Just called to find out why my policy purchased back in 1986 was being cancelled and my monthly payment has been made automatically every month. Was told by George that I haven't been paying the increased payment so they took money out of my cash value to make up the difference.
My policy was paid up in 2000 and I continued to make the $24.35 payment every month for a death benefit of $29,558 through Aetna Life Insurance, later sold to ING and now to Protective Life Insurance. At no time did I receive information that my premium was increased, just a letter saying that I may want to contact them because of changes in insurance needs. They never said my premium wasn't enough. All the cash surrender I had built up is gone.
I have a guaranteed Interest rate of 4.50%.
George tells me if I don't begin paying the increased rate of what ever it may be, he didn't tell me, I would forfeit everything I have paid since 1986. I told him I was contacting the AG regarding this.
Reviewer is in unhappy mood. This person stated that there is a room for improvement of being robbed. Please immediately contact the author of this review to discuss "life insurance" of protective life corporation life insurance. Protective Life Corporation needs to read this review and look into the issue (if any) according to poster's claims.