Complaint Review: Wilcac Life Insurance Co - Nashville Tennessee
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- Author Confirmed
- Wilcac Life Insurance Co PO Box 305017 Nashville, Tennessee United States
- Phone: 844-877-6907
- Web:
- Category: Life insurance , life insurance policy
Wilcac Life Insurance Co Formerly Wilco Life Insurance Formerly Conseco Life Lisurance QUADRUPLED THE COST OF POLICY PREMIUMS Nashville Tennessee
*Consumer Comment: Trying to hold on
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We've held an $89,000 life insurance policy since June 1995. Not a million dollars, just 89K to cover the cost of the mortgage should my older husband pass. The premiums were $90 per month. The original policy was with Mass General Life and has changed hands so many times I can't keep up. According to their original printout, at this time, our plan's cash value should be over $30,000. Wilcac has our cash value at $256.13!
In April we were ordered to pay $722.16 or forfeit our insurance.
In July we were ordered to pay $787.26
In September we were ordered to pay $1,053.84
This is in addition to the $90 per month
Now we are ordered to pay $880.60 by 11/9/21 plus $355 NEW PREMIUM
NEW PREMIUM 6/9/22: $388.00
They've lost lawsuits for this "Cost of Insurance" bull crap (when Conseco & I think as Wilco)
I'm filing formal complaints with the Insurance Commissioners in each State. We are retired with a TINY income. We can't afford this. I bet this is what they are counting on and that's criminal!
This report was posted on Ripoff Report on 10/02/2021 08:19 AM and is a permanent record located here: https://www.ripoffreport.com/report/wilcac-life-insurance/nashville-tennessee-formerly-1512423. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 Consumer Comment
Trying to hold on
AUTHOR: Patricia - (United States)
SUBMITTED: Tuesday, December 13, 2022
I had paid my premiun $41.20 for $50.00 for 20 years and had accumulated a nice cash value. Without any notice when the premiun went up the company took all the cash value and paid the premiuns until there was nothing left, then informed me I was going to lose my policy if I didn't come up with over $400.00 to keep it in force plus what they were still drafting monthly. This went on several months until I got a monthly payment amount and changed the draft. Now it's going up again . How is it legal to take your cash value without any notice????
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