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Infolawyer
Infolawyer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 6594
Experience:  Licensed attorney helping individuals and businesses.
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Can an Insurance Company (Conceo Life Ins)just terminate

Customer Question

Can an Insurance Company (Conceo Life Ins)just terminate your insurance policy because all the cash value is gone because they have been taken out part of my premium payments that I was unaware of and I do have a loan on the policy. However, now they want to pay $1002.37 by Dec. 25, 2016. I feel that I was not informed properly about these premiums payments. I have had this policy for 16 years and have never missed any payments or interest payments. They have suck all the money out this Unverisal Life Policy. Help!
Submitted: 23 days ago.
Category: Consumer Protection Law
Expert:  Dwayne B. replied 23 days ago.

Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to assisting you today.

Expert:  Dwayne B. replied 23 days ago.

You mention they want you to pay $1002.37 by 12/25/16. Is that the yearly, monthly, quarterly, etc. premium from this point on to keep the insurance policy in effect or are the going to cancel it no matter what you pay?

What is the insurance policy supposed to pay upon death?

Expert:  Dwayne B. replied 23 days ago.

Also, I may get a call and need to leave suddenly so please don't be upset or think I am ignoring you.

I am about to be traveling again for a while and if I am not online when you respond I will pick up and continue later this evening.