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CB Investment, Insurance and Financial Midland National 1 Sammons Plaza, Sioux Falls, SD, 57193, US
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Midland National

1 Sammons Plaza, Sioux Falls, SD, 57193, US
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Midland National - they tried to cancel the insurance, because of my heath condition

People, avoid the company Midland National Life, because they don’t like people, who have problems with health. I got the insurance, but they tried to cancel it couple of times, because I have serious problems with my heath. I got different excuses, promises and other nonsense, but I haven’t agreed to their speeches and offers. However, it was very unpleasant and completely dishonest from their side.

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6:51 pm EDT

Midland National - does midland national life's insurance rating reflect their legal problems?

Midland National Life Insurance Company is notorious in the life insurance industry as a serial defendant in class action lawsuits brought by seniors and other consumers that have alleged Midland National’s sales practices to be unethical.

Midland National’s business model has resulted in regulatory actions, Attorney General investigations, and class action lawsuits by policy holders in multiple states. The most recent incident was in February this year when Midland National agreed to pay a $1.3 million fine as part of a settlement with the California Department of Insurance and further agreed to make reforms to its business practices after a probe showed Midland National was allegedly misleading senior citizens when selling annuities deemed inappropriate.

This fine may have been a result of Midland National making a $31 million dollar payment last year as part of a settlement of a federal class action lawsuit in California that had alleged that Midland National had used deceptive sales practices in selling their products, including annuities to seniors. Sammons, Midland National, and its sister company North American for Life and Health have paid settlements in many states over the past ten years as a result of their sales practices and the adverse effect it has had on the senior citizens that have purchased them.

So far, Midland National has managed to avoid serious damage to their rating and reputation by including non-disclosure agreements in settlements of the litigation brought against them. This tactic has allowed Midland National to prevent consumers and their own agents and employees from sharing any knowledge they may have of criminal activity with law enforcement agencies.

To be fair, a life insurance company being sued is not unusual; however, a life insurance company being sued by thousands of its policy holders across the country is a red flag. Being sued by a state’s chief law enforcement officer is so unusual it constitutes a flashing neon sign behind the red flag. Being sued under provisions of the RICO (Racketeer Influenced and Corrupt Organizations) Act as they have been on several occasions adds bells and sirens to the neon sign and red flag. To be sued on multiple occasions over an almost thirty year period for various and differing schemes would seem to be a criminal indictment waiting to happen.

Midland National has brought much of this on themselves. As the policy holder complaints began to accumulate Midland National had the opportunity to resolve them and avoid litigation. They chose not to. That action constituted a clear policy of contempt for their customers, and also for their agents whom are faced with recommending a company that places profits ahead of those policy holders that trusted them.

While Midland National Life’s unethical sales practices and legal problems have not yet substantially affected their rating, it is something for consumers and life insurance agents to watch.

To learn more about Midland National Life Google "Midland National Life" ratings or "Midland National Life" reputation. To review Midland National Life’s legal problems in an easy to read format visit www.MidlandNationalLifeUpdate.se.

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8:46 pm EDT
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Midland National - life insurance

I want everyone out there who is shopping for life insurance to know to stay away from Midland National Life of Sioux Falls, SD!

They are involved in unfair sales practices, in particular targeting the elderly.

Lawsuits have been filed in several states against Midland National Life! Minnesota, California, Rhode Island, Iowa and Hawaii have all filed suits related to Midland's sales practices. This has got to be an indicator of some sort!

For more information check out these links:

http://www.midland-national-life-review.com/Home_Page.php

http://www.hbsslaw.com/Midland_Life_Insurance_lawsuit.htm

http://www.insurancejournal.com/news/midwest/2010/04/22/109213.htm

http://www.ag.state.mn.us/consumer/pressrelease/071129midlandlife.asp

http://origin-minnesota.publicradio.org/display/web/2007/11/29/annuitysuit/

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MNL Update
Sioux Falls, US
Mar 26, 2015 8:49 am EDT
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If you want to learn more about Midland National Life just Google "Midland National Life WOMEN" or "Midland National Life THREATS", or you can visit www.MidlandNationalLifeUpdate.se

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Midland National Life Protest
, US
Nov 22, 2013 2:00 pm EST

Please help support our protest against Midland National Life's threats of violence against women and children.

Please visit our Facebook Page www.facebook.com/pages/Midland-National-Life-Protest/646776562040216 and “Like” us. We are protesting the use of violence and intimidation by an insurance company that is trying to cover up their bad behavior.

