Comments and Feedback from Users
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Commented By:Freddie D.
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Recommended:No
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On:27-Jan-2022
Freddie D. says:
My husband purchased this policy from Investors Life Insurance Company in 1984. We paid the premium faithfully and received no correspondence about a premium increase until 2019. At that time we were told the cash value had been used to pay the premium and that the policy was in grace period and about to lapse. We were able to pay the back premiums and make the policy current. But after that experience every time we pay the premium within a few weeks, (we pay every three months ), we receive a notice stating the policy is in grace and is about to lapse for unpaid premiums. As far as I can tell this Company exist only to defraud its customers. This company used all the cash value without notifying the policy holder and is now trying to cancel the policy for non-payment of premium. My husband has tried to reach them by telephone but the phone number listed will ring and then just stops without explanation. This seems to be common operating procedure.
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Investors Life Insurance Co Of North America’s Complaint History (1):
1 claim is currently posted for public review and comment
:
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- Claim
- Seeking:
For:
- "I just feel ripped off."
- "This feels like a scam to me."
- Bad business practices
- Failure to disclose facts
Claimant says:Company used all my cash value of my policy without notify me my statements always reflected that my premium was 167 dollars . I then get a notice my policy was in grace period if I did not pay increase which is now 583 dollars every quarter .i have tried to get some resolve to no avail get run around that they sent me a notice if this is so why wa...
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