Monumental Life Insurance Out of Busi...

Monumental Life Insurance Out of Business

Posted in the Middlesboro Forum

First Prev
of 2
Next Last
Concerned Policyholder

Henderson, KY

#1 Aug 25, 2009
Rumors about Monumental Life are goin around that they have closed their offices and are to be out of business by the end of the year. I am a policy holder along with my family. I am very concerned of this. They already closed their Pineville office, my old agent was a nice guy and now some jerk comes by to see my that I have never met before pushin' junk off on me, and one of my neybors told me that an agent told her that they were goin' out of business by the end of this year. What am I to do? I also heard they don't have money to pay off if something happens to you. Whenever you call, no one ever answers the phone at the number my new agent give me and their rates are awfully high. I also heard that a lot of the agents for Monumental have been caught stealin' peoples money when they collected them. Someone tell me what I should do. I don't trust this company, the agents and I think I pay too much to these crooks.
Billie

Cynthiana, KY

#2 Aug 25, 2009
Doing business with Monumental is foolish. They closed their office without telling anyone it was going to. I had business with them for years, and all of the sudden I showed up to pay my bill and they were nowhere to be seen. I didn't know who to call or what to do and just lost my business. The agents that work there are unprofessional and I'll never do business there again. Dont worry, Concerned Policyholder....once you get out and check for yourself, youll be mad you even had business with them in the first place. They are way too high anyways
prickly

Lexington, KY

#3 Aug 26, 2009
Those agents are crooks. Don't mess with them. They is always tryin to beat somebody out of a dollar. My sister told me there are some other good insurers in town like Ron Gilley over in Pineville, Jimmy Jackson, Farm Bureau, Mike Campbell over in Harrogate and others I have heard of just to name some. Monumental is known for ripping off there customers and nothing ever bein fixed about that. I would cash in all my policies and go somewhere else. Some jerk from Corbin, Ky claimed to be with Monumental and tried to go and collect my sister and she wouldn't pay him cause she had never seen him. He just showed up aksin for money. Can you believe that. Crooks a lot of them.
Call Him

Louisville, KY

#4 Aug 26, 2009
Concerned Policyholder wrote:
Rumors about Monumental Life are goin around that they have closed their offices and are to be out of business by the end of the year. I am a policy holder along with my family. I am very concerned of this. They already closed their Pineville office, my old agent was a nice guy and now some jerk comes by to see my that I have never met before pushin' junk off on me, and one of my neybors told me that an agent told her that they were goin' out of business by the end of this year. What am I to do? I also heard they don't have money to pay off if something happens to you. Whenever you call, no one ever answers the phone at the number my new agent give me and their rates are awfully high. I also heard that a lot of the agents for Monumental have been caught stealin' peoples money when they collected them. Someone tell me what I should do. I don't trust this company, the agents and I think I pay too much to these crooks.
There should be a phone number on your policy call it, I have insurance on my whole family with this company and when I read this I called the main company in maryland and they said in no uncertain terms that they were not going out of business,I ask why our local office had closed and they said it had been moved to corbin.my agent is Danny Dunaway maybe you could call him his number is six-o-six-five two eight-four nine seven seven,maybe he can help you.
Wondering

Seattle, WA

#5 Aug 26, 2009
I may call this guy. Thanks for the info. I said this because a friend of mine told me that an agent told him that Monumental was out gonna be sold off at the end of the year. That menas not only no office, but also no agents. With all that AIG nonsense, what company can you trust? We realy don't have any good insurance companys around the area. Even if they were goin out of business, they wouldn't tell you that. Anyway, I think I am just gonna look for another insurer, maybe an independent one in the area. I heard from a few friends that there is suppose to be a new agent in the area that is gonna open an office soon. Maybe I will get the information from them and contact this person. Just not gonna deal with Monumental anymore. They just gave me the run-around anytime I called before. If I wanted to take money out of my policy, it took them a month to come out, but if I wanted a policy on a family member, or a family member wanted a policy, they showed up that day. Seems they only want your help when it makes them a buck.
Finger

Harlan, KY

#6 Aug 26, 2009
An honest insurance man..........
maybe we should look for Bigfoot instead.
We have as good a chance with one as the other.
cant stand them

