What Are Some Big Lou Life Insurance Complaints?
A Big Lou Life Insurance complaint might sound like an exaggeration, but it is not. According to the Insurance Information Institute, a whopping 72 percent of people filing insurance claims are dissatisfied with the results of their policies. The reasons given for dissatisfaction vary greatly. For example, some complain that they bought a cheap, inadequate policy that did not cover a variety of needs. Others complain about the loss of face value when the policyholder dies, or that they were not adequately covered for the risks they encountered while traveling.
When it comes to dissatisfaction with life insurance, t here are a number of things you can do to avoid being included in any of these problems. To begin, you should not purchase life insurance without speaking to an agent from the Big Lou Life insurance company. Most people who buy life insurance never mention any problems they have experienced when purchasing the policy, but the agents that work for the Big Lou Life insurance company always have room to discuss customer satisfaction. If you are unsatisfied with your current policy, now is the time to speak to a broker. Many brokers at Big Lou Life insure individuals on the National Do Not Call List. This means they must inform the person if they have been placed on the list and what the reasons for their inclusion are.
If you feel you have been the victim of a deceptive or unethical marketing scheme, now is the time to voice your opinion. The easiest way to do this is through the Better Business Bureau, or BBB, website. On this website, you can type in your name or the name of the company and you will receive a full list of complaints filed against the company. After you have reviewed the list, you will be in a better position to make decisions based on what you learn. You will also find out how the company resolved the problem, if they fixed it satisfactorily, and whether there were any errors made in their processes or claim approval.
Some of the information on the BBB website may be outdated. If the names and dates do not correspond to the information on the site, contact the agent or company listed and ask for a current copy of the policy. It may take a while to obtain this information, but it is worth it to avoid Big Lou Life Insurance complaints in the future. Of course, you may have to pay for this information, but if you are shopping for life insurance, then you really don't have a choice.
When you first hear about a certain company, it's hard to believe that they would make a mistake as often as they do. However, these types of mistakes happen all the time. For example, some companies mistakenly include premiums and penalties that should have been paid at the time of renewal. Or, they may indicate an annual fee instead of a monthly one. And, some policies indicate a single premium monthly for twenty years, when a twenty-year term would cost less.
Be aware of all these potential problems when looking for life insurance. After you've determined what kind of policy you need, you'll want to familiarize yourself with all of the Big Lou Life Insurance policies available. Many people choose either term or whole life insurance, because of their lower cost and flexibility. Term policies provide you temporary protection from death. If you should die during the term, your loved ones will get paid a lump sum. If you decide to stay alive, then your family can cash in the policy for a one-time fee.
Whole life insurance is designed to cover burial expenses and legal fees for the beneficiary. You'll pay regular premiums for as long as you live, which ensures that you won't outlive your policy. Because it is longer than term insurance, you will be required to pay a much higher cost initially, but it will also cost more throughout the life of the policy. In the end, however, it is worth it if you have a large estate to leave to your family.
Many Big Lou Life insurance complaints focus on claims-free policies, but there are a few other things to look for when comparing policies. Some people call attention to the fact that they only pay premiums once a year, when really the best way to have your premiums deducted each month is by setting up a "tax-free savings" account. Other people complain that the policy deducts too much money from their paycheck each month without providing any benefit. Check with your agent to find out whether your plan provides this benefit, and make sure you understand how it works before buying. Most policies do, so you're not wasting money by getting insurance that isn't right for you.