Colonial Penn Life Insurance Company
Colonial Penn is Fraudulent!
- 10-07-2010
- 53
On 9-24 I received a letter from Colonial Penn urging me to increase the face value of my policy. I thought before I did that I'd see what kind of customer service my beneficiaries would encounter in the event of my death. I requested some cash value out of my policy to test the waters. My intention was that when I received the $470.23 I would write them a check. If all went smoothly, I would double the coverage I currently have.
That was 3 weeks ago, and to date I have spoken to 6 different people, gotten 6 differdent pocedures to follow, and I still DO NOT have my money!
I contend that the names and phone numbers they give out are fictitious. I always get names of people when I call and every time I call and ask for that person or extension, they are unavailable. I WILL NOT increase my insurance, I am cancelling my policy, and filing a complaint with Indiana's insurance commissioner. I've had C.P. Since never missed a payment, and I wonder if they are taking my money without providing any insurance. I assume they are. I went with C.P.in the first place because I was experierencing health issues and felt I needed more insurance. I have since regained my health and was just going to continue paying for the policy as a way of subsidizing what was already in place. Not any more!
My advice: colonial penn will rip you off!
Company: Colonial Penn Life Insurance Company
Country: USA