Complaint Review: Allianz Life Insurance Company of North America

Allianz Life Insurance Company increased my quartly premium payments from $128 to $472 and decreased my accumulated value from $2500 to $550 without any notice of the pending increase and giving me a chance to cancel the policy before the rate increase. 

I have had this policy for over 30 years with no changes, until now, and have over $14,000 in paid in premium payments.  I am 74 and it is obovious that this company is scrubing all its senior customers in order to reduce near furure liabilities.  I have asked the company for my last statement's balance of $2,500 and cancel the policy.  So far they have refused to do this with no rational explaination.  I find this an outragious and shoud be an illeagle business practice.