This company is headquarterd in Los Angeles, CA and have a Service office in Greenville, SC. They took over a policy ($100,000) originally written by another company in 1987,20 years ago.
I have continously paid my premiums and I was informed a few months ago that my premiums would triple in cost because they changed their mortality tables and increased what they called the Cost of Insurance (COI).
I argued that this shouldn't effect an existing policy and I couldn't afford to pay the new outragously priced premium.in my way of thinking, these things should only be applied to new policies.
Since then the policy has lapsed because I couldn't afford to keep it, and I am unable to obtain other insurance because I've had cancer.
I filed complaints with the California and Colorado BBB and also both sates Dept of Insurance to no avail. The company won't budge on the cost or reinstate the policy at the original rate.
They have told me that it would cost thousands of dollars to reinstate plus I would have to pass an underwriting exam which I couldn't because of history of cancer. Is this a coincidence? I don't think so.
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