Illinois Mutual

Fed-Up,

I am not sure as to what legal assistance you are looking for at this time. Are you looking to try to cash in on the policy now or just trying to seek clarification for when age 65 does come?

Stephen JessupNov 21, 2013  #4

Disability Policy with Illinois Mutal for 14 years, since February 1998 they have been deducting monthly from my checking account. A recent job change and insurance selections made me check on existing policies and when I inquired Illinois Mutual informs me that I do not have Surrender Value Rider on this policy. Well, I kept the original policy in a locked fireproof safe all these years and it reads in black and white:

‘At age 65, the surrender Value Rider returns 100% of all premiums paid, less claims paid to you’. Further reads: ‘In addition to receiving a cash lump sum at age 65, you could also convert the premium refund to a monthly income for 180 months of $118.46, Annual income at age 65 payable for 180 months $1,421.52 or total income paid over 180 months of $21,322.73’. They are tyring to tell me it was just a normal Disability policy – which is a crock – at 34 years old when I did this it was for investment reasons and I zero concern on any Disability Policy – was sent up through financial counselling. I have short and long term disability through work.

I am getting no where with Illinois Mutual and may have to turn this over to an attorney. I did write a letter giving them 14 days to respond in writing prior to me turning over to legal and that I had the original policy and PDFs a copy of the above that was attached to the policy on their letterhead to them and issuing agent.

Any suggestions?

Fed-up in Michigan!Nov 20, 2013  #3

There is no standard in the Insurance Industry as to definiitions as to what is construed as “Long Term” and “Short Term”. Each company has thier own opinion. As a customer for 22 years, the claims representative only allowed payment for 3 months. Then they made a statement saying that “I was able to return to light duty work”. Yet, the Office of Occupational Standards, identifies that if swelling occurs, I am not eliigable for light duty. Becoming an advocate for myself, Illinois Mutual has not paid the last 3 months of claims. I filed for Social Security Disability and was denied saying thier records showed, maybe, I could do light duty in Feb of 2012. But, I know that they plan a surgey to take hardware out at that time. So, faithfully paying premiums for 22 years and now an Advocate fighting for me. I am asking that the Agency that sold thier policies stop and look at other carriers. It’s obvious I am not the first complaint, and will fight to my best for my rights.

Edward A. SvajglSep 22, 2011  #2

My father Michael Shefcik has been with Mutual Illinois for 25 years and during the 25 years used this policy once, got only about 1900 dollars after almost cutting his arm off with a chain saw… and it then was an act of God to get that much… but against my advice to my father we kept the policy. He encountered hard times due not having full function of his hand, so I took over paying his policy $67 a month. Well all of a sudden for the past 5 months they began taking $267 dollars out and when I called and asked “what in the world is going on” I was told he was now at a risk age, his birthday in next March and he will be 50… I can not even begin to comprehend how the persons in charge of this can sleep at night… Off of my father alone he has payed in thousands, and thousands of dollars and without him verifying to pay such an increase you all take it upon yourselves to do so and it wasn’t like a 10 dollars increase, it doubled… Is this how valued customers such as my father is treated… I find this to have been a total scam!!! Needless to say I had to cancel his policy he has had with them for 25 years…

Traci ShefcikNov 19, 2010  #1