As you read this one woman is looking out her window all day long to see if the armed goons hired by this company are still watching her home. Her boyfriend has started a hunger strike to draw attention to this issue and try to protect her.

Our Facebook Page supports our website www.MidlandNationalLifeProtest.se which we developed to draw attention to corporate violence and the tactics of Midland National Life Insurance Company of South Dakota. We have made an open offer to close down our site IF Midland National would make one simple sworn statement that they have never threatened this family. Their refusal tells us everything we need to know.

Please support our cause with a “Like” at www.facebook.com/pages/Midland-National-Life-Protest/646776562040216 and send a request to your contacts and friends to do the same.

Let’s fight violence with social awareness.

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Vicki Boling
Townsend, US
Feb 12, 2013 1:40 pm EST

My husband had a life insurance policy with Midland National for over 20 years. He passed away on Nov. 3 after a long illness. During the last few weeks of his life thing were very stressful and I inadvertently missed a payment. I did not discover this lapse until the day after the reinstatement deadline.
We never missed a payment in over twenty years.
Finally, after three months, I receive a call saying the reinstatement was denied. Cold doesn't even come close to describing this agent (Jamie).
I now have to hire an attorney to get what is mine to begin with! I am devastated and so disappointed that scam companies such as Midland Life exist.

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Iowa advisor
Cedar Rapids, US
Mar 05, 2011 5:06 pm EST

Eric Castaneira is the creator of all the complaints against Midland National Life. Fact - Eric Castaneira drove to Sioux Falls SD in 1991 with a loaded hand gun and held the then CFO of the company hostage for 11 hours. If you are considering purchasing products from Midland you should check out solid third party sources like AM Best, Standard and Poors, etc. You will find a very strong privately held company that shined in the latest financial crises. Also checkout Sammons Enterpises which is the parent company. I don't believe they come any better. But you do the research on your own, don't let one disgruntled (now convicted Felon) person sway you.

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Sad and Disgusted
Sioux Falls, US
Jun 19, 2010 8:51 am EDT
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Is that the same Eric Castaneira whose Family was threatened by Midland for blowing the whistle on them? The lawsuit he filed (Castaneira v. Midland National Life Insurance, et al; Civ #10-4039, United States District Court, Southern District of South Dakota) is posted at www.midland-national-life-review.com. Is this the same Castaneira that Midland signed a settlement agreement with and then broke their promise?

Here are a few excerpts from it:

Despite all of Midland’s claims of improper behavior on Castaneira’s part they offered to reinstate Castaneira’s contract and return all of the commissions they had withheld if he would drop his lawsuit against them. Castaneira refused to consider this until Midland agreed to objectively review and investigate their sales practices.

In mid August, 1991 Castaneira was made aware of a telephone call between two individuals that he believed to be Wilson and William Rigsbee (hereinafter “Rigsbee”), then president and CEO of Midland, in which the subject of harming Castaneira or Castaneira’s family was raised to prevent Castaneira from causing any further trouble.

In 1997 the IRS filed a tax lien against Castaneira for income on commissions he was supposed to be receiving from Midland; however, Castaneira had not received a check from them in over seven years.

An attorney contacted Midland on Castaneira’s behalf for an explanation and Midland, an insurance company that is required by law to know where every dollar is at every moment, took 42 days to respond that they had approximately $50, 000 in commissions they had been holding for Castaneira. They also could not explain why they had been served an IRS lien on any money in their possession over one year earlier but had not disclosed the money to the IRS in violation of the law.

In mid summer, 2003 Castaneira was made aware of a recording of a telephone call in which individuals affiliated with Midland and their private investigators openly discussed their frustration with Ligtenberg’s inability to “get the job done” and whether Castaneira “should be dealt with”. The tone of the conversation made it very clear to Castaneira that the context of the conversation was a discussion of serious harm or death, and he took preventive measures for his security.

In November, 2003 Midland again became serious about reaching a settlement, and in December Castaneira signed a settlement agreement titled “Mutual Release” (hereinafter “settlement”) with Midland that provided for structured payments of over $166, 000. As part of the agreement Midland agreed to advocate Castaneira’s ability to leave South Dakota and later qualified the extent of their efforts as “whatever was necessary”.

Midland insisted on a “non disclosure” clause in the settlement that would prevent Castaneira from making public Midland’s payment and the fact that the settlement included the following language “There have been…disputes and differences... Castaneira and Midland have now agreed in consideration of the terms hereinafter set forth in this agreement, to settle all disputes and differences between them."

Yep, that’s the kind of life insurance company I would defend!

