

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Kathleen Surface
, US
Sep 20, 2017 2:06 am EDT
Replying to comment of Joshienana

I am going through the same thing when I turned 70. Did you get any help or legal advise?

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M.Louise Brown
, US
Jan 03, 2013 8:30 pm EST

I have contacted Conseco 6 times since December 12, 2012 for a form to surrender a policy for $923.00. Every agent I have spoken with has a story regarding how the form is late in the mail due to the Christmas Rush. I have called them over and over and have never received the form to surrender the policy. When I call, the agents/customer service wants to sell you another unit of insurance. How can the mail be late from New York to New York when I have received mail the next day from other nearby states? What I plan to do now is write the NYS Dept. of Insurance and file a complaint against them. For a simple $923.00 that I have in a policy from 1995, there should be no problem with a surrender of this policy. Of course, I need the funds or else would not bother surrendering the policy. Also, whenever I write them they tell me that I have an irrevocable beneficiary listed on the policy. Since when are beneficiaries "irrevocable". I always thought when you have a policy, you have the right to change your beneficiary as you like. This Company, as I am reading from your fellow subscribers, is a scam and should be looked into by the proper Attorneys General of your respective states. By Maritza Brown, Brooklyn, NY

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motherficore
San Marcos, US
Jun 30, 2011 8:11 pm EDT

I too am trying to collect on a whole life insurance policy. The date of death was 4 months ago and they are still running around on me. They want this document and then that document and then another document. Every time I comply they say 20 days, and in 20 some days they ask for something else. I am sooo over this place and will now write the insurance commissioner. The customer service is a nightmare and they have to put you on hold for every question you have. Iam very upset.

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Sandra Lancaster
Athens, US
Nov 25, 2010 8:06 pm EST

I had Conseco Life Insurance because a swindler sold it to me via door to door sales.
Worst decision I ever made! I later shopped all the usual avenues and then ended up getting great help from YourLifeSolution.com.

I love the agent there and it only took about 30 seconds to get a quote. I had a policy in about 5 weeks. I'm so grateful somone showed me what a rip-off Conseco life insurance is.

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roadiemanchild
Redding, US
Jul 30, 2010 3:02 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

My son worked for Bankers Life which is a subsidiary of Conseco Life. He sold a policy and did not receive his commission. I will write to California Insurance board but dout if anything happens. Poisner is running for governor. My son is doomed!

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cinday
Richmond, US
Jul 25, 2010 1:19 pm EDT

I also inherited a Conseco annuity from my mother. I called about 6 times to see if I can roll the money over into an inherited IRA. Every time I called I was told something different. I am trying to fill out the claim form but there is no provision in the form for this option so I have to write in what I want to do. I also have to take mom's RMD for this year before the account can be transferred. Consequently this is taking some time to figure all this out and they have been very unhelpful due to the phone support (general 800 number no specialists). Every other annuity company (4 others in all) gave me a personal contact to work through with direct line access.

After finally setting up the inherited IRA at another institution, I hear from Conseco that if I don't fill out their claim paper work and get it to them by Aug 7 (less than 4 months from my mother's death) they will send the account to abandoned property.

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IowaChick10
Des Moines, US
Jul 12, 2010 5:18 pm EDT

I have just had a hell of a time with this company and getting my money. I have an annuity from my grandmother, who passed away last year, for over 30k to begin with. It takes sometimes two to three weeks to get a damn check in the mail, whereas other companys take days. Talk about a pain in my [censor], especially when you are expecting or need the money in a jiff. I would never personally take out any type of money arrangement with this company. You suck Conseco!

