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Sharon's complaint:
September 02, 2012
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September 02, 2012
Insurance Company: Protective Life
Coverage Type: Life Insurance
- Underwriting - Premium Too High
I recently received notice that premiums on a life insurance policy I have held for several years will increase from the current $ 1,302.36 (per year) to $ 16,845.00 (per year) next year. How can this be legal?? How could a person possibly pay such an enormous increase when their only monthly income is social security? They already have a lot of mymoney!
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July 18, 2013 at 10:41 PM
so sorry to hear: you must have a term policy and the term is up? That is what happens the next year because they are not designed to be affordable past their designated term of 10 to 30 years. I am a broker if you need any help off line.