Has anyone seen ONE WORD anywhere on the internet of Midland National denying any of these complaints or allegations? With as much damage as this story is causing them, and with the army of lawyers they have hired, why haven’t they gone to court to stop all of these complaints if it they weren’t true?

While you were ranting about Castaneira being a “do gooder” you failed to mention that Midland has been sued by thousands of its customers in at least six different states for ripping them off. The Minnesota Attorney General sued them for the same thing.

Midland National agents have been given the opportunity to make this public pledge:

ETHICS PLEDGE

I will not promote, endorse, or sell any life insurance, annuity, or investment products for, or on behalf of, Midland National Life Insurance Company, North American Company for Life and Health, Midland Annuity, or Sammons Financial Group until those companies agree to resolve in a fair and equitable manor all outstanding policy and contractual litigation and disputes with their current and former policy holders and agents.

How can any HONEST life insurance agent have a problem with that?

Perhaps you should spend less time complaining about people that have made an extraordinary personal sacrifice in warning consumers and spend more time becoming an ethical insurance agent.

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nakedtruth
New York, US
Jun 19, 2010 12:20 am EDT

All of these Midland complaints should have one name on them: Eric Castaneira.

I'm writing just to offset this troll above who puts a negative review of Midland on every site he can get his grubby hands on. Now that Eric Castaneira is out of prison for holding the Midland VP hostage at gunpoint, and he has unsuccessfully tried to sue Midland, so now he's moved on to slander and libel. This bottom feeder is actually blacklisting Midland agents by name on his website.

Just search Eric Castaneira and you'll see.

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when will it stop
sioux falls, US
May 13, 2010 3:27 pm EDT
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mnlife should be under the three strikes your out rule, how many times will they be aloud to miss use the system? our old people should not be allowed to be abused by mnlife

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6:47 pm EDT
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Midland National - don't trust them!

Don’t do business with Midland National Life! Their history with their insurance sales practices is VERY worrisome. Midland National Life Insurance has had lawsuits filed against them in several states. You can see these lawsuits at: http://www.midland-national-life-review.com.

The Minnesota State Attorney General’s Office filed a lawsuit against Midland National Life, Sioux Falls, South Dakota in 2007, alleging the company was making inappropriate long-term annuity sales to seniors. There have been similar class action lawsuits filed against them in California, Iowa, Hawaii, and Rhode Island. They have been fined in Arizona twice as well.

THINK and do some research before giving this company any of your money. If your insurance agent tries to write an application for insurance coverage or annuities...Make sure it is NOT a Midland National Life product!

It seems that Midland National Life is like several of the other big companies in the news today…known to take your money and completely disrespect their customers (and in these cases blatantly ripping people off!).

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nakedtruth
New York, US
Jul 14, 2010 11:49 pm EDT

dogslife6611, Sad and Disgusted, Insurance_Guy: all the same person, a deranged killer. But nobody should trust a Midland National Life Insurance agent (I love how you assume I'm an agent for them)? LOL!

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Midland Review
Sioux Falls, US
Jul 14, 2010 11:35 pm EDT
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The mind of a Midland National Life Insurance Company agent.

No wonder nobody trusts them.

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nakedtruth
New York, US
Jul 11, 2010 11:33 pm EDT

The Minnesota attorney general was a crackpot who tried to sue every annuity sales company in the state, and LOST.

Every reputable financial institution (including banks) have had lawsuits filed against them. It's going to happen. The question is, has Midland National had an abnormally high rate of lawsuits? The answer is NO. Look up their complaint indices with the insurance commission. Ask thousands of REAL customers and REAL agents and they will tell you a different story than Eric Castaneira's delusional tale.

Eric is the main instigator against Midland who spends ALL of his time on the internet slandering Midland agents because he cannot win a lawsuit.

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Sad and Disgusted
Sioux Falls, US
Jun 19, 2010 8:57 am EDT
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Is that the same Eric Castaneira whose Family was threatened by Midland for blowing the whistle on them? The lawsuit he filed (Castaneira v. Midland National Life Insurance, et al; Civ #10-4039, United States District Court, Southern District of South Dakota) is posted at www.midland-national-life-review.com. Is this the same Castaneira that Midland signed a settlement agreement with and then broke their promise?

Here are a few excerpts from it:

Despite all of Midland’s claims of improper behavior on Castaneira’s part they offered to reinstate Castaneira’s contract and return all of the commissions they had withheld if he would drop his lawsuit against them. Castaneira refused to consider this until Midland agreed to objectively review and investigate their sales practices.

