Everyone wants to make the most of their money to protect their families and prepare for retirement. To do so, many rely on permanent life insurance policies, which are often sold as a combination solution for death benefit protection and investment growth.
Some life insurance companies have been overcharging policy owners for the cost of insurance and expenses. As a result, money that should be building up for the policy owner’s benefit is going instead to the insurance company’s coffers. Worse, for many policy owners, overcharges or rate increases have made policies simply unaffordable – exactly when they are needed the most.
This puts policy owners in a tough spot:
- Do they continue to pay overcharges and premiums just to maintain their life insurance?
- Do they give up their policies after they’ve paid so much into them?
- Can they still get life insurance?
We believe it’s wrong for companies that market financial security to take advantage of consumers’ hard-earned savings, and we’re holding them accountable.