I love how people don't follow up on their complaints. There are 15 angry reviews regarding a company with millions of customers. I've worked for Stonebridge for a couple of years now and I've got a pretty good idea of what's going on in most of these cases.
First I'll start with the rebates. There were a lot of rebate checks that were issued on a closed account and the exact same people got a new check about a week later. We paid any bank fees, so if you had to send a bank statement, it's just to prove that you were, in fact, charged. It cost the company upwards of $100,000. If you think that Stonebridge is creating some rebate scam, so they can pay your bank, I'd say they were the worst scammers ever. This is a massive company that isn't interested in ripping off whatever you have in your bank.
Gtoe: On accident policies, the accident has to be independent of all other causes. If you have epilepsy or parkinsons and you fall as a result of that, the policy won't pay. I take claims on accident policies that do pay all the time. Sorry for the loss of your loved one, but the policy is clear in what it covers. If someone is driving a car and they have a heart attack, crash the car and die, it's not going to pay. It's all based on what the medical examiner says.
Nangin, if you send a bank statement showing the charge, they will find the policy that is charging. There is no way you're being charged for a closed policy. It doesn't happen. What does happen is someone will have a policy under their initials or listed under some other name, phone number etc or under a spouses name or a child that they carried insurance on. The only way to find out what your mother's account was actually being charged for is to send a bank statement, so they can look it up by account number. Again, a ceased policy absolutely doesn't charge.
Santino, the calls that you were getting about being behind on payments were from your credit card company, not stonebridge. If someone's policy is behind, it just lapses.
Carebaby I'm sorry you feel the way you do. Let me explain, your mother had whole life insurance. There is no point at which someone could stop paying for a policy and have it stay in force unless they have been issued a paid up policy. What does happen is people call us and tell us to convert it to extended term or if a whole life policy goes unpaid it will convert to extended term insurance and go on continuing to cover the insured until the cash value has been exhausted. You can get a record as to why and when it was converted if you call customer service. If unpaid, it charges the premiums as a loan for the first 2-3 months, then converts. Each time a loan is taken out, a notice is issued.
Execu49: Sorry for the loss of your wife. If you call customer service, you can get on the do not solicit list. I assure you, we wouldn't intentionally send an offer for life insurance on someone that has passed on. I'm not sure how that would be a scam.
Cherylroxanne: In 2.5 years of working there I haven't come across someone that didn't authorize it yet, but you may be the one. If you'd like to dispute the authorization, I'd hope the rep you talked to mentioned that the enrollments are all recorded, so you're welcome to do that.
JayJay: what the customer should do is call stonebridge and cancel it. Your credit card company can't cancel it and they won't be able to tell stonebridge to cancel it, but stonebridge's phone number is on every one of your bills. Just call stonebridge and we'll cancel it. Again, we can't cancel it without you telling us that you want to cancel it.
Sandy, I'd have to look at the policy you're talking about to comment. What you're describing is credit insurance, but that wouldn't be $20/month for an $1800 balance. It's probably either life insurance or accidental death insurance.
Billy, if you call customer service, they will cancel the policy... Or maybe you did since you said you would give an update over a year ago and never came back.
To everyone that left personal information: This is not Stonebridge's website. Never leave personal info in on a public website.
Again, I'm a customer service rep from this company and if I felt that it was an unethical company, I assure you, I wouldn't work there. I'm doing this in off time, so I'm technically not representing them with this post. Maybe I just like my job so much that I do it in my off time.
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