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Life Insurance / Term life insurance

1 One Moody PlazaGalveston, TX, United States Review updated:

I aquired a term Life policy from American National Insurance Co. in 1989 and was told at that time I could take a lone against it at any time. So in the ninety's I made a lone of $350.00. I paid $40.00 a month for 20 year not knowing anything was wrong. Knew I accrued interest but always thought it would be deducted at time of death. Wrong... My policy was canciled on [protected] after taking a payment from my account that day. 20 years of paying and I have nothing. They said It went into interest overload and would take over $7000.00 to catch it up. What's with this. Confussed in Texas

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Comments

  • Se
      19th of Mar, 2009
    0 Votes

    Whoever your insurance guy told you wrong information. If you had term life insurance, you would have pure insurance, just as car insurance, health insurance, etc. However, what the salesperson might have said was that if you have whole life insurance or universal life insurance, that is when you can borrow against it. whole life has an insurance aspect as well as an investment aspect known as cash value. i personally hate this concept because whole life costs so much more. the company that i would suggest to everyone is Primerica Financial Services. they teach you how to manage your finances as well as offer very reasonable services. they only offer term life insurance, which makes sense. instead of paying so much more in premiums for whole life, take that money and invest it in a mutual fund or ira yielding high %. the salesperson scammed you and i have no idea who you wrote those checks out to. i figure the 40 a month probably went into the hands of some evil whole life insurance salesperson. sorry to hear about your misfortune. i myself have some, being scammed out of 10, 000 on a new car.. !!!

  • Br
      16th of May, 2009
    0 Votes

    Sean, I was a RVP with Primerica until I realized that PFS is limited in what they do for the client in that all they can sell is what Primerica Life Insurance Co. offers. These people are locked in with Primerica with a captive contract. In other words, they can only sell for that company. On the other hand at Helping Build Wealth (HBW Insurance & Financial Services, Inc.), we are a term company much like PFS, but instead of marketing one company's product, we market term from a host of term life insurance companies, that by the way are far, far more competitive in price to the consumer. The compensatio is greatly enhanced with these folks as well. I can definitely prove this to you if you want to shoot me an email. If you are with Primerica, don't be like the frog in the pan of water who was boiled to death.

  • Wf
      13th of Nov, 2010
    -1 Votes

    you need to talk to someone from WORLD FINANCIAL GROUP. they make more sense than PRIMERICA AND HBW. put your money somewhere safe and with a high rate of return with no risk.

  • Br
      13th of Nov, 2010
    0 Votes

    Tell me how WFG makes more sense than PFS or HBW.

  • Pe
      13th of Dec, 2010
    +1 Votes

    Mechenanic Man, save yourself some hassle from having to talk to these kool-aid drinkers. I had PFS, its a joke and a pyramid scheme, WFG and HBW are similar but with multiple companies.

    I bought my life insurance without an agent visit, in-fact I didn't even have to talk to an agent to get the best rate. I used YourLifeSolution.com

  • Be
      26th of Jun, 2012
    0 Votes

    THe medical team that comes to your home to get blood samples. Their main objective is to make as much money as possible. They use the same needles over and over. Here's what they do: They will unwrap in front of your very eyes what appears to be a new needle in new factory packaging. THey buy a kit which contains new plastic and a heat seal / crimp machine. They do sanitize the used needle, but they reuse it buy putting the used needle in the plastic packaging then they take the open end and heat seal & crimp it. Now it appears to be new & unused again. I hve interviewed many. Matrix direct and Select Quote are the biggest "Cheat Crooks" on the planet! They all will look you right direct in the eyes and lie to you to make a profit!

  • Al
      3rd of Jun, 2016
    0 Votes
    Life Insurance - no status about PF FUND
    RCSPL
    India

    MY NAME IS ALTAF R MADHARA ECODE IS 10000082 GROUP -ADAG COMPANY-RHRS BUSINESS - RCSPL DATE OF JOINING 05/07/2008 DATE OF RESIGN 08/12/2088 I SENT MY COMPLETE PF FORM TO COMPANY ADDRESS PROVIDE IN JOINING LETTER BUT TILL DATE I M NOT RECEIVED ANY STATUS ABOUT MY PF FUND AND FORM STATUS. I ALREADY TALK WITH HR PERSON ON LAST 8 MONTH AGO NOW SAME NO IS NOT FOR HR AT THIS TIME AND NOT GET ANY PROPER RESPONSE FROM EMPLOYER.KINDLY GUIDE ABOUT PROCESS FOR CLAIMING AMOUNT OF CONTECT NO OF THE COMPANY HR PERSON. ASAP..

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