Wrl Western Reserve
Material mispresentation of the benefits ripoff

I was induced to purchase the policy by representaions made verbally and in writing that the policy would have cash value and that i would be entitled to at least one withdrawal of cash value each year after the first policy year.

They sent me statements showing cash value, the most recent of which is dated april 13 showing a cash value of $1,772.76. Their material mentioned a surrender charge, but did not state how it would be calculated and certainly did not state that it could wipe out the entire cash value.

Upon repeated requests for a statement of the surrender charge, they did send me the letter dated april 13 which showed the cash value of $1772.76 and a cash surrender charge of $2,370.68. The effect of this is that in fact there is no cash value and it is a gross misrepresentation to state that there is. I was induced to enter into the contract based on their representations, and since they are material misrepresentations, i have the right to cancel the contract and have return of my premiums.

I now exercises such rights and demands return of my premiums. If i did not receive refund of my premiums in the amount of $2,400 in full i will pursue all legal remedies available to me including bringing a suit against them under the texas deceptive trade practices act for triple my actual damages and triple my mental anguish damages. Further i will file a complaint with texas department of insurance and the texas state board of securities.

ANYBODY WHO WANTS TO JOIN FOR A CLASS ACTION LAW SUIT PLEASE contact me by using the rebuttal box below.

Company: Wrl Western Reserve
Country: USA
State: Florida
City: CLEARWATER
Address: P.O. BOX 5068
Phone: 8008519777

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