Ripped off scam on seniors. We Paid over $6,000 in premiums. To
Sentinel Security Life Insurance Company Received only $3058 at death.
Sentinel Security Life Insurance Company kept collecting the premium, knowing they would pay less than what was paid in.
We Paid $6,000 in premiums. Received $3058 at death
My husband purchased a life insurance policy in December 1999 in the amount of $3000 from
Sentinel Security Life Insurance Company to help cover final expenses.
He was 86 years old at the time. The premiums came to $702 per year. He passed away in November.
Sentinel Security Life Insurance Company sent a check in the amount of $3,058.
When we contacted Sentinel Security Life Insurance Company regarding the nearly $3,900 in premiums paid over and above the actual value of the policy, we were treated very rudely, and told that is the "GAMBLE" that WE take when purchasing insurance.
Sentinel Security Life Insurance Company tried to justify it by saying that they often pay out on policies not paid in full, and they lose money on those policies. TOO BAD! That is the GAMBLE that THEY take! As a SENIOR and a Consumer, it should not be OUR responsibility to make up for their losses.
There was never any mention of any policies regarding the insured outliving the policy. Without any notification or explanation Sentinel Security Life Insurance Company continued to collect policy premiums, knowing full well they would pay out far less upon death!
This is a rip off targeting seniors, and we wonder how many other seniors have outlived these sham policies, yet continue to pay premiums on a valueless product?
SENIORS BEWARE! Do not purchase these policies! Do not purchase a policy from
Sentinel Security Life Insurance Company or any salesman who does not fully disclose every detail and the what ifs!!!
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