Fidelity Security Life Insurance Co/ Pacific Educators Complaint - Buyer Beware - Life Insurance
ALL TOWNS AND CITIES, CALIFORNIA -- As an employee of the public education system in 1980 I was offered a family life insurance policy through Pacific Educators Group (only for public educators) underwritten by Fidelity Security Life Insurance Co. This policy was very cheap in the beginning as I was only 28 years old. It included insurance on my children and my husband. It started at 150K for both of us and 15K on each of my children. Although I have paid on this over the past 35 years, while the payments have continued to go up up up, the policy has retracted and reduced itself to almost no value at this time. By the time I am 70, my 150K policy will only be worth 10K, just enough to burry me with. What a rip off for 40 to 50 years of payments.
I was shocked that no one ever sent updates or asked questions over these years. On occasion I have called to get different answers from PEG, which I'm now told was incorrect answers. This is not a good investment or insurance for "PUBLIC EMPLYEES." BUYER BEWARE!!!! You may end up with nothing but a lot of bills in the end.