Life Insurance reviews and complaints
scam/ not honored life insurance
my mother Juanita pinola has been paying her life insurance for 20 yrs never missed would sometimg pay more the day she died in 2010 sept 19 we sent in her paper work they mailed back her policy was cancled on the 16 on September for 25.000 dollars so I feel this company unfair practice in there violation of the law they should be help accountable, I wrote to depart of insurance in sacramento they sent me to department of texas no one in both places new how to do there job and got know where but I got my paper work still this wrong due of business cause stress
Death Benefits
My son took out an life insurance policy weeks before his untimely death. I discovered the policy while looking through his papers. I then called a Monumental Life and informed the agent of my sons death in 1998. They were too review the claim and send the benefits which included double indemnity. Since I had not heard anything from Monumental Life I called...
Read full review of Life Insurance and 1 commentCheating by Kotak Life Insurance Co
Sir,
I have purchased Kotak Life insurance Policy in Dec 2008.My policy No is [protected].
Min lock period in this policy is 3 Years and i have paid all 3 premium ie.Rs 75000/-.
Now after the locking period is over, i want to surrender my policy but i came to know
that present value of this policy is only Rs 48000/- and i am loosing Rs 27000/- in this policy.
I inquired from customer care then i came to know that my first premium is not paying
by Kotak Life Ins and it will be paid only if i pay all 20 premiums to the Co.
At the time of purchase of this policy Kotak advisor has not told me that after
locking period ie. 3 years, if i want to surrender this policy, i have to loose my first premium.
This is really shocking to me that Co like Kotak Life Ins and their agents are selling policies by
cheating the customers. Advisor of Kotak Life Ins Co are not telling this drawback of policy .
Advisor told me that after 3 years, policy can be surrender at any time and only some nominal charges will be deducted but in actual i am loosing first premium also.This shows that lock period in this policy is 20 years and not 3 years to get my full money. Really how Kotak advisor are misleading to the people and increasing their business by cheating the customer.
I have requested to Kotak Ins Co so many times but no action by co till date.It is requested to resolve my grievances and direct to Kotak Life Ins Co to release my first premium also at the time of surrender of this policy as told by Kotak agent at the time of selling this policy.
Thanking You
Dear Rajeev,
We would like to inform you that, we have sent detailed mail on your registered email ID:rkve8@yahoo.co.in. For any assistance please write us on clientservicedesk@kotak.com ID.
Regards,
Kotak Support Team
Life Insurance
Prudential sent forms to change beneficiary to someone other than the owner of the policy. Prudential says its their policy to restrict what the own of the policy can do with if an ex-wife calls and claims she's supposs to be the beneficiary. Not court order naming that policy is required.
Without the owner's knowledge Prudential communicated with the owner's ex-wife 5 years after the divorce. Upon her request they sent her forms to change the beneficiary. The owner of the policy was never informed. She sent them a letter of making a claim that she was to be the beneficary on this policy and never sent a court document naming the policy. Again, Prudential did not inform the owner of the policy, just sent him a letter stating he was restricted until the divorce agreement was satisfied. But it won't satisfy it because she lied. Prudential refuses to provide forms to change the beneficiary on to the owner but freely provided them to the non policy owner. I have documentary proof including but not limited to Prudentials letter to the non policy owner noting they provided the forms to change beneficiary.
The complaint has been investigated and resolved to the customer’s satisfaction.
FRAUD, SCAM AND LIES
primerica is a fraud and scam company...i worked with them about a
month, waste of gas, waste of time never got payed not one penny, we
are in a recession i dont have time for this, i quit a month later as
well as i cancelled that insurance they made me get, now its been about
two or three months and im still trying to cancel that dam insurance
that is still taking my money out the bank, i went personally to quit
that so called job and cancel that insurance, i felt humiliated by
josceline green soon to be RVP she humiliated friends of mine because
they would not get her insurance, this people are just thirst for money
they have no life but in that fraud buisiness ###ing ignorant people
and ill make sure this will be hear out and im ready to sue
Premium
Subject: Universal Life Planned Premium Policy# U7246109
When I first started this policy with Travelers in 1991 and is now with Metlife I was only paying $75 per quarter. Over the last few years the premium has escalated to $77 amonth and today I received a notice that I owe $451.56 by June 22, 2009. In the past year I have called Metlife several times for an explanation with no results. I also contacted a Metlife Representative here in Raleigh, NC by the name of John H. Fick, 2501 Blue Ridge Rd, ste 300, Raleigh, NC 27607, Telephone # [protected] ext 114, cell# [protected]. His response was that he couldn't understand the policy and didn't know why my premiums were so much, but he could sell me another plan and would lose all the money I have paid in since 1991. I have been talking to him since last fall with no results as of yet. I am on a fixed income and cannot afford this outrageous premiums. No body seems to be able to help me fro Metlife. I see advertisements all the time for life insureance for alot less. I don't understand why nobody from Metlife seems to know anything about this and is unwilling to help me figure it out. Is there anything you can do to be of assistance. It would be greatly appreciated.
