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American Memorial Life Insurance Co

Country United States
State South Dakota
City Rapid City
Address 440 Mt Rushmore Rd
Phone 605-719-0999

American Memorial Life Insurance Co Reviews

  • Oct 25, 2018

Based on the customer's complaints on both " & the "Two" 2017 Complaints with the Better Business Bureau. I felt compelled to cancelled my Burial Insurance on 09/30/18 , because American Memorial Insurace Company, would "Not" honor their Contract Agreement with these other Customers. I felt that they will do the same thing to me.....I was making monthly payments of $ 145.92 for the next ( 5 ) Years. This is a lot of money & felt ; that If I Died, they would make things diffcult for my Spouse ; during the Burial Process.....!

I firmly believe, that American Memorial Life Insurance Company is very deceptive & never intended to honor their contract agreement with me , and I would like to recieve a "Full: Refund , they have only given back $ 208.54. on 10-17-18

I Lost additional $ 800.00, that I invested into, this unfortuate Contract with American Memorial Life Insurance Company.

Folks, Please take the time, to research these Insurance Companies, most of them ; have numerous Complaints against them.

Respectfully Submitted

Christopher C

Military Veteran & Senior Citizen

  • Nov 14, 2015

This is a bait and switch Funeral pre-need policy. The consumer is guaranteed "peace of mind" for their familiies in the event of exuberant funeral costs, but breaches the terms of its own contract by failing to timely conduct a medical investigation

The alleged "two year" contestability period as it reads in the policy is a conditional contestability period. In other words it is contestable, if and only if the insurance company finds that upon receipt of first premium and for the previous years prior to that date, the insured was not diagnosed with a listed condition, If not, coverage is effective.

From the time the insured enters into the contract/enrollment form, a medical release of information is executed, so the insurance company has a duty to timely conduct its investigation as to whether or not the insured had been diagnosed with a listed illness for the previoius five years.

Moreover, the insured executes an affidavit confirming that he/she has not been diagnosed with any of the liste illnesses.

But if the death occurs within the two year period, the insured and its agents misrepresents that coverage is contestable and denies the claim right then and there, after they are in possession of the decedents body and embalment has taken place.

Loophole # 1 - Next they move to wash their hands of any contractual obligation by offering to credit you the premiums for the upfront funeral costs that you have to pay for because they misrepresent to you that there is no coverage, or it is being contested, or denied.

Loophole # 2 - Next let's look at the listed conditions. For example, Diabetes requiring more than 80 units, and Kidney Failure. Well we all know that in the progression of the Diabetes illness, Kidney failure is inevitable. So what the insurance company does is in their contestablity period they search and fine-tooth medical records post enrollment and are guaranteed absolution of their contractual obligations because of the natural progression of the listed diseases.

* However, keep in mind that the medical investigation can only go to the previous five years from the time of enrollment and not after.

So in a nutshell on paper/contrat you have coverage upon receipt of the the first premium by American Memorial Life Insurance Company, but in reality you don't. Unless you pay for a minimum of two years, you don't have any coverage. So for two years you are paying premiums but not recieving the coverage as stated in the policy.

The contract was executed in the Great State of Texas, and our contract laws are integrated with the Deceptive Trade Practices Act and the Texas Departement of Insurance heavily regulates insurance companies when they engage in unfair deceptive practices. The state administrative penalties issued by TDI will most surely deter American Memorial Life Insurance Company from future deceptive acts.

Suffice to say, that the contestability / denial of the covereage at the loss and devastation of a loved one in preparation of their last ceremony is an intentional infliction of emotional, mental, and physical distress, yet another tort action.

Stay out of our state, and keep your praire dog business practices in South Dakota.

Don't mess with Texas!!!

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