United States

#7 Aug 26, 2009
I won't name my former agent's name on here. But he worked for Monumental. He talked me into getting policies on myself and my child. He would always show up whenever it was time to collect the payments, but yet when I needed him, he would never come around.
When I lost my job, I couldn't afford the insurance any longer, so I dropped it. Still, he would come by my home, by my parents, called non stop... harassing me for payment.
Okay, I have a home to pay for, and a child to support, I don't have money to pay for life insurance.
I actually had to have my cousin remove him from my property. I decided then and there, I would never use that company again.
A few weeks ago, I saw him... and he asked me if I could afford it now... I said "No, and even if I could I wouldn't use you."
Rule #1... NEVER USE AN AGENT THAT HARASSES YOU INTO GETTING AN INSURANCE POLICY.
Wondering

Columbus, OH

#8 Aug 26, 2009
I hate that happened to you. My sister told me that a friend of hers found a new agent in the area that is opening an office with New York Life. My sister's friend thinks the world of him. Maybe you should ask around and get in touch with him. Those crooks at Monumental not only harass but they steal as well. By the way, I know exactly who that agent is! I will bet money on it.
Footloose

United States

#9 Aug 26, 2009
This is crazy!
Wondering

Lexington, KY

#10 Aug 26, 2009
What is crazy? That hardworking, honest folks are being ripped off by crooked insurance agents? Screw you!
whats up

Somerset, KY

#11 Aug 26, 2009
I know dan dunaway pursnaly he is a good guy i know that forsure
Wondering

Granbury, TX

#12 Aug 26, 2009
Who said anything about Dan Dunaway? No one did. but he works with a bunch of crooks. No one said he was a crook, just a bunch of the guys he works with.
true reality

Winchester, KY

#13 Aug 27, 2009
Hey! All the negative comments about Monumental coming from American General agents or something? I used to work for Monumental until about 5 years ago. Had 2 guys to steal money and they went to prison. You get more prison time for stealing money than killing someone. Anyway, they moved out of Pineville because Charles Evans raised the rent too high and they consolidated the Corbin and Pineville offices. Call the District Manager at Corbin. His name is Barry Parrish, he is a good guy and he will treat you right. And if anyone has been ripped off, Monumental will take care of it. The office is on US 25W north, like going to London, about 2 miles out of Corbin on the right. They do business right. You can find the phone number on their website. By the way, New York Life DID go bankrupt a few years ago. You know the old saying, you get what you pay for.
Wondering

Somerset, KY

#14 Aug 27, 2009
Well, if one office closes another is soon to follow. I really don't care who the guy in Corbin, I don't trust the company. Must be Monumental agents on here trying to save face. Get a real job, you bums.
Concerned Policy Holder

Somerset, KY

#15 Aug 27, 2009
I didn't know that about New York Life. Thanks for the info, true reality. Fact is, much of my own family had business with Monumental and it makes them and a lot of others nervous when offices close. It seems that consolidating offices is code for soon to close. That's just me. Fact is, a lot of bad rumors are flyin around about Monumental policies and folks I know say they can't even get an agent to come out and see or collect them. Are there any agents left around here. Looks like Monumental is gonna end up bein like American General, Life of Georgia, and a bunch of other companies that just folded up and never came back. I know about the other companies. When that office closes, they ain't ever comin back. That's fact. True Reality, if you are right then we all get what we pay for, and that definently includes Monumental.
true reality

Winchester, KY

#16 Aug 28, 2009
Fact is, the only reason the Pineville office stayed open as long as it did was because they built their business selling small $1,000 and $2,000 burial policies, because that was what everyone wanted. Now, parents that were paying for their adult kids policies are dying off, the kids are too strung out or too sorry to keep insurance and it is almost impossible for a company like Monumental (the old Commonwealth of Kentucky) to justify so many offices. I still have my Monumental policies, as well as other ones. Do like a stock broker would advise; diversify. Buy from other companies and Monumental. They still have an A++ rating, which is the best. Do research; contact the Department of Insurance and ask about Monumental's status and rating. Go to A.M. Best and other rating institutions to find out the truth. Don't listen to these folks who comment about everything but really know nothing. Do your own research.
common sense