Very Truly Yours,
Robert L Fuhrman
804 Silver Linden Lane
Wake Forest, NC 27587
Phone: [protected]
The complaint has been investigated and resolved to the customer’s satisfaction.
John Fick Currently maintains an excellent record on all of his licenses and is curently an active producer.
The comments posted regarding allegations of John losing his license are totally false, despicable and defamatory statements.
The comments were written under a false name "Jonas Sweats". The comments reflect an untruthful, bitter and dishonest individual. The comments are an outright falsehood and a declamatory statements of fact.
This may result in legal action.
Please be sure to ask for a manager whenever anything suspicious happens to your policies.
John Fick has lost his license for misrepresentation, and falsifying records.
John Fick is the best Financial Servies Rep. in N.C. MetLife is a top notch company .
John has helped many people reach financial goals and always has excellent ideas and advice.
Mr. Fuhrman should find out who sold him that policy initially in 1990.
I also was informed Mr. Fuhrman purchased a whole life policy with Metlife recently and the Representative was John Fick and he is now very happy with it.
Term life insurance
I aquired a term Life policy from American National Insurance Co. in 1989 and was told at that time I could take a lone against it at any time. So in the ninety's I made a lone of $350.00. I paid $40.00 a month for 20 year not knowing anything was wrong. Knew I accrued interest but always thought it would be deducted at time of death. Wrong... My policy was canciled on [protected] after taking a payment from my account that day. 20 years of paying and I have nothing. They said It went into interest overload and would take over $7000.00 to catch it up. What's with this. Confussed in Texas
The complaint has been investigated and resolved to the customer’s satisfaction.
MY NAME IS ALTAF R MADHARA ECODE IS [protected] GROUP -ADAG COMPANY-RHRS BUSINESS - RCSPL DATE OF JOINING 05/07/2008 DATE OF RESIGN 08/12/2088 I SENT MY COMPLETE PF FORM TO COMPANY ADDRESS PROVIDE IN JOINING LETTER BUT TILL DATE I M NOT RECEIVED ANY STATUS ABOUT MY PF FUND AND FORM STATUS. I ALREADY TALK WITH HR PERSON ON LAST 8 MONTH AGO NOW SAME NO IS NOT FOR HR AT THIS TIME AND NOT GET ANY PROPER RESPONSE FROM EMPLOYER.KINDLY GUIDE ABOUT PROCESS FOR CLAIMING AMOUNT OF CONTECT NO OF THE COMPANY HR PERSON. ASAP..
THe medical team that comes to your home to get blood samples. Their main objective is to make as much money as possible. They use the same needles over and over. Here's what they do: They will unwrap in front of your very eyes what appears to be a new needle in new factory packaging. THey buy a kit which contains new plastic and a heat seal / crimp machine. They do sanitize the used needle, but they reuse it buy putting the used needle in the plastic packaging then they take the open end and heat seal & crimp it. Now it appears to be new & unused again. I hve interviewed many. Matrix direct and Select Quote are the biggest "Cheat Crooks" on the planet! They all will look you right direct in the eyes and lie to you to make a profit!
Mechenanic Man, save yourself some hassle from having to talk to these kool-aid drinkers. I had PFS, its a joke and a pyramid scheme, WFG and HBW are similar but with multiple companies.
I bought my life insurance without an agent visit, in-fact I didn't even have to talk to an agent to get the best rate. I used YourLifeSolution.com
Tell me how WFG makes more sense than PFS or HBW.
you need to talk to someone from WORLD FINANCIAL GROUP. they make more sense than PRIMERICA AND HBW. put your money somewhere safe and with a high rate of return with no risk.
Sean, I was a RVP with Primerica until I realized that PFS is limited in what they do for the client in that all they can sell is what Primerica Life Insurance Co. offers. These people are locked in with Primerica with a captive contract. In other words, they can only sell for that company. On the other hand at Helping Build Wealth (HBW Insurance & Financial Services, Inc.), we are a term company much like PFS, but instead of marketing one company's product, we market term from a host of term life insurance companies, that by the way are far, far more competitive in price to the consumer. The compensatio is greatly enhanced with these folks as well. I can definitely prove this to you if you want to shoot me an email. If you are with Primerica, don't be like the frog in the pan of water who was boiled to death.
Whoever your insurance guy told you wrong information. If you had term life insurance, you would have pure insurance, just as car insurance, health insurance, etc. However, what the salesperson might have said was that if you have whole life insurance or universal life insurance, that is when you can borrow against it. whole life has an insurance aspect as well as an investment aspect known as cash value. i personally hate this concept because whole life costs so much more. the company that i would suggest to everyone is Primerica Financial Services. they teach you how to manage your finances as well as offer very reasonable services. they only offer term life insurance, which makes sense. instead of paying so much more in premiums for whole life, take that money and invest it in a mutual fund or ira yielding high %. the salesperson scammed you and i have no idea who you wrote those checks out to. i figure the 40 a month probably went into the hands of some evil whole life insurance salesperson. sorry to hear about your misfortune. i myself have some, being scammed out of 10, 000 on a new car.. !
