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Old 01-23-2009, 08:44 AM
MelodyL's Avatar
MelodyL MelodyL is offline
Wise Elder
 
Join Date: Aug 2006
Posts: 8,292
15 yr Member
MelodyL MelodyL is offline
Wise Elder
MelodyL's Avatar
 
Join Date: Aug 2006
Posts: 8,292
15 yr Member
Default Important question about Life Insurance

We recently got our bill of our life insurance. We pay these premiums two times a year.

Well!!!! they raised our premiums almost 60%

they went from $550 a year to $850 a year.

Now this might not sound like a lot of money to some people but when you are on Social Security and you grow your own food, well, we watch every penny.

Alan said "are they for real, they didn't even notify us that they were raising us, and there is nothing on this bill to indicate that there's a reason that they did this.

They've been in the papers. IT'S A BIG COMPANY.

We are going to call them today.

I want to know what any of you would do. We can' afford this, we don't know who to call. (Alan says he does, but I want to make sure).

Is this legal (that's what I really want to know).

Any help is appreciated.

We were raised when we both turned 60 but we are only 61.

Can they do this?

And if we paid this, what stops them next year from doing the same thing??.

It's appalling that we have paid into this for 15 years and now they do this to us.

The policy expires when we are 75.

And it has no cash value.

I am hesitant to keep giving money to crooks.

Any and all advice is welcome, believe me.

If this were YOU, what exactly would you do?

Thanks, Melody
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