My name is***** took out a $150,000 life insurance policy
with Conseco Life Insurance Company on 09/28/2002. My premiums
were $149.75 a month, which I have been paying for the pass 14 years ($26,471.81). I was told that premiums increased yearly and I need to make a minimum payment of $1,118.65 by 10/29/2016 or the policy will terminate. I paid the minimum payment and requested three quotes of $125,000, $100,000, and $75,000 to date I have not received any response from Conseco. My question is do I have any options? Thank you for your help.
JA: What state are you in? It matters because laws vary by location. Has anything been filed or reported?
Customer: I live in Georgia, I have not filed or reported anything.
JA: Anything else you want the lawyer to know before I connect you?
Customer: I also made a payment of $1,122.47 on 08/01/2016. I don't want this policy to terminate but I can't afford monthly premiums of $500.00 plus per month. I am 77 years old and have been retired for twenty years. It appears to me that Conseco is not willing to offer any help in reducing the premium. And they continue to deduct $149.75 from my account monthly.