American Income Life
What a scam! I traveled 204.06 miles, spending 40.00 dollars on gas and 10.00 dollars worth of tolls, for an interview as an Entry Level manager, or so I thought. However when I got there, there were 30 people for an interview at the same time{10:00am} We then gave them our resumes and were told to have a seat, after 45mins., about ten managers came out and started calling names{not even in the order we came in}They spoke to us for 2mins., and then took us downstairs for a 2hr.presentation about how much money that could be made by selling life insurance. I do not want to sell life insurance I need a job and for American Income to do this to so many people that need jobs and don't have the money to travel that far for a BOGUS interview is totally unprofessional. So if they callyou for an interview do not go! It is truely a scam!
reinstatement
have been paying life insurance premium for me and my husband since 1991. In early 2007, I noticed that my premiums had decreased from my bank account since I pay my premiums thru bank deduction. When I called Farmers, they told me that they have mailed a notification to my husband stating that his premium had increased and to add more money in the bank to cover the premium. I told them that we never received the letter and it would not have been a problem adding more money because it was not significant. Farmers stated that they mailed it to the address we have on file but it got returned to them. I told Farmers that we have been receiving letters in our home and I didn't understand how it got returned to them. Nevertheless, they should have done due diligence more and called the insurance agent they assigned the policy to. since my original agent resigned from Farmers -we were not assigned to a new agent. I have been dealing with this agent for a while so they should have told the agent to get hold of me.
As a result, they canceled my husband's policy. So we tried to reinstate it but since my husband is retired in the Philippines, he needs to do a blood test and urine test here and he is not here so we cannot reinstate the policy. That really SUCKS!
Business Practice
I opted for a Term Life Insurance Policy from AIG through SelectQuote. One the appointment was made for a exam, I never heard from the SelectQuote Agent-Shaun Croper- again.
After a month and a half I filed a complaint with SelectQuote customer service and found out that the exam subcontracted company lost part of my medical and personal information in an automobile accident. Neither company has offered credit score monitoring for fraud or ID Theft. The exam customer has never contacted me to report the loss.
Furthermore, SelectQuote sent me another contract. This contract had a stipulation that the policy was "replacement coverage" and asks for me to assigned my current policy with another company to them. I refused!
I do not want AIG billing my estate for a life insurance payout of one policy to cover their obligation for a payout of their policy.
I PURCHASED LIFE INSURANCE WITH THIS COMPANY NOW AFTER 1 1/2 YEARS OF HAVING THIS POLICY THEY CANCELLED THE POLICY.
THEY SAID I LIED ON THE APPLICATION. TO THE BEST OF MY KNOWLEDGE I DID NOT LIE. I WANT MY POLICY REINSTATED. THEY DID A MEDICAL EXAM AND HAD ALL THE DR.RECORDS IN THE BEGINNING. I FEEL THIS SHOULD BE REINSTATED ASAP. I DID NOT BUY A POLICY AND ALWAYS PAY ON TIME FOR IT TO BE CANCELLED THEY SHOULD NOT HAVE ACCEPTED ME IN THE BEGINNING IF THATS THE CASE. THANK YOU FOR LOOKING INTO THIS. DIANA SCHAKEL [protected]. THE POLICY NUMBER IS AD20171739
I have had a small universal life insurance policy with what was General American and is now Met Life for over 20 years. Now that I have questions about it, they answer in vague terms and when I have further questions, it takes six weeks to get a response. For over four months, I've been trying to get timely answers. The Texas Dept of Insurance was initially helpful, but they don't follow up when promised delivery dates come and go. I recommend never using this company when considering an insurance purchase. Their customer service is non-existent.
In May2009 i've recieved a call from RBS bank employee regarding LIFE INSURANCE POLICY on behalf my credit card.He has advised me to take this facilities .Now Bank is saying that i have to pay my premium for my life policy but they didnt send me any documents regarding this Life policy.
Why they are doing un necessary delay to provide me documentation/agreement for this life policy ?
Fahim Ahmed
[protected]
DUBAI-UAE
This is post-underwriting and it is illegal. They have done the same thing to others. File complaints with the Better Business Bureau and the Insurance Commissioner in your state.
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I received a spam type email from them asking me if I wanted to sell life insurance. I wrote back to them telling them to get lost. I got a series of nasty emails back from them. Sadly when I do need life insurance, I know to avoid them.
i had sent a cheque regarding the premium of policy number ED855476799IN . the cheque has been cleared by you even then you have sent a letter that my policy will be lapsed. earlier also i have sent the request but your response towards it was neutral