Update by user May 02
No, this matter has not been resolved. This is the type of business that is conducted on Wall Street with big Corporations.
I have reported them to the Better Business Bureau and I will continue to expose the antics of how they step on little people to can profit.
I've paid lots of monies into the whole life policy to be left with NOTHING. This hurts!
Original review posted by user Apr 02
I purchased a whole life policy with Med-Life back in the 80's. I paid monthly faithfully. In 1999 I borrowed $1200 from monies I had in my cash build up and was told specifically that if not paid back it will only decrease my face value of the policy by $1200.00. Well I just found out that every penny I have contributed to this policy has been TAKEN BY MET-Life in $11,200 in interest.
I was taken advantage of by and misrepresented with wrong information. Every dime I placed into a a life policy that offers cash value has been wiped out by interest.
This is wrong on how they lie and take advantage of customers. I could have used that money on myself to pay student loans, and now because they have taken the 11,200 in interest, I am accessed taxes on monies that were never give to me in the amount of $1911.00.
I am angry because my hard earned monies were taken leaving me to cancel a policy that I have paid so much into for someone else to benefits off my hard earned money. THIS IS WRONG. THIS IS NOT A GOOD BUSINESS PRACTICE, WHEN CUSTOMERS/CONSUMERS ARE TREATED LIKE THIS. GREED!!!
Product or Service Mentioned: Metlife Universal Life Insurance.
Reason of review: My cash value was consumed by GREED and Corporate Benefit through lies and deceit!.
Monetary Loss: $11200.
Preferred solution: Full refund.
I didn't like: Not trustworthy.