NC Mutual Life Insurance Company

NC Mutual Life Ins has refused to provide documentation of said loan of $33.50 supposedly taken 28 yrs ago against policy, claiming $158.00 now owed.On Feb 10,2014 we received a "Loan and Interest Statement" on letterhead from [redacted] Ins Co [redacted] Serviced by: North Carolina Mutual Life Insurance Co, (NCM), requesting payment of $158.00 for a loan balance. We ([redacted] & [redacted]), called North Carolina Mutual Life Insurance Co to inquire about this request for payment and the response from the Representative, [redacted] was: there was a loan taken out on the policy in 1986 in the amount of $33.50, with accrued interest you now owe $158.00. My response back was "we have never taken out a loan against any insurance policy and why after 28 years are we receiving a notice to pay back a loan with 28 years of said interest." [redacted] then stated, she wanted to do more research and get back to us but did not. We called [redacted] back on Feb 24, 2014, but spoke with a Rep named [redacted]. [redacted] told me [redacted] was on another call. We asked if maybe she could explain this (loan) situation for us. After giving her the policy number in question and asking if there was a loan taken against it she,([redacted]) stated yes for $ 33.50 back in 1986. We repeated to her that there was never a loan taken out and please send the loan documentation verifying that one had been. We told [redacted] that we hadn't receive any correspondence referencing a loan on this insurance policy. [redacted] then said we needed to speak with [redacted] and transferred the call to her [redacted] We explained to [redacted] that we would like proof of a loan and she stated that North Carolina Mutual only had an electronic copy that they received from [redacted] Insurance Co and that she could not supply us with a copy. [redacted] then stated that they had attempted to send us a letter in May of 2013, but it was returned. When asked to what address was the letter sent, she gave an incorrect address. When asked why had we received other correspondence from (North Carolina Mutual) and [redacted] Insurance) i.e. premium receipts, letters about policies from as far back as 2002 and not one statement referenced a loan, [redacted] (Rep w/North Carolina Mutual) said, "we needed to contact [redacted] T [redacted] at (XXX) XXX-XXXX, however, their office closed at 12:00pm, because she [redacted] did not know how they [redacted] handled things and that [redacted] might be able to give me additional information." We placed a call to [redacted] Insurance Cn 3/7/14 at 9:30 am CST and spoke with [redacted]. The situation was explained and [redacted] was not able to answer the question of: " how 28 years could pass and we not receive any correspondence about a loan taken against a policy for $33.50?" After being placed on hold while she spoke with her supervisor about it, [redacted] comes back on the phone and states that she can see where a check was cut for $33.40 and mailed to [redacted]. We questioned why the cents amount changed from .50 cents to .40 cents, [redacted] states: "that is where the discrepancy was." Our reply: "the discrepancy is with [redacted] Ins Co and North Carolina Mutual Life Insurance Co not being able to supply us with the proper documentation of proof that a loan was taken against the stated insurance policy 28 years ago. Also, [redacted] has never lived at the said address where a check for $33.40 was supposedly mailed.[redacted] was informed that we have hand written receipts signed and mailed by her to our correct address from 2004. Then, [redacted] said she couldn't help and stated: "We should speak with North Carolina Mutual because they (NCM), handle everything now." Our attempt for a resolution with [redacted] at [redacted] Insurance Co ended at 9:56 am. We are extremely dissatisfied w/North Carolina Mutual Life Ins Co [redacted] Ins Co for failure to provide documentation but attempting to collect on a 28 yr old said loan of $33.50 with said accrued interest to total $158.00. This type of business practice is FRAUDULENTDesired SettlementWe want NORTH CAROLINA MUTUAL LIFE INSURANCE to provide documentation for a loan supposedly taken against the stated insurance policy 28 years ago in the amount of $33.50 and is now $158.00 due to accrued interest.We want documentation of the individual who authorized a loan to be taken against the said insurance policy 28 years ago.We want a written explanation as well as a phone call to explain why premiums were paid and receipts received but not one notice of a loan or past due notice in the 28 year history of this policy. We want all policies cancelled immediately.Business Response North Carolina Mutual Life Insurance Company considers it a privilege to serve its policyowners. The company will review the complainant's concern and will respond to the complainant in writing. It is our desire to resolve this manner to the policyowner's complete understanding.