MassMutual shafting customers?

I found that article in Google Groups. A 65 year old man is complaining that MassMutual Life insurance increased his premiums by 350% with no notification what so ever.

The interesting point is that the man and his wife hadn't looked at their policy since they took it out in 1989. They weren't really sure about the terms of their life insurance policy.

Now they're angry because their premiums have increased a huge amount.

The question is: what did they agree to at the time. Did they agree to a fancy deal where the policy would automatically renew with no medical, but at higher premiums?

I'm going to ask my expert about this and write a little more about this topic.

I encourage people to dust off their life insurance policies if you haven't looked at it for a while. The time to get really familiar with the policy IS NOT when you're 65-70 years old and starting to look forward to it's benefits.

The life insurance industry is highly regulated, and I can't see them increasing life insurance rates which weren't agreed to in the original contract.

Articles from February 2006
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