- Report: #89207
Report - Rebuttal - Arbitrate
Complaint Review: JOHN HANCOCK INSURANCE
JOHN HANCOCK INSURANCEPOST OFFICE BOX 111 BOSTON, Massachusetts U.S.A.
JOHN HANCOCK INSURANCE ripoff SENT ME A CHECK FOR $193.00 AND CANCELLED MY PAID UP LIFE POLICY AND TURNED THAT POLICY INTO A WHOLE LIFE POLICY THAT WILL NEVER BE PAID UP BOSTON Massachusetts
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The only reason given, in these conversations, was that this was excess money that I was entitled to from the purchase of this other company.
SINCE I HAVE REACHED RETIREMENT AGE 65, I HAVE BEEN REVIEWING MY POLICIES. THE ORIGINAL POLICY WAS TO BE PAID UP AT AGE 60. BUT I HAVE STILL BEEN PAYING FOR THIS POLICY EACH MONTH SINCE AGE 60.
So what these folks AT JOHN HANCOCK sneakily did was MAKE MY POLICY A WHOLE LIFE POLICY THAT I WILL PAY UNTIL I DIE OR LOSE THE POLICY. I did not nor would I ever buy a whole life policy. This means THEY GIVE ME $193.00 and now I WILL HAVE TO PAY $25.OO PER MONTH $300.00 PER YEAR for the rest of my life. This is for a policy that I purchased when I was 25 years of age and have paid in $300.00 every year for 40 years.
I have already paid in $12,000 on a $10,000 policy. According to JOHN HANCOCK INSURANCE the policy has a current value of $8,000.
THIS IS ABSOLUTELY THE BIGGEST "RIP OFF" I HAVE EVER ENCOUNTERED! Jesse was a sweetheart as compared to John Hancock Insurance!
This report was posted on Ripoff Report on 04/27/2004 01:45 PM and is a permanent record located here: http://www.ripoffreport.com/r/JOHN-HANCOCK-INSURANCE/BOSTON-Massachusetts-02117/JOHN-HANCOCK-INSURANCE-ripoff-SENT-ME-A-CHECK-FOR-19300-AND-CANCELLED-MY-PAID-UP-LIFE-PO-89207. 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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