• Report: #1154010

Complaint Review: Principal Life Insurance Company

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  • Submitted: Wed, June 11, 2014
  • Updated: Thu, June 12, 2014

  • Reported By: Ted — Horseshoe Bay Texas
Principal Life Insurance Company
Nationwide USA

Principal Life Insurance Company RIP-OFF – PRINCIPAL LIFE INSURANCE! If you own or are thinking about buying a Universal/Flexible life insurance policy from Principal Life Insurance (Des Moines, IA), READ THIS! The policy is a RIP-OFF unless you die before your life expectancy date. If you live past this date (as I have), you will receive an ominous, demanding letter saying that you are in a grace period and unless you pay big bucks, your policy will be cancelled. You could receive several options on continuing your policy but it may be at least 6 times your present premiums. ALSO, YOU COULD BE PAYING MORE (IN TOTAL) THAN THE TOTAL DEATH BENEFIT. If you already have a policy like this, you may want to consider canceling it! Des Moines , Iowa Nationwide

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 RIP-OFF – PRINCIPAL LIFE INSURANCE! If you own or are thinking about buying a Universal/Flexible life insurance policy from Principal Life Insurance (Des Moines, IA), READ THIS! The policy is a RIP-OFF unless you die before your life expectancy date. If you live past this date (as I have), you will receive an ominous, demanding letter saying that you are in a grace period and unless you pay big bucks, your policy will be cancelled. You could receive several options on continuing your policy but it may be at least 6 times your present premiums. ALSO, YOU COULD BE PAYING MORE (IN TOTAL) THAN THE TOTAL DEATH BENEFIT. If you already have a policy like this, you may want to consider canceling it! DO NOT DO BUSINESS WITH PRINCIPAL LIFE INSURANCE COMPANY. I have been paying premiums faithfully, on time for 25 years and I am being punished for living beyond the normal life expectancy. If I had it to do over, I would not have bought this policy.


This report was posted on Ripoff Report on 06/11/2014 02:46 PM and is a permanent record located here: http://www.ripoffreport.com/r/Principal-Life-Insurance-Company/nationwide/Principal-Life-Insurance-Company-RIP-OFF-PRINCIPAL-LIFE-INSURANCE-If-you-own-or-are-1154010. 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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