State of New York Insurance Dept Complaint - Premature Closing of Insurance Complaint
ALBANY, NEW YORK -- August 3, 2010
As we have been having some serious problems with our life insurance policies, we requested to meet with Penn Mutual executives in person in an attempt to clear up the errors. Our policies have become a mess, not what we purchased, over-insuring us because PennMutual kept increasing the insured amount, at higher premiums, despite our objections. Instead, we are left with a lapsed policy, after 15 years of shelling out top dollars. Separately, the 2 smaller policies, carried a disability waiver, which was not honored, despite my husbands disability status since 1998. My complaint with NYS Insurance was closed July 14, ONLY 6 days after my July 8 email & phone conversation to them informing them that I would be making copies to send them. NYS closed this complaint ONLY 3 business days (INCLUDING 2 weekend days after my July 8 correspondence with them, despite my being assured that they were not closing it without receiving my copies. There was an attempt to close my complaint in a “missing” May 12 letter. (We gained knowledge of this May 12 letter from NYS employee). Our request to meet with Penn Mutual Life Insurance Company still stands as we need to fix this. Do I have to place an ad in the paper? I don't think this request is unreasonable, since there is numerous paper trails and lots of confusion involved and would be easier in person. My husband has a heart condition and I am legally blind, so copying & writing is not without its difficulties. Someone, please help. We have been fighting this for several years now. We have proof of how agent was handling policies and how Penn Mutual suddenly changed proceedures resulting in lapse. REALLY BAD BUSINESS, REALLY BAD CUSTOMER SERVICE, AND REALLY BAD "REGULATIONS" FROM INS. DEPT?
We have been had, not only by Penn Mutual.