Terrible Customer Service
When I took out my loan, I purchased insurance for peace of mind. I believe they are now run by Cooperators Insurance now. Initially, everything seemed fine—I placed a claim and was told there would be a 30-day grace period. I received the first payment as expected, but the second payment never arrived. When I inquired, I was told that payments are always 30 days in arrears and I would need to wait an additional month. This was incredibly frustrating because I needed those funds to make my loan payment. What’s worse, they never mentioned this policy upfront, causing unnecessary stress and financial strain. Despite my concerns, they were adamant: I simply had to wait.
Things got even worse when I began my gradual return to work, which was planned over an 8-week period. Without any notice, they completely cut me off, claiming it was because I’d be working 20 hours a week. For the first 5 weeks, I worked less than 20 hours as part of my recovery plan, but they refused to acknowledge this. When I tried to discuss the issue, they wouldn’t respond, except for a single voicemail informing me that my claim had been closed.
This entire experience has been a nightmare. Loan insurance may seem like a good idea, but in reality, it’s not worth the stress and difficulty it can create. I strongly advise others to beware of these policies—they might leave you in a worse position than you started.
September 9, 2024
Unprompted review