Minnesota Life Insurance Co. AKZO NOBEL INC. which is using the Securian Financial group,Inc. along with the actual insurance carrier who is Minnesota Life Insurance Company Basically these people are trying to get out of paying insurance to retired people who have been retired over the last 5 to 15 years or more by changing the type of policy that the person once had. My father worked at Akzo Nobel Inc. for over 25 years and retired back in 2005 or so. At this time the policy that he had was equivalent to payout 60,000 dollars upon death to his beneficiaries in event of his untimely death. Supposedly this policy could go no lower than half of the original base amount after 5 years after retiring, or 30,000 dollars for the same amount he has paid in over the years and is now paying. Now all of the sudden they send him a letter stating that they are suddenly reducing his and other retired persons policies to only paying out 5,000 dollars in death benefits and ask them to change or update their beneficiary information.  North St. Paul Minnesota

As I said before the two organizations that are responsible for this fiasco are AKZO NOBEL INC. and MINNESOTA LIFE INSURANCE CO. located on Robert Street ,North St. Paul, Minnesota 55101-2098. This company pretty much is trying to rip off retired employees by attempting to recategorize the life insurance that they once had in value of base annual salary policies to a 5,000 dollar only death benefit coverage. This is of course wrong because these people have been paying for a policy coverage that has all along said it would cover their annual salary in event of the employees death and/or no less than half of that amount within 5 years after retiring.You cant just change this after people have been paying you for a larger policy coverage for over 20 years simply because you want to save money and create budget cuts. I and other people are appalled by this and we are seeking legal advice in this matter. We would very much like any information that we could find on how to get these people to do the right thing in this situation considering just how wrong this really is. I have used the analogy before and will reiterate that it is like paying for a steak but then the waitress bringing you over a plate of broccoli and charging you the same amount for it, its bs! Shame on Minnesota Life if they do not fix this problem and shame on AKZO NOBEL INC. for not fighting for their employees rights in this matter as my father has called up at the high point office and got the run around from the HR department about helping to find his original policy paperwork about this.They just acted like they didnt even care one bit about the situation at all!