Life insurance bills wanting whole year up front

[Leo99]

Originally Posted by wog
Covid rates was just refering to the increase in my rate , insurance companies will not sit idle if their is a crisis that may cause losses.


your rates didn't go up. you'll pay more if you move on but price it out and see.

 

[PandaBear]

I have no problem paying up front financially, but if a company suddenly started pulling this, I'm not going to trust them on claim time, I'm out.

 

[1978elcamino]

Originally Posted by PandaBear
I have no problem paying up front financially, but if a company suddenly started pulling this, I'm not going to trust them on claim time, I'm out.


If the insured dies after the two year incontestability period the insurance company HAS to pay. If they do not, the beneficiary can sue the pants off the insurance company and walk away with more than the face value of the policy. The miss trust comes from the billing being changed unexpectedly. Im sure once their call centers are fullly staffed again after covid the OP can change the billing back to quarterly and hopefully given a reasonable explication about the annual billing for the premiums.