- Report: #741519
Report - Rebuttal - Arbitrate
Complaint Review: American General Life
American General LifeHouston, Texas Houston, Texas United States of America
American General Life AGI, AIG my dad's life insurance was cancelled after 20+years premiums, drafts still taken, insurance denied Houston, Texas
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AGI was my mom and dad's life insurance policy for 20+ years. Payments were near 500 a month. When my mom died in 2007 they said the policy payments were based on her age at 79. She was 82. A deal to subtract the difference in premium payments was implemented on so that only 17,000 was paid out on a 25,000 policy. The premiums were auto pay draft. We found out soon after her death that my dad had lung cancer. Later, we were notified that a loan was taken on my dad's 150,000 policy which would
create a deficiency in the policy if an adjustment was not made. We requested that the drafts be increased so as to not cause a lapse. The auto drafts increased. Problem solved? Not a chance. In 2009, they sent us a letter saying that because of policy deficiency they CANCELLED his policy. When we tried to straighten up the situation, they wanted him to fill out a NEW APPLICATION for review (he was being treated for lung cancer NOW). My dad, now with no insurance, died before we resolved our complaint. AGI is as crooked as crooked a company could be. I think all of us who lost death benefits from this unethical company should FILE a LAWSUIT. I am only NOW recovering from their deaths and wanting justice.
This report was posted on Ripoff Report on 06/16/2011 10:45 AM and is a permanent record located here: http://www.ripoffreport.com/r/American-General-Life/Houston-Texas-/American-General-Life-AGI-AIG-my-dads-life-insurance-was-cancelled-after-20years-premiu-741519. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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