Ripley, TN

#17 Aug 30, 2009
true reality wrote:
Hey! All the negative comments about Monumental coming from American General agents or something? I used to work for Monumental until about 5 years ago. Had 2 guys to steal money and they went to prison. You get more prison time for stealing money than killing someone. Anyway, they moved out of Pineville because Charles Evans raised the rent too high and they consolidated the Corbin and Pineville offices. Call the District Manager at Corbin. His name is Barry Parrish, he is a good guy and he will treat you right. And if anyone has been ripped off, Monumental will take care of it. The office is on US 25W north, like going to London, about 2 miles out of Corbin on the right. They do business right. You can find the phone number on their website. By the way, New York Life DID go bankrupt a few years ago. You know the old saying, you get what you pay for.
I was reading this thread, as I have had a few acquaintances work for Monumental over the last several years. First of all, AIG owns the company American General. AIG was bailed out last fall because they didn't have the cash reserves on hand to continue operating. So, any subsidiary of AIG could still be strong, but it is likely that American General will be split up and sold off to raise capital for AIG.

Next, Monumental was Commonwealth Insurance and had been in the area for years. I say this because the same thing happened with American General, Monumental closed their Pineville office, for whatever reason the best being they were not profitable, and operations relocated. I know for certain that once the doors close, they will not be reopening in the area. The parent company for Monumental is AEGON. AEGON owns a number of life insurance companies including Stonebridge (JC Penny sells it with your credit card). Chances are, the trend of office closings will continue, and Monumental will be merged with a company like Stonebridge and agents are more than likely going to be phased out.

Lastly, I read the comment by true reality about New Yor Life filing bankruptcy some time ago. I researched this comment and found that it was completely untrue. Therefore, it leads me to believe that the user "true reality" must be an agent for Monumental Life. Why else would this person be talking trash about another competitor.

So, "true reality" I did my homework, I am informed, and I found that you are full of s*^t. Folks, please do your own research before purchasing any product of any kind. Life insurance, new car, electronics.... Be informed and when someone talks down about another competitor, it's usually because the competitor must be in their wallet.
Wow

New Tazewell, TN

#18 Aug 30, 2009
Billie wrote:
Doing business with Monumental is foolish. They closed their office without telling anyone...
Wow...That's "Monumental !"
ticked off

Somerset, KY

#19 Aug 31, 2009
cant stand them wrote:
I won't name my former agent's name on here. But he worked for Monumental. He talked me into getting policies on myself and my child. He would always show up whenever it was time to collect the payments, but yet when I needed him, he would never come around.
When I lost my job, I couldn't afford the insurance any longer, so I dropped it. Still, he would come by my home, by my parents, called non stop... harassing me for payment.
Okay, I have a home to pay for, and a child to support, I don't have money to pay for life insurance.
I actually had to have my cousin remove him from my property. I decided then and there, I would never use that company again.
A few weeks ago, I saw him... and he asked me if I could afford it now... I said "No, and even if I could I wouldn't use you."
Rule #1... NEVER USE AN AGENT THAT HARASSES YOU INTO GETTING AN INSURANCE POLICY.
I tell you what. My cousin was harassed by an agent named Dan with Monumental. The guy kept comin around and botherin her about payin her insurance. She finally had to start screenin her phone calls to make sure it wasn't this Dan guy callin to harass her about her insurance money bein due. She finally lost her insurance, but told me she would never get insurnace with that company again and would warn other people not to buy from them to. That's not an agent I would do business with.
Thin Business

Ooltewah, TN

#20 Aug 31, 2009
ticked off wrote:
<quoted text>
I tell you what. My cousin was harassed by an agent...
It was probably when their business was starting to get really thin....so the guy was trying to get every penny of cash possible.

If they had had a health business..bringing in new clients...etc....when folks allowed their policies to lapse...well...that would just be too bad for them.

Sound like it had gotten to the point they were needing every single premium...every month...just to keep the lights on...thus the constant calling.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker
First Prev
of 2
Next Last

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Middlesboro Discussions

Title Updated Last By Comments
News Bible study rules for public schools proposed (Feb '10) 25 min usa 163,855
Which project apts are the best to live at? 3 hr Steph 1
casey ogan (Jan '15) 3 hr XXXXH 8
Unsolved Murders (Mar '14) 4 hr Wells Camp 14
Truck Stolen from Middlesboro ARH 5 hr Anonymous 2
Anybody have any experience fishing cannon cree... (Feb '11) 7 hr BassFishin23 31
Heather Spade 12 hr Tiny 5

Middlesboro Jobs

More from around the web

Personal Finance

Middlesboro Mortgages