Posted by Stephen Newell on March 13, 2012 at 05:09:37 from (66.53.83.100):
A number of years ago my parents purchased a life insurance policy for me. The guy that sold the policy told them it was paid up and I would never have to pay on it. What he didn't say was he thought the amount they deposited the interest would pay the premiums and since the economy has gone south and interest rates are down the premiums has eaten up their initial deposit. I understand that part. What I don't understand is how they can increase the premiums about a penny every month. This has gone on so long the premiums are about $5.00 a month more than when it started. Now rather than let the policy go away I sent them a deposit a little more that what a years premiums to keep the policy in effect and they charged me a $18.00 service fee for the transaction. Is this crooked or what.
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