Stonebridge Life Insurance Company

Stonebridge Life Insurance Company is a direct to consumer insurance company which has been protecting families across America since 1994. Stonebridge Life an AEGON company. AEGON is an international life insurance, pension, and investment company based in Hague, Netherlands. In addition to Stonebridge Life, other members of the AEGON Group include Life investors Insurance Company of America, Transamerica Financial Life Insurance Company, Transamerica Life Insurance Company, Monumental Life Insurance Company and Peoples Benefit Life Insurance Company. Stonebridge Life’s administrative office is located at Plano, Texas. Marilyn Carp serves as the company’s president.

As of May 13, 2005, Stonebridge Life is rated A+ (Superior; 2nd of 16) for financial strength by AM Best Company, one of the most respected independent analysts of the insurance industry. With a top financial rating, its policyholders amount to more than 3.7 million. It has estimated annual sales of $653,495,750.

The company’s goal has been to provide customers what they want, exactly when and where they want them. Stonebridge Life employs its years of direct marketing experience as well as the latest technology to match its products with the needs of its customers, thus helping accomplish its goal for the clients.

Stonebridge Life is known for its benefit products, including PlanPlus which gives clients savings on prescriptions and health care including eye exams, LASIK surgery, hearing aids, podiatry, chiropractic care, teeth whitening and more; LeisurePlus which provides discounts on airfare, cruises, vacations, hotels, rental cars, gas, theme parks, movie tickets, restaurants, plus access to travel planning tools; and MotorPlus which supplies round-the-clock emergency roadside assistance. It also offers life insurance, accident and hospital coverage, and dental insurance. Term life insurance, whole life insurance and other supplemental insurance plans are sold directly to consumers by way of mail, phone and the Internet.

Particularly, its term life insurance offered is up to age 70 and available for individuals aged 18-59. It is also up to $75,000 in affordable term life insurance coverage. Short term life insurance, on the other hand, includes a one affordable payment for one year of term life insurance in coverage amounting of $25,000, $50,000, $75,000 or $100,000.

There are 10-year terms and 2-year terms, as well as juvenile term available for ages 3 months-18 years, which includes $5,000 in coverage for client’s children or grandchildren. For whole life insurance, there are whole life, underwritten whole life, simplified whole life, and modified whole life.

The company’s accident insurance has coverage to age 75 and guaranteed acceptance regardless of health or occupation, as well as $50,000 of coverage. Accidental death insurance’s coverage is $12.95 per month for the insured, $19.95 per month if spouse is added. There are no medical questions or exam required for health insurance.

In September 2004, Stonebridge Life has qualified to become a member of the Insurance Marketplace Standards Association (IMSA), the national organization committed to promoting high ethical standards in the marketing, selling and servicing of individually sold life insurance, annuities and long-term care insurance. IMSA successfully completed the meticulous independent review of the company’s marketing, sales and compliance practices that is required of all its member companies. The IMSA logo reminds the company’s customers of its continuing dedication to fair treatment, high ethical standards, and honest business practices. By qualifying for IMSA membership, Stonebridge Life has demonstrated its dedication to following IMSA’s Principles of Ethical Market Conduct.

FINGERHUT, Stonebridge Life insurance St. Cloud Minnisota

It is my understanding that if you do not pay an insurance premium then the policy lapses. Fingerhut keeps billing me for an insurance policy I got with Stonebride Life Insurance, and tacking on late fees. I have cancelled the policy with Stonebridge and Fingerhut tacked on a $14.90 late fee after I cancelled the policy. $14.90 late fee for a $54 bill!

I think this qualifies as harassment that Fingerhut is trying to force me to pay for something that is optional. I don't want it, I didn't pay for it, after the first missed premium payment the policy should have lapsed. They keep billing me and tacking on higher and higher late fees.

Has anyone ever had an insurance company continue to send bills, tack on late fees and demand payment on a lapsed policy?

They have called me and told me my account was overdue and I needed to make a payment right now. I told them it was an insurance policy and if I don't want it I don't have to pay for it. You can not force someone to pay for a life insurance policy they do not want. Plus Fingerhut is not an Insurance company and if I would have died they would not have paid out anything so why do they think I owe them anything?

They say they are sending it to a collections agency.
Isn't there something illegal going on here for them to insist I make payments on a life insurance policy? I thought it was if you pay you are covered, if you don't you are not covered and that's it.