I am a retiree of FirstEnergy. Several years ago, I had what the company referred to as a grandfather policy with a small monthly premium that I paid. Recently, I received a letter from First Energy stating that they would be eliminating a large portion of this life insurance policy.
First Energy is only taking this action with the life insurance policies of retirees under the age of 70. Why? In addition, we received a letter several months ago stating that they will probably eliminate our health insurance by the end of 2014. However, in the news recently, I saw that First Energy is willing to pay $6 million a year for the naming rights to a sports stadium in Cleveland. Not very good timing.
Finally, I would like to address First Energy's top man, Tony Alexander: Please reconsider your position regarding these matters. Sir, being the savvy lawyer you are, surely you can help ALL retirees and not just the ones over the age of 70. Please treat us all equally. Thank you.