john han**** life insurance screwing my father

[realschool]

life insurance screwing my father

What is the name of your state? florida

my father had a life insurance policy with john h until last week. he has been paying
them $65.00 a month for the last 40 years. they sent him a notice saying his rate increased to 200. a month. So, he cancelled the policy. They sent out 2 agents to his house trying to strong arm him, and get him to sign a waiver stating that he would only get back " a few thousand". Is this a common practice? he dumped in over $31,000. into their policy. please let me know. thanks

 

[Dandy Don]

He should file a complaint with the Florida Insurance Commissioner--do a GOOGLE search to find his website where you can file a complaint by letter or e-mail.

DANDY DON IN OKLAHOMA ([email protected])

 

[Betty]

How old is your dad currently - I understand pol. was taken out 40 yrs. ago. What type of policy (plan of ins.) is this (ie Whole Life, Universal Life, Variable Life, Endowment - doesn't seem to be a term pol.) & what is amt. of insurance? What does the face page of the policy say as to the plan & amt. of insurance? The info in your post does sound rather unusual & seems not quite right. What reason did the agents give for the increase in premium & only getting back a few thousand in cash value on cancellation of a pol. he paid in $31,000+ over 40 years? It's kind of hard to comment on the company's action without having the actual policy to read it provisions & w/o knowing the amt. & plan of ins. I assume your dad did not take out a pol. loan on the cash value. A complaint to the Ins. Commissioner of your state, as suggested by the other poster, may be what you will have to do & let them check out if the co. is doing something wrong.