This insured has been a policyholder with Boston Mutual Life since Sept She purchased life insurance policies, on herself and on her childrenIn Septshe took additional policies, herself and family members in March she added & in April 2013, moreShe cash surrender one in Dec2009, leaving activeHer salary deductions were faithfully sent in via her employerHowever, every new policy or cancellation required a change in her salary deduction amount, so on a few occasions, there was a shortage due to a late increase, but not enough to cause a policy to lapse.In the midst of this, her Salary Deductions (SD) came to us ondifferent company bills, which the Policyholder explained was a result of her taking a 2nd position, and has SD's taken out of that pay as well Although we did sometimes receive company bills in the same month, the combined total was not a double paymentAll in all, she was pretty much current on all policies, until she was out on Disability in In all, months premiums were missed, totaling $She was sent Missed Deduction letters on occasions, detailing the shortagesHer SD's resumed on the company's Janbill, but the premiums were significantly behindThe older policies were able to stay in force as they took Automatic Premium Loans (APL); however, the most recent policies, had yet to earn cash value, so they could not APL One lapsed effective Dec2015, the other for May The minimum to bring all her policies current was $ She recently sent in $160.00, however, to reinstate the two lapsed plans would require
RE: Boston Mutual Life Insurance CompanyRevDex.com Complaint Number [redacted] Dear Ms., ***:This is in response to your recent correspondence to the RevDex.com which was received in our Home Office on August 31, 2015. It was in regard to the life insurance policies you... purchased on your 3 children, effective August 1, 1999, I will be sending a complete copy of my response to the RevDex.com as well.I would first like to apologize for any frustration you encountered when you contacted our Company in an effort to receive information on those policies. It is my understanding that you recall the insurance policies as being a “Grown-Up” plan that would mature 18 to 21 years from the date of issue. Boston Mutual never offered such a plan through our Worksite Sales Division. Your employer, [redacted] Insurance Agency, was also the Agency that offered the Boston Mutual coverage to you at your worksite. I did note that you had written ‘ [redacted] ***’ in question 36 on the application, then crossed it out, Perhaps it is that company that offered such a plan as you described.After reviewing your file, Ms, ***, I see the type of plan you purchased is a Whole Life Insurance Policy Paid-Up at Age 95, These policies would provide the children with life insurance coverage until age 95 as long as the premiums due continue to be paid. This information is stated on the Policy Specification Page of each policy, I am enclosing duplicate copies of each policy for your reference. At the back of each policy is a copy of the application you signed which states (in part): “On juvenile policies, ownership is automatically transferred to the Insured when he or she reaches the age of majority, unless otherwise provided in the policy”. As your children were all under age 16 years, they were considered to be a juvenile. Since their 18th birthday, each became the owner of their policy. You are correct; the policies do earn cash value over the years. This cash value is the amount that would be payable if the owner chose, at any point, to cancel the policy, The accumulated cash values for the first 20 anniversaries of the policy are shown on the Table of Values page in the policy. At the Insured’s age 95, the cash value will equal the face amount. At that time, if the insured is still alive, the policy matures for the full face value of the policy, and a check sent to the Insured, I trust that the information I have provided you will help alleviate any confusion regarding the coverage purchased. Should you have any additional questions, please feel free to contact me directly at 1-800- [redacted] ***.Sincerely, [redacted] Consumer Relations [redacted] ***Enclosures
I have included my two previous letters to our Policyholder, as well as supporting documentation of their loan request, two were initiated via a telephone call & one by a Loan Request Form, completed by the Insured/Owner. For all 3, a copy of the front and back of the endorsed checks
were included. I had created and sent a spreadsheet of all loan transactions since the initial Policy Loan was taken. There are items which are made up of Direct Policy Loan checks, loan payments, dates and amounts, and descriptions of each transaction. I am providing the Revdex.com only the lines that relate to the Loans taken by the Insured, for your review. I trust you will find the information clear and complete. I may be reached directly at ***. Thank you
RE: Boston Mutual Life Insurance CompanyRevdex.com Complaint Number [redacted]Dear Ms., [redacted]:This is in response to your recent correspondence to the Revdex.com which was received in our Home Office on August 31, 2015. It was in regard to the life insurance policies you...
