life insurance question concerning a company

[onethatcares]

I have been paying into a life insurance policy that changed corporate hands 3 times over the life of the policy.

Now that it's time to collect, my wife and I have found that there is no cash value in it and that in order to keep the

policy in effect the premium will triple.

Company is with the Lincoln Financial group. Research shows they cover their asses pretty well by settling problems.

Has anyone had dealing with them?

[rug]

1. Call the Insurance Commisioner (or whatever they call it) in your state.

Unless it's term life insurance, that doesn't sound right.

[MosheFeingold]

2. Sounds like you bought a term life policy, not whole life

Which was a sound idea at the time, in that whole life policies are a rip off.

Congratulations on not dying and not needing it.

[Mosby]

3. only whole life and U-life policies build cash value.

[onethatcares]

4. it's a universal life

and my wife and I feel we're being royally screwed. 30 years of monthly premiums and 2000.00 cash value.

Was supposed to be 700K by now, but that was agent talk that long ago.

[whistler162]

5. Sounds like you need to have someone examine

the policy, a life insurance agent you trust.

[Fla Dem]

6. You should have been receiving annual statements if it was a UL policy.

Who told you it didn't have any value?