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Prudential Life Insurance Policy

By Terry Savage on April 25, 2022 | Insurance & Annuities

Hi Terry,
I bought a whole life policy in my 20’s. I’m now in my 50’s and a new agent talked me into “upgrading” the policy. He said it would cost me nothing and my annual cost will decrease. When I received the new contract, it shows the I was charged a “Sales Charges” of $7662.77 and a “Premium-Based Administrative Charges” for another $1998.99. I think this agent misrepresented the truth. Rather than email responses to my questions, he called me from his mobile phone and the calls were not recorded. Is there anything I can do at this point?
Thank you in advance for your guidance.

Kris Collins

Terry Says

Yes. Immediately get in touch with Prudential (toll free number on your policy statement) and using your account number you should complain. Let them know you wrote to a newspaper helpline. If you get nowhere contact me again, and I’ll see if I can help. That’s outrageous!!

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