June 08, 2012
Insurance Company: Prudential Financial
Coverage Type: Life Insurance
- Claim Handling - Fraud
- Marketing & Sales - Misrepresentation
- General - I feel abused by this company
When you take out a life insurance policy you believe that the husband and the wife will have the same end date if the policy is a whole life policy. Not so with Prudential-- my policy covered me until I was 65 years old and then cashed out. My wife on the other hand date did not cash out until she was 83. How I missed this fact I don't know but I did.
Another fraudulent thing they pull is back dating the policy so you supposedly qualify for a cheaper rate. They do not tell you that when you hit 65 you must pay an additional year of premiums because of the so called back dating. Let the buyer beware when dealing with this insurance company. In fact it would probably be prudent to very carefully check any whole life insurance policy you may carry.
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