My mother recently passed away at the age of 90.
In 1982 my mother purchased a life insurance policy written by Stonebridge Life Insurance. She faithfully made the premium payments on a policy that would pay out $2,500 at the time of her death. I think she assumed this amount would cover her final expenses and perhaps it would have in 1982.
My mother moved to an assisted living facility in 2002.in 2003 she changed the beneficiary on her life insurance policy written by Stonebridge Life.
At some point in time Stonebridge Life informed my mother that the cash value of her policy would make premium payments on her policy and therefore she did not need to mail in her premiums.
No further contact was made between my mom and Stonebridge Life Insurance.
Upon my mother's death which occured January 8, I contacted the Customer Service Department of StoneBridge Life Insurance Co. After a considerable amount of time spent on hold, I was informed that my mother's life insurance policy had "expired" in September. When I inquired as to whether she was mailed a notice or otherwise notified, I was told "we do not have to notify you" and no payment would be made to cover my mother's final expense.
Obviously had we been notified of the policy's impending expiration we would have gladly made any necessary premium payments to keep the policy in effect.
I feel cheated by Stonebridge Insurance Company and would STRONGLY urge anyone considering doing business with this company to reconsider based on my experience.
My mother was very proud of the fact that she bought and paid for an insurance policy that would cover her final expenses. We were treated with no sensitivity. This company epitomizes corporate greed.
Sincerely
Carolyn O'Shea
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