When my mother passed away I discovered that she had an account with Montgomery Ward Co. Her balance was over $1000 and she had disability and life insurance on her account. The premiums for this insurance was a percent of the remaining balance each month.
I contacted Wards to inform them of my mothers death and find out what the procedure was to get her account paid. They asked the pertinent information and said they would get back to me. Never happened.
While going through mom's personal stuff I found the insurance papers from Wards. What a surprise. If you are retired or over 65 the insurance is no good. You can't be disabled if you are retired and the life insurance is only good to 65 years old.
Mom was 72 when she died and had been paying these premiums before she was 65 and 7 years after.
I started calling Wards and as soon as they found out what I wanted, I would be transferred to a different dept. Then I would be put on hold and then they would disconnect me. I got no satisfaction from Wards and did not pay off the balance of the loan.
I dont know why they went bankrupt but it servers them right for taking unfair advantage of the elderly.
Nate Gunderson
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