False loan claim
I am sorry....not insurance General, I was just giving a quick review for what has been a year of frustration....let me get terminology correct. I live in Michigan. After many phone calls to Prudential and a few letters, I wrote the State of Michigan Department of Insurance and Financial Services. They wrote to Prudential and sent information to State of Washington because the Intermediate 20 year payment Individual Whole Life policy was issued in Washington State November 23, 1953. State of Washington Office of Insurance Commissioner, XXXXX- Compliance Analyst Consumer Advocacy wrote to Prudential on May 19, 2016. (I spoke with her on the phone. She agreed they had insufficient evidence and her letter to them requested that they remove the loan and interest or reduce the interest.). Prudential wrote on June 9, 2016 stating a loan of $325 (l have a letter from Prudential when I first questioned this loan, dated Dec. 9, 2015, stating:"the original loan amount is not available"... they did not even know how much the loan was for when we first started communication)was granted against the cash value of the policy on December 13, 1977 And they do not have a copy of the cancelled check. The letter states I was the only one who could authorize the loan and was mailed by Prudential BUT they did not have my correct address! They said they did not keep good records in the 70's. Yet, they have the record two years earlier where I got married, changed my name and updated my Address. Seems like they should have better records for issuing a loan!!!!! All they have submitted is a registration card with a box marked loan and rubber stamp date of Dec. 13, 1977. Which as someone on here as mentioned... could have been recorded on the wrong policy. The letters from Prudential always say: "It appears that a loan was taken..." and "our files indicate....". They have no proof because I did NOT take out a loan. And they have changed some of their information. XXXXX, Senior Analyst, Customer Service at Prudential sent a final reply stating they were unable to honor my request to remove the loan and interest. The loan indebtedness is $2125.03...Dec. 13, 2016 interest of $103.76 will be due. Current Cash surrender value $1733.99 or death benefit $3887.03