Consumer reviews and reports on scam companies, bad products and services
Conseco Life Insurance Company Ripping off Long time customers when they get older Internet
14th of Nov, 2011 by User699883
I bought a Conseco Whole Life Insurance Policy when I was 45. My monthly premium for me and my wife ($100K for me and $50K for my wife and a child rider for $10K) has been $57 monthly for all of these years. All payments made on or before time. I have paid over $12,000 into this policy. I received a letter from these jerks the other day that my premium was going up to $595 monthly!! They shot me some bull about it costing them a lot to maintain the policy whatever that means. So, I have to look for other insurance or pay the $595 monthly! There is no catches here, I have been a loyal customer for all these years. I am now 64 years old and face no life insurance for my spouse due to these bums. My next step is to contact the Insurance Commissioner in my state and get them involved. I called these ripoffs and was told (about a month ago) that they would send me several options to either "lower" my face amount or "shorten" the term of my insurance to keep the premium lower. Of course, how much lower is unknown. Thanks Conseco for screwing up the thousands of lives across the country. May you become instantly bankrupt!
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