Beware of that Variable Universal Life (VUL) Insurance policy from Ameriprise

Companies like Ameriprise and RiverSource are very eager to have you sign up for a VUL policy. Why? Because they're very expensive in regards to fees and cost of insurance (COI) and this generates tremendus profits for both Ameriprise and RiverSource. This way they can have offices on the top floor of the most expensive building in every major city. So what happens when you take out a policy and in a short time after only making a few premium payments you die? In the case of Ameriprise, they just refuse to pay the claim and then you're heirs are forced to take them to court. In the case of Linda McCartney, she took out a policy and only made 4 schedule payments and in the 4 months she owned the policy she dies in a car wreck. Ameriprise isn't happy about this since they took in about 1600 dollars and now they owe 500,000 dollars so they just ignore the claim. Now, Linda's heirs have to file a lawsuit to get what's owed to them.

Beware of these policies from Ameriprise.