purchased on your 3 children, effective August 1, 1999, I will be sending a complete copy of my response to the Revdex.com as well.I would first like to apologize for any frustration you encountered when you contacted our Company in an effort to receive information on those policies. It is my understanding that you recall the insurance policies as being a “Grown-Up” plan that would mature 18 to 21 years from the date of issue. Boston Mutual never offered such a plan through our Worksite Sales Division. Your employer, [redacted] [redacted] Insurance Agency, was also the Agency that offered the Boston Mutual coverage to you at your worksite. I did note that you had written ‘[redacted]’ in question 36 on the application, then crossed it out, Perhaps it is that company that offered such a plan as you described.After reviewing your file, Ms, [redacted], I see the type of plan you purchased is a Whole Life Insurance Policy Paid-Up at Age 95, These policies would provide the children with life insurance coverage until age 95 as long as the premiums due continue to be paid. This information is stated on the Policy Specification Page of each policy, I am enclosing duplicate copies of each policy for your reference. At the back of each policy is a copy of the application you signed which states (in part): “On juvenile policies, ownership is automatically transferred to the Insured when he or she reaches the age of majority, unless otherwise provided in the policy”. As your children were all under age 16 years, they were considered to be a juvenile. Since their 18th birthday, each became the owner of their policy. You are correct; the policies do earn cash value over the years. This cash value is the amount that would be payable if the owner chose, at any point, to cancel the policy, The accumulated cash values for the first 20 anniversaries of the policy are shown on the Table of Values page in the policy. At the Insured’s age 95, the cash value will equal the face amount. At that time, if the insured is still alive, the policy matures for the full face value of the policy, and a check sent to the Insured, I trust that the information I have provided you will help alleviate any confusion regarding the coverage purchased. Should you have any additional questions, please feel free to contact me directly at 1-800-[redacted].Sincerely,[redacted] Consumer Relations [redacted]Enclosures
This insured has been a policyholder with Boston Mutual Life since Sept 2005. She purchased 3 life insurance policies, 1 on herself and 2 on her children. In Sept. 2006 she took 3 additional policies, herself and 2 family members in March 2009 she added 1 & in April 2013, 2...
more. She cash surrender one in Dec. 2009, leaving 7 active. Her salary deductions were faithfully sent in via her employer. However, every new policy or cancellation required a change in her salary deduction amount, so on a few occasions, there was a shortage due to a late increase, but not enough to cause a policy to lapse.In the midst of this, her Salary Deductions (SD) came to us on2 different company bills, which the Policyholder explained was a result of her taking a 2nd position, and has SD's taken out of that pay as well. Although we did sometimes receive 2 company bills in the same month, the combined total was not a double payment. All in all, she was pretty much current on all 7 policies, until she was out on Disability in 2015. In all, 4 months premiums were missed, totaling $304. She was sent Missed Deduction letters on 4 occasions, detailing the shortages. Her SD's resumed on the company's Jan. 2016 bill, but the premiums were significantly behind. The older policies were able to stay in force as they took Automatic Premium Loans (APL); however, the 2 most recent policies, had yet to earn cash value, so they could not APL. One lapsed effective Dec. 2015, the other for May 2016. The minimum to bring all her policies current was $466. She recently sent in $160.00, however, to reinstate the two lapsed plans would require
This insured has been a policyholder with Boston Mutual Life since Sept She purchased life insurance policies, on herself and on her childrenIn Septshe took additional policies, herself and family members in March she added & in April 2013, moreShe cash surrender one in Dec2009, leaving activeHer salary deductions were faithfully sent in via her employerHowever, every new policy or cancellation required a change in her salary deduction amount, so on a few occasions, there was a shortage due to a late increase, but not enough to cause a policy to lapse.In the midst of this, her Salary Deductions (SD) came to us ondifferent company bills, which the Policyholder explained was a result of her taking a 2nd position, and has SD's taken out of that pay as well Although we did sometimes receive company bills in the same month, the combined total was not a double paymentAll in all, she was pretty much current on all policies, until she was out on Disability in In all, months premiums were missed, totaling $She was sent Missed Deduction letters on occasions, detailing the shortagesHer SD's resumed on the company's Janbill, but the premiums were significantly behindThe older policies were able to stay in force as they took Automatic Premium Loans (APL); however, the most recent policies, had yet to earn cash value, so they could not APL One lapsed effective Dec2015, the other for May The minimum to bring all her policies current was $ She recently sent in $160.00, however, to reinstate the two lapsed plans would require
RE: Boston Mutual Life Insurance CompanyRevDex.com Complaint Number [redacted] Dear Ms., ***:This is in response to your recent correspondence to the RevDex.com which was received in our Home Office on August 31, 2015. It was in regard to the life insurance policies you... purchased on your 3 children, effective August 1, 1999, I will be sending a complete copy of my response to the RevDex.com as well.I would first like to apologize for any frustration you encountered when you contacted our Company in an effort to receive information on those policies. It is my understanding that you recall the insurance policies as being a “Grown-Up” plan that would mature 18 to 21 years from the date of issue. Boston Mutual never offered such a plan through our Worksite Sales Division. Your employer, [redacted] Insurance Agency, was also the Agency that offered the Boston Mutual coverage to you at your worksite. I did note that you had written ‘ [redacted] ***’ in question 36 on the application, then crossed it out, Perhaps it is that company that offered such a plan as you described.After