Can anyone answer this question? Please help if you can.

Question

I received a call about two months ago from my Life and Renter's Insurance agency. I was told that my account wasn't in good standings. So, I ask what they were talking about due to the fact that my monthly payments have been coming out of my account on line every month. So, they told me during this conversation they would investigate the matter and get back with me. They did and when I was called back I was told that everything was okay. Now I just received another call yesterday saying that my life insurance wasn't in good standing and my renter's insurance was. So, of course I ask what they were talking about again and told them this is the second time that you all have called me with this. I was told that I owe $24 which could be taking out of my insurance dividends to pay and I wouldn't have to come out of my pocket. But the kicker was when I ask how did I owe $24 when my payments have been coming out for years through the automatic service and now everytime I turn around I am receiving a call stating that my account isn't in good standing. I was told that this was due to so type of mishap on their part not mines from 2004. I ask were they joking!!! I don't feel as thou I should have to pay the $24. Because I know that if they payment wasn't made for one my account would have had an extra $24 in it back in 2004 and I would have notice this!!! So I would like to know if anyone has any idea of whether I can make them chark up the $24 and call it even. I have been a customer with this company for more then four years and I am really upset about this and I am sick of them calling me. One time the account is okay and then the next it isn't!!!! Any helpful suggests will be greatly appreiciated.

Thanks

Answer 1

This is a tricky question to answer.   What kind of life insurance policy do you have?  

#1 If it is Universal Life insurance policy it could be running out of money, meaning your not paying enough.   You should speak to your insurance company or agent for an explanation of this because it is complicated to explai why this is, but this is a possibility.

#2.  Did you take a loan against the policy?   That may be why you owe more money.

If you do not get answers, then call your state Insurance Commissioner and change companies.  The same company should carry these policies and your auto insurance all at the same company for the most discounts available.