In mid August, 1991 Castaneira was made aware of a telephone call between two individuals that he believed to be Wilson and William Rigsbee (hereinafter “Rigsbee”), then president and CEO of Midland, in which the subject of harming Castaneira or Castaneira’s family was raised to prevent Castaneira from causing any further trouble.

In 1997 the IRS filed a tax lien against Castaneira for income on commissions he was supposed to be receiving from Midland; however, Castaneira had not received a check from them in over seven years.

An attorney contacted Midland on Castaneira’s behalf for an explanation and Midland, an insurance company that is required by law to know where every dollar is at every moment, took 42 days to respond that they had approximately $50, 000 in commissions they had been holding for Castaneira. They also could not explain why they had been served an IRS lien on any money in their possession over one year earlier but had not disclosed the money to the IRS in violation of the law.

In mid summer, 2003 Castaneira was made aware of a recording of a telephone call in which individuals affiliated with Midland and their private investigators openly discussed their frustration with Ligtenberg’s inability to “get the job done” and whether Castaneira “should be dealt with”. The tone of the conversation made it very clear to Castaneira that the context of the conversation was a discussion of serious harm or death, and he took preventive measures for his security.

In November, 2003 Midland again became serious about reaching a settlement, and in December Castaneira signed a settlement agreement titled “Mutual Release” (hereinafter “settlement”) with Midland that provided for structured payments of over $166, 000. As part of the agreement Midland agreed to advocate Castaneira’s ability to leave South Dakota and later qualified the extent of their efforts as “whatever was necessary”.

Midland insisted on a “non disclosure” clause in the settlement that would prevent Castaneira from making public Midland’s payment and the fact that the settlement included the following language “There have been…disputes and differences... Castaneira and Midland have now agreed in consideration of the terms hereinafter set forth in this agreement, to settle all disputes and differences between them."

Yep, that’s the kind of life insurance company I would defend!

Has anyone seen ONE WORD anywhere on the internet of Midland National denying any of these complaints or allegations? With as much damage as this story is causing them, and with the army of lawyers they have hired, why haven’t they gone to court to stop all of these complaints if it they weren’t true?

While you were ranting about Castaneira being a “do gooder” you failed to mention that Midland has been sued by thousands of its customers in at least six different states for ripping them off. The Minnesota Attorney General sued them for the same thing.

Midland National agents have been given the opportunity to make this public pledge:

ETHICS PLEDGE

I will not promote, endorse, or sell any life insurance, annuity, or investment products for, or on behalf of, Midland National Life Insurance Company, North American Company for Life and Health, Midland Annuity, or Sammons Financial Group until those companies agree to resolve in a fair and equitable manor all outstanding policy and contractual litigation and disputes with their current and former policy holders and agents.

How can any HONEST life insurance agent have a problem with that?

Perhaps you should spend less time complaining about people that have made an extraordinary personal sacrifice in warning consumers and spend more time becoming an ethical insurance agent.

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nakedtruth
New York, US
Jun 19, 2010 12:30 am EDT

All of these Midland complaints should have one name on them: Eric Castaneira.

I'm writing just to offset this troll above who puts a negative review of Midland on every site he can get his grubby hands on. Now that Eric Castaneira is out of prison for holding the Midland VP hostage at gunpoint, and he has unsuccessfully tried to sue Midland, so now he's moved on to slander and libel. This bottom feeder is actually blacklisting Midland agents by name on his website.

Just search Eric Castaneira and you'll see.

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9:51 pm EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Midland National - negative sales practices

I want everyone to be aware of the negative information I recently discovered relating to Midland National Life of Sioux Falls, SD. It seems they have been involved in unscrupulous sales practices.

There have been several lawsuits filed against Midland National Life in a number of states: California, Iowa, Hawaii, Rhode Island and Minnesota.

They have also been fined by the state of Arizona on more than one occasion for their sales practices.

I would never do business with Midland National Life.

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nakedtruth
New York, US
Jul 14, 2010 11:58 pm EDT

Blanket statements like "nobody trusts them" don't change the fact that it is you, and you alone ("John Ski/Sad and Disgusted/Insurance_Guy, " a.k.a. Eric Castaneira) who have an axe to grind. "Nobody" as in all the fake identities on complaintsboard? Maybe an administrator will figure out you are a spammer and a troll and will delete all your complaints.

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Midland Review
Sioux Falls, US
Jul 14, 2010 11:39 pm EDT
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The mind of a Midland National Life Insurance Company agent.

No wonder nobody trusts them.

