Sunday 3rd of December 2017 10:17:55 PM
My wife and I each bought $100,000 whole life policies in 1990. We were told false interest earnings and were told that the policies would pay for themselves (abbreviate) in 9 years. 9 years pass and we were still paying and would have to pay for at least 13 years. Then, Prudential loses their huge class action lawsuit. As part of the class, we opt for the ADR individual appeal. Prudential agrees to "abbreviate" the policies. Yea, right. The following year, we each receive a bill for the policies for $40, next year, $60, etc. My policy got up to $150/year and they claim this is what I agreed to. Never. I'm so angry that I cash in my policy but leave the wife's in effect. Finally, in 2010 or so, my wife's policy requires no payment from us. I'm convinced that Prudential, who admitted they were wrong, mind you, continued charging "term life" prices just to anger people to the point of cashing in their policies, even though they lost the lawsuit. Now, at this age, even $150/year for a $100,000 is a steal but at the time, when they said they would abbreviate the policy, annual increases were outrageous. Hate this company forever. I like the box below about the attorney! Can't afford one, but would LOVE to hurt Prudential.