20 Mar, 2018 → by ClaimboUser518461
The 30 year lie that keeps getting worse.
Over 30 years I had a term policy with a lot of dividends in it and the agent convinced me to cancel the policy and take out a $50,000 whole life policy, using the dividends to purchase this policy and that I would NEVER have to pay on this policy again.. that was a lie..and it was illegal for him to do this. Fast forward there was a class action law suit, and I was to receive a paid up policy , NOT. In 2016 the Company start bugging me for $30,000 on a money they were using to pay for my policy. Now they have sent me a 1099 form saying I had income on this money. What it comes down to is a shake down, It's problem that will not go away.