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K Stewart Bradenton Fl
Bradenton, US
May 02, 2010 8:54 am EDT
Verified customer This comment was posted by a verified customer. Learn more

Dealing with this company has been the WORST experience of my life. My youngest daughter (age 30) was found dead on 12-21-09 & it has been a nightmare trying to file a claim on the policy that I took out in 1997 (along with 6 other policies on our family including myself). We had to wait for autopsy & tox reports before getting a death certificate issued which was just issued on 4-9-10. I get told different things by every rep that I spoke with by phone & by email. Now since I have filed a claim, the employees that I thought I could count on won't even talk to me now (I am assumming they have been told not to). THIS IS THE BIGGEST NIGHTMARE! I will NEVER recommend this company to anyone! I have tried to reach Mr. Prieur CEO of company & get blocked by employees everytime! They pass you around like a bad potatoe over & over again. All reps that I have spoken with re: my claim has said they will settle the claim within 20 calendar days - which was up last Friday 4-30-10 & still NOTHING. I even called Conseco 10 days after sending the death cert to them (I sent it certified retn recpt req'd) to see if there was anything else that was needed. After reps stalling on phone & saying give me a moment to look things over (and all they were doing was reading all the notes on the acct) they would say my claim was being processed & when I pushed them to try & find out if any prob's, they would just keep saying my claim was being processed. Every single rep that I have s/w except for one do not sound like they are from this country. I have a very hard time understanding them. Please - be smarter than me! DO NOT TAKE OUT INS. WITH THIS COMPANY! You will regret it as I do!

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Alabama State Employee
Montgomery, US
Apr 01, 2010 7:04 am EDT

I would like to say, thanks to the reviewers who where previous customers of Conseco Solutions. I'm employed with the State Of Alabama and Conseco Solution was onsite selling there product and tried to pitch me the sales pitch; that if I didn't use my policy over a 20 year period that my money, I paid in would be reimburse and he also encourage me to drop Aflac whom I'm currently with. I took the representive card and his literature and decided to do some detail research. I want to thank everyone on here for not, letting me make a mistake with this company. I work hard for my income and I want my income to work for me. This loser of a company are out to inflate there profits. It just took me viewing the Limitation and Exclusions section of both there Cancer & Heart Policy. TOO MUCH RED TAPE TO GET YOUR ILLNESS PAID. I'M HAPPY I DONE THE RESEARCH NOW, RATHER IN MY HOSPITAL BED.

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AdelBarrio
Lared, US
Dec 26, 2009 7:26 am EST

December 15, 2009

Mr. Steven M. Stecher, Pres. Conseco Ins. Group
Conseco Life Insurance Company
11825 N Pennsylvania St
P. O. Box 1960
Carmel, IN [protected]

Dear Sir:

RE: Policy Number: 0702R07911
Insured Name: Alfonso C Del Barrio

/At this point in time I am a frustrated and a very angry policyholder. Someone needs to call me to make an appointment with me personally to discuss where I stand with Conseco Life Insurance. For many years I have been a loyal and punctual customer of yours. Now is the time for me to enjoy my life and instead I am facing the possibility of having my policy cancelled through no fault of my own.

Mr. Juan M. Chiw is my agent who lives in San Antonio, Texas yet I live in Laredo, Texas. The only time that I met him was when he was named my agent. Mr original agent Mr. Reyes had moved from Laredo. Once I did so I never heard from him again. Is this standard procedure with all of your agents?

I have received several letters from your company regarding aforementioned policy. Among them a form “Request to Surrender for Net Cash Value” yet you do not mention what the cash value is.

When this policy was changed to the current plan, your agent, Mr. Chiw had phoned me asking if I was available since he was driving from San Antonio, Texas, specifically to visit with me at the company’s request since the policy had to be changed to another plan. Obviously, this was the first fleecing and now you are requesting more money to keep the policy in force. This second fleecing has cost me in excess of $35, 000.00 in premiums.

Considering you or your agent’s conduct, I will seek the advice of the State Board of Insurance and/or an attorney to give me some guidance prior to signing any more documents. It is hard to fathom from your report of 2007 where there was in excess of $4, 000.00 in cash value up the present date. Could it be that my age was a factor?

I regret that all the correspondence I receive from you does not have a single person’s name or a signature. I can only assume these are all form letters where the addressee’s name is fed into the printer, printed, and mailed out. Again, this just proves to me a lack of professionalism on your part. I have had numerous conversations with Gail in regards to other options that are available to me and I have yet to receive a response from her or anyone else for that matter.