reviewing your file, Ms, ***, I see the type of plan you purchased is a Whole Life Insurance Policy Paid-Up at Age 95, These policies would provide the children with life insurance coverage until age 95 as long as the premiums due continue to be paid. This information is stated on the Policy Specification Page of each policy, I am enclosing duplicate copies of each policy for your reference. At the back of each policy is a copy of the application you signed which states (in part): “On juvenile policies, ownership is automatically transferred to the Insured when he or she reaches the age of majority, unless otherwise provided in the policy”. As your children were all under age 16 years, they were considered to be a juvenile. Since their 18th birthday, each became the owner of their policy. You are correct; the policies do earn cash value over the years. This cash value is the amount that would be payable if the owner chose, at any point, to cancel the policy, The accumulated cash values for the first 20 anniversaries of the policy are shown on the Table of Values page in the policy. At the Insured’s age 95, the cash value will equal the face amount. At that time, if the insured is still alive, the policy matures for the full face value of the policy, and a check sent to the Insured, I trust that the information I have provided you will help alleviate any confusion regarding the coverage purchased. Should you have any additional questions, please feel free to contact me directly at 1-800- [redacted] ***.Sincerely, [redacted] Consumer Relations [redacted] ***Enclosures
I have included my two previous letters to our Policyholder, as well as supporting documentation of their loan request, two were initiated via a telephone call & one by a Loan Request Form, completed by the Insured/Owner. For all 3, a copy of the front and back of the endorsed checks
were included. I had created and sent a spreadsheet of all loan transactions since the initial Policy Loan was taken. There are items which are made up of Direct Policy Loan checks, loan payments, dates and amounts, and descriptions of each transaction. I am providing the Revdex.com only the lines that relate to the Loans taken by the Insured, for your review. I trust you will find the information clear and complete. I may be reached directly at ***. Thank you
RE: Boston Mutual Life Insurance CompanyRevdex.com Complaint Number [redacted]Dear Ms., [redacted]:This is in response to your recent correspondence to the Revdex.com which was received in our Home Office on August 31, 2015. It was in regard to the life insurance policies you...
purchased on your 3 children, effective August 1, 1999, I will be sending a complete copy of my response to the Revdex.com as well.I would first like to apologize for any frustration you encountered when you contacted our Company in an effort to receive information on those policies. It is my understanding that you recall the insurance policies as being a “Grown-Up” plan that would mature 18 to 21 years from the date of issue. Boston Mutual never offered such a plan through our Worksite Sales Division. Your employer, [redacted] [redacted] Insurance Agency, was also the Agency that offered the Boston Mutual coverage to you at your worksite. I did note that you had written ‘[redacted]’ in question 36 on the application, then crossed it out, Perhaps it is that company that offered such a plan as you described.After reviewing your file, Ms, [redacted], I see the type of plan you purchased is a Whole Life Insurance Policy Paid-Up at Age 95, These policies would provide the children with life insurance coverage until age 95 as long as the premiums due continue to be paid. This information is stated on the Policy Specification Page of each policy, I am enclosing duplicate copies of each policy for your reference. At the back of each policy is a copy of the application you signed which states (in part): “On juvenile policies, ownership is automatically transferred to the Insured when he or she reaches the age of majority, unless otherwise provided in the policy”. As your children were all under age 16 years, they were considered to be a juvenile. Since their 18th birthday, each became the owner of their policy. You are correct; the policies do earn cash value over the years. This cash value is the amount that would be payable if the owner chose, at any point, to cancel the policy, The accumulated cash values for the first 20 anniversaries of the policy are shown on the Table of Values page in the policy. At the Insured’s age 95, the cash value will equal the face amount. At that time, if the insured is still alive, the policy matures for the full face value of the policy, and a check sent to the Insured, I trust that the information I have provided you will help alleviate any confusion regarding the coverage purchased. Should you have any additional questions, please feel free to contact me directly at 1-800-[redacted].Sincerely,[redacted] Consumer Relations [redacted]Enclosures
This insured has been a policyholder with Boston Mutual Life since Sept 2005. She purchased 3 life insurance policies, 1 on herself and 2 on her children. In Sept. 2006 she took 3 additional policies, herself and 2 family members in March 2009 she added 1 & in April 2013, 2...
more. She cash surrender one in Dec. 2009, leaving 7 active. Her salary deductions were faithfully sent in via her employer. However, every new policy or cancellation required a change in her salary deduction amount, so on a few occasions, there was a shortage due to a late increase, but not enough to cause a policy to lapse.In the midst of this, her Salary Deductions (SD) came to us on2 different company bills, which the Policyholder explained was a result of her taking a 2nd position, and has SD's taken out of that pay as well. Although we did sometimes receive 2 company bills in the same month, the combined total was not a double payment. All in all, she was pretty much current on all 7 policies, until she was out on Disability in 2015. In all, 4 months premiums were missed, totaling $304. She was sent Missed Deduction letters on 4 occasions, detailing the shortages. Her SD's resumed on the company's Jan. 2016 bill, but the premiums were significantly behind. The older policies were able to stay in force as they took Automatic Premium Loans (APL); however, the 2 most recent policies, had yet to earn cash value, so they could not APL. One lapsed effective Dec. 2015, the other for May 2016. The minimum to bring all her policies current was $466. She recently sent in $160.00, however, to reinstate the two lapsed plans would require