Rate and Review: Conseco Life Insurance Company
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Conseco Life Insurance Company Reviews: 10 Reviews
Michelle Freeman
Thieves and liars, they are robbing me of the value of life insurance that I have has been paid on for 14 years. At the time of purchasing the insurance we were told it was whole life and that the premiums would stay the same. Conseco life is stating that this is no longer the case and have taken the accumulated value of my policy deducting charges that should not be there. Screwing me out of 1300.00 they are not a reputable company nor are their customer service is poor and the agent that sold me this product is a liar!!!!
Mike Kuenzli
Increase in premium life insurance from 50 to 200+ per month after 18 years. But for 29000 they'll keep me as customer. Their ratings are dismal (b- range). There was no intelligible warning from them that I was about to get shafted. Actually 0 stars.
Garey
Insured for over 25 years, and suddenly my rate triples without warning. 5 phone calls got NO help, agent no longer with company. They CANCEL my policy and the contact #is disconected. To top it all, they are still withdrawing payments from my bank account.
Gary Reichle
What it seems to boil down to is that Conseco low balls one in to insurance at a younger age and once you get in to the senior category they just up it to whatever level they like. Mine went from $37 to $164 per month. They know that you can't get insurance any cheaper someplace else. Once they have $10-$20,000 from you, you can cancel and take a hike for all they care. Time for all of us to contact our state insurance commission.
Robert Berry
After having my policy for over 18 years for a monthly cost of $77.00 I was just notified that my premium would go up over 300% starting in Nov. 2011 I am now retired and living on a fixed income and can not afford this at all. I think this is BS and will contact whoever it takes to make a formal complaint.At the time I bought this policy I was told that the cost would remain the same.
Jean Oberdick
I waited for over 1-hour to speak to a Conseco Rep who confirmed the information I received in the mail informing me that if I want to keep the death benefit at its current value my monthly premium will increase from $137.40 p/m to $532.42 p/m. I have had this policy for 15 years. If the increased premium is not paid the death benefit and surrender value of the policy will drop to zero in 5 years.
Kent Vivrette
I purchased a universal life policy from Conseco 19 yrs. ago at age 50. My premium has been $92.00 per mo. Today I received information from Conseco that based on updated insurance cost my premium will be $531.08 per mo. That's over 500% increase. I'm going to call the state insurance commissioner and file a complaint. This is outrageous and I cannot afford to pay over $6,000 in premiums per annum. This death benefit is for my daughter and grandsons.
JOAN CARLINO
TWO OUT OF FIVE
Harriet H. Coker
As low as I can rate it!!! My cancer premium increased from $26 per month to $76.69 in ONE YEAR! And, a representative told teachers at my school that the company has never raised premiums!!! Then, what has happened to mine??? I'll be dropping it shortly and telling everyone I know that your company is guilty of false advertising.
Kris P.
My wife and signed up with Conseco for life insurance. They set up automatic deductions from our checking account for payments... but they set the date to be after payment is due. Then, they kept sending us letters that we were late in payment (remember, this is automatic deduction). We told them about the problem and they said they would fix it. They never did. Then, they threatened to terminate the accounts due to the late payments. So, we just canceled. But, they still kept automatically deducting. After we threatened to take legal action, they refunded us and sent a representative to deliver the check and a bouquet of flowers.
Usually, when a company upsets me, I just make sure that I never give them business again. In this case, I really felt the need to share my experience as a warning to others. For the sake of everyone else, I hope my experience is the exception. I can't stand Conseco.
