Allstate Launches New Whole Life Insurance Product
The above headline was taken from an Allstate Newswire release dated July 30th, and it comes less than a week after notifying its retirees that the company will no longer honor paid-up life insurance policies that were fully earned after 30 years of continuous service. Oh, yes, this is the very same Allstate that also reneged several years ago on all of its retiree health contracts. The same Allstate that now says thousands of those 70, 80, and 90-year old retirees must pay the premiums as of January 1, 2016 for all those supposedly paid up contracts, or die before that date if they want to keep the coverage that they had been assured was 100% earned. Oh, before I forget, Allstate has sold all of these contracts to a little known life company in Minnesota, and when contacted, their frontline folk parrot that they know nothing about what has taken place, and definitely have no idea what those pesky premiums will be. SURPRISE!