In closing, I am asking you to consider refunding to me a major portion of the premiums that I have paid out to Conseco Life Insurance over the years, with this and the prior policy.

Sincerely,

Alfonso C. del Barrio
Sent to C. James Prieur, CEO, Edward J. Bonach, EVP & CFO, John R. Klein, SVP & CAO, Steven M Stecher, Pres Conseco Ins Group

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KarenMaureen
Rahway, US
Sep 09, 2009 8:43 pm EDT

I had originally purchased policies from Philadelphia Life Insurance Company back in the 70's and never had a problem until the company was acquired by Conseco. One of the problems I had was with the 30 day grace period and even though I mailed my payments in a reasonable amount of time within the grace period, twice policies were cancelled because they claimed I didn't get the money in on time. Both times I had to produce the cancelled check to prove they received the premium within the time allowed. Once they received proof, they reinstated the policies. I really think this was their way of trying to get rid of "the little guy" like me since the policies were a carryover from PHILCO and small ($25, 000 each). Also, I had the same issues with another policy regarding coming up with more premium on my policies like the stories noted here. Finally I just got fed up and cancelled that one.

I must also add the last time I heard from my agent must have been at least 10 years ago. I called Conseco and complained a few times and requested a new agent but their answer was they don't switch agents and they did not offer to contact the agent to ask him to call me!

I recommend that anyone who thinks about buying insurance from Conseco shop around as from years of experience with them, I can tell you it is not worth the aggravation!

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Kathy Hudson
Alpharetta, US
Mar 16, 2009 4:27 pm EDT

I have a policy with this company also and recieved the same letter saying my premiums were going to double but when I called to have an agent come out to talk with me about this no one has contacted me and they stopped taking the premiums out .Does anyone know what we are suppose to do to get at least some of our money back.

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vniet
Edinburg, US
Feb 28, 2009 1:04 pm EST

Wow this Company has got to go! I am also going through a difficult issue with Conseco. In December 08 I called to cancel my cancer policy. The settlement owed to me after 11 years was 1844.04.
They told me to sign my maiden name since the policy was initially that. I received a letter saying enclosed is the check of 1844. blah blah blah, and NO CHECK was in the envelope. I call and they're like oh yeah the check was cancelled due to name discrepency! WTF? So I send the new signature and they receive it. After other calls and wondering if everything was fixed, I get a check for freakin 7dollars and 87cents! I wrote their fraud division, I will write and call everyone I have to. I am not letting this go. It is almost March 09 and they are still screwing with me!

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ms. mcphail
Stone Mountain, US
Feb 02, 2009 1:16 pm EST

Hi,
I am writing to state my issues w/ Conseco Life Insurance. I was given the run around about my policy, when I applied for s surrender of Policy. I too was informed by the company about an under payment at which time I was experieincing a hardship. I requested a loan and was told that the paper work was not recieved then I was told that my policy was not elgible for a loan. I was told by three different reps that I had a surrender value of $4100.00, the company gave me differnet dates on the disbursemnts. I am going to file a complaiint with my State Inusurance Commisioners Office here in Georgia. The reps including Customers Relations was in consistent from the first date I called back in December. Each time I was given different inof about MY MONEY!I recommend that all of you do as I did and request to have your monies surrendered. Be sure to get the amount s quoted befroe you submit your request, you need to specify in your request that you are aware of the moratorium but due to your situation you need the funds and must surrender. ( I was on the verge of a eviction) to this day I have not recieved all of my money. I was told by a rep that she destroyed all of my request but kept the Surrender Form, because she did not see the $4100. I told her they need to get me my money, I have called and no one has returend any of my calls. I have sent emails as well and not one response.

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goingeast2
Long Beach, US
Dec 09, 2008 3:11 pm EST

This happened to me as well, Suddenly I get a notice that I must come up with over $14, 000 by next month in order to keep my policy in force. It was a paid up policy. If it is interest related, then they should have informed me of this long ago so that I could have made monthly payments. As it is, how many people can come up with this much money on the spot--especially when you have thought all this time your policy was paid up? Insurance commissioner, please take a look.