Term Life Insurance Ending

Eloise Nelson is digging through and examining some of her important papers.She now realizes it’s what she should have done years ago when she first took out a $75,000 life policy.Nelson would have discovered her monthly premiums were scheduled to jump drastically, from $64 to $220, after 20 years.”Well when I got it, I really didn’t understand how it would be or anything,” she said.So seven months ago, it came as a shock when her insurer Primerica started drafting those big $220 payments from her bank account.”I don’t have that kind of money to give nobody,” she said.Realizing she couldn’t afford it, she canceled her policy. Primerica then refunded her last payment but not the full $1,300 they’d taken in higher premiums.Nelson complained to the company, but to no avail. “I got a lot of fast talking and no satisfaction,” she said.Action 9 got in touch with Primerica. It said it sent a letter to Nelson one year ago reminding her of the scheduled premium increase, but did not hear from her.Nelson has only herself to blame for not paying attention to all of her important mail.After Action 9’s contact, Primerica refunded all of her money, $1,320, as a goodwill gesture.She tells others not to repeat her mistake. “Make sure you understand everything before you sign anything.”