January 09, 2013
Insurance Company: MetLife
Coverage Type: Life Insurance
- PolicyHolder Service - Inadequate Reimbursement
- Marketing & Sales - Misleading Advertising
- Marketing & Sales - Misrepresentation
- General - I feel abused by this company
I've been insured by Met Life for over 30 years. When I first purchased the policy I was led to believe that it was a 20 payment life policy. I didn't learn until much later that the policy is a full life policy. I was sold on this policy because so many promises were made that I should of realized that it was too good to be true. When I originally bought the policy the monthly premiums were 46.00 and now I'm a senior citizen on a fixed income and the premiums have grown to $162.00 month. The salesman told me when I purchased the insurance that unlike other policies, as I grow older the premiums would decease each month instead of increasing like other insurance companies. I did report their false promises to the NYS life insurance agency and was awarded 2500.00 but when they sent the money to Met instead of forwarding the award to me they put it in an accumulation fund. I called and told them that the award was their punishment for false advertising and that I wanted it forwarded to me. They did send me the award but they also reduced the face value of my policy. Instead of having a $50,000 policy, I now have a policy of 47500.
This story has no comments yet. Be the first to leave one!