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nakedtruth
New York, US
Jul 14, 2010 8:31 pm EDT

10 negative comments about Midland National. One legitimate human being. The other nine are all posted by Eric Castaneira, who poses under a different pseudonym each time. Maybe you can throw off the complaintsboard folks, Eric, but you can't fight fate. Karma has a way of coming around to bite you in the *ss.

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Sad and Disgusted
Sioux Falls, US
Jun 19, 2010 8:52 am EDT
Verified customer This comment was posted by a verified customer. Learn more

Is that the same Eric Castaneira whose Family was threatened by Midland for blowing the whistle on them? The lawsuit he filed (Castaneira v. Midland National Life Insurance, et al; Civ #10-4039, United States District Court, Southern District of South Dakota) is posted at www.midland-national-life-review.com. Is this the same Castaneira that Midland signed a settlement agreement with and then broke their promise?

Here are a few excerpts from it:

Despite all of Midland’s claims of improper behavior on Castaneira’s part they offered to reinstate Castaneira’s contract and return all of the commissions they had withheld if he would drop his lawsuit against them. Castaneira refused to consider this until Midland agreed to objectively review and investigate their sales practices.

In mid August, 1991 Castaneira was made aware of a telephone call between two individuals that he believed to be Wilson and William Rigsbee (hereinafter “Rigsbee”), then president and CEO of Midland, in which the subject of harming Castaneira or Castaneira’s family was raised to prevent Castaneira from causing any further trouble.

In 1997 the IRS filed a tax lien against Castaneira for income on commissions he was supposed to be receiving from Midland; however, Castaneira had not received a check from them in over seven years.

An attorney contacted Midland on Castaneira’s behalf for an explanation and Midland, an insurance company that is required by law to know where every dollar is at every moment, took 42 days to respond that they had approximately $50, 000 in commissions they had been holding for Castaneira. They also could not explain why they had been served an IRS lien on any money in their possession over one year earlier but had not disclosed the money to the IRS in violation of the law.

In mid summer, 2003 Castaneira was made aware of a recording of a telephone call in which individuals affiliated with Midland and their private investigators openly discussed their frustration with Ligtenberg’s inability to “get the job done” and whether Castaneira “should be dealt with”. The tone of the conversation made it very clear to Castaneira that the context of the conversation was a discussion of serious harm or death, and he took preventive measures for his security.

In November, 2003 Midland again became serious about reaching a settlement, and in December Castaneira signed a settlement agreement titled “Mutual Release” (hereinafter “settlement”) with Midland that provided for structured payments of over $166, 000. As part of the agreement Midland agreed to advocate Castaneira’s ability to leave South Dakota and later qualified the extent of their efforts as “whatever was necessary”.

Midland insisted on a “non disclosure” clause in the settlement that would prevent Castaneira from making public Midland’s payment and the fact that the settlement included the following language “There have been…disputes and differences... Castaneira and Midland have now agreed in consideration of the terms hereinafter set forth in this agreement, to settle all disputes and differences between them."

Yep, that’s the kind of life insurance company I would defend!

Has anyone seen ONE WORD anywhere on the internet of Midland National denying any of these complaints or allegations? With as much damage as this story is causing them, and with the army of lawyers they have hired, why haven’t they gone to court to stop all of these complaints if it they weren’t true?

While you were ranting about Castaneira being a “do gooder” you failed to mention that Midland has been sued by thousands of its customers in at least six different states for ripping them off. The Minnesota Attorney General sued them for the same thing.

Midland National agents have been given the opportunity to make this public pledge:

ETHICS PLEDGE

I will not promote, endorse, or sell any life insurance, annuity, or investment products for, or on behalf of, Midland National Life Insurance Company, North American Company for Life and Health, Midland Annuity, or Sammons Financial Group until those companies agree to resolve in a fair and equitable manor all outstanding policy and contractual litigation and disputes with their current and former policy holders and agents.

How can any HONEST life insurance agent have a problem with that?

Perhaps you should spend less time complaining about people that have made an extraordinary personal sacrifice in warning consumers and spend more time becoming an ethical insurance agent.

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nakedtruth
New York, US
Jun 19, 2010 12:31 am EDT

All of these Midland complaints should have one name on them: Eric Castaneira.

I'm writing just to offset this troll above who puts a negative review of Midland on every site he can get his grubby hands on. Now that Eric Castaneira is out of prison for holding the Midland VP hostage at gunpoint, and he has unsuccessfully tried to sue Midland, so now he's moved on to slander and libel. This bottom feeder is actually blacklisting Midland agents by name on his website.

Just search Eric Castaneira and you'll see.

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