State Farm - Being forced to buy life insurance? | GTAMotorcycle.com

State Farm - Being forced to buy life insurance?

J

Juice

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This was my first time buying insurance and I feel like I may have been taken advantage of here...

When I had originally called in to SF I was given a quote by a junior, but I was told he wasn't allowed to insure me over the phone because the agent wasn't in the office at the time, so I was asked in. I went in, and then I was given some options for life insurance. I'm already covered through work, but I had never considered it and so I decided take a day and look into life insurance options.

I do my research and I decided I didn't want any. The next day I go in, the agent is in a meeting so I deal with a junior rep. The agent walks into the room quickly to say hi and give the junior instructions, and now it seems I'm forced to take out a term life insurance policy. I said I didn't want it, but the rep said I didn't have a choice.

I was eager to get things moving so I could ride, so I just went ahead and bought the life ins. Was I conned here? Should I go back to cancel? or cancel everything and go find another agent?
 
Yes you were conned as it is illegal for them to force you to buy life insurance to get an insurance policy for your vehicle.

I'm not sure if you would incur any fees if you try and cancel, but if you do you can contact the ombudsman and explain your situation.

They have been known to do that a lot. Varies per SF agent.

http://www.giocanada.org/links.html -> Ombudsman just in case...
 
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Not true. Stay away from that broker. I don't know if its completely true but they cannot force you to have sign up for a service just to get the one you want. If you want a great broker give me a pm.
 
Ah, figured so. I don't see anything about cancellation fees in the paperwork. I'm assuming if there were any fees they'd be outlined there?
 
Forced to take out a term life insurance policy? Firstly , no one can force you to sign up for anything. If you signed on the dotted line, you agree to acknowledge and understand the terms and conditions laid out by said policy/policies. If you go back , you will most likely have to deal with the ramifications of cancelling your insurance policy (i.e. cancellation fees) .

Looks to me like the agent saw a sucker and told the junior to get you hook, line, and sinker. What **********.

Be careful next time.
 
Forced? Wow, weird. I remember having policies with SF before. They basically *offered* me different insurance policies to offset my car insurance by adding multi-line discount. i.e. I had rental insurance for around $15/mth and was saving about $20/mth on car insurance. Then when I didn't need renter's insurance, they offered life insurance at 22/mth to save around 20/mth on car insurance, I figured why not, but SF never forced me to take those extra policies.
 
sometimes there is a cooling off period so you can check and see if you can cancel... http://www.fcac-acfc.gc.ca/eng/reso...ce/InsuranceBasics/InsuranceBasics-22-eng.asp

For some reason I thought there was by law a 30 day period but I may have been thinking of something else.
There is also their breach of bundling laws, which is not permitted (actually totally illegal).

disclaimer: I work for a life insurance company but don't know that much about insurance policies except my own personal policies. not in sales or any other role remotely related to interacting with customers. This commentary is purely my own.
 
I had same expireance in the past with SF
This agent is located on steeles ave east just north of Leslie
Also made me get life insurance
Next day I called SF head office and had them fix the issue and files a complaint agains the agent
 
Were you offered a lower rate by including the life insurance? And if so, does the motorcycle rate offset the payment on the life insurance?
 
MPS said:
I had same expireance in the past with SF
This agent is located on steeles ave east just north of Leslie
Also made me get life insurance
Next day I called SF head office and had them fix the issue and files a complaint agains the agent
Click to expand...
Do this
 
koma said:
Do this
Click to expand...


No do this

Call this number: 1-877-370-3276 and if you dont get a resolution go to the ombudsmen.

When i called statefarm about this they said they would let me cancle my life without worry of loosing the bike policy. I said no i want it refunded but they would not. I left a voicemail for the person I was dealing with saying i was going to the ombudsmen with what happened i had a call at 6:00am from some VP telling my a refund for the full life policy was in the mail.
 
Some SF agents i called first told me i HAD to get car ins if i wanted the moto ins. Hung up and called someone else. Overall my experience with SF agents has been **** cept for Grant from the Dundas and 427 office. Alas he quit last year and so far dealing with other agents has been a pain.
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