Conseco Life Insurance Company says officials from the Florida Office of Insurance Regulation have agreed to meet with the company to discuss a dispute about universal life insurance premiums.
The Florida office filed an order to show cause against Conseco, a unit of Conseco Inc., Carmel, Ind., Dec. 22, 2008, after the company announced it was seeking additional premiums on universal life insurance products it had sold in the state and elsewhere.
Conseco says it has agreed to talk about the issues that caused it to seek additional payments on policies that owners had thought were paid up.
In December, the Iowa Division of Insurance issued a cease-and-desist order against Conseco after some policyholders and insurance salespeople complained that the company was seeking additional premiums on UL policies it sold in that state.
What Your Peers Are Reading
UL policies give policyholders the flexibility to vary their premium payments and still maintain insurance coverage.