After over 60 years with these people they're trying to cancel my mother's life insurance. She's 88 and in relatively good health.
Today her premium notice came in and it had tripled! A call to them got nowhere fast. Finally she was told to pay the amount by check today, allow them access to her bank account for monthly withdrawals or they'll cancel in 2 business days. She's on Social Security and it isn't much.
The rest of her family doesn't care. I'm broke now after helping her for years. If she passed away tomorrow I'm sure IOF wouldn't pay without a fight. This is the micromanaging mentality of the insurance industry today.
Money for CEO perks and golden parachutes, construction of expensive office complexes and the purchasing and building of stadiums for sports teams, but no money for policy holders. It's a legalized pyramid scam and we're under the bottom of it!
Product or Service Mentioned: Foresters Financial Life Insurance.
Reason of review: Problems with payment.