Life Insurance

Thanks to the Register for following the Conseco Life Insurance Co. secrecy deal. In February, I received a notice that my husband's and my Conseco Insurance policy monthly premium would be rising 25 percent May 28.

When we purchased the policies several years ago, we were told the premiums would never increase. A few years ago, they did increase, and I called the Iowa insurance commissioner to inquire how this was possible.

I was told that if an insurance company could prove it was not making a profit, the state would allow it to increase rates. The company could come back for approval of an increase whenever it chose. So much for never increasing premiums.

We were not surprised to receive notice of another monthly premium increase. However, it seems to be more than coincidence that the increase comes at a time when Conseco has been assessed a sizable penalty by the state insurance commission.

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