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Won't return phone calls or emails and won't get us the money owed to us
Won't return phone calls or emails and won't get us the money owed to us. Save yourself the trouble and don't get involved with them.
In my opinion my 75 year old Father was "tricked" in to investing $50,000 in Reliant Life Shares policies
In my opinion my 75 year old Father was "tricked" in to investing $50,000 in Reliant Life Shares policies. He invested in 2016 at the age of 75 and eventually all the policies required premiums equal to about $6000 a year or 12% of the total investment. He passed *** in 2020. None of the policies have matured. My Dad was taken advantage of by Reliant Life Shares. Why would a 75 year old person invest in life insurance policies that cover people that are his age?
Same thing - lost A LOT of money. I'm sorry that you did, too.
Won't return phone calls or emails and won't get us the money owed to us. Save yourself the trouble and don't get involved with them.
On March 10, I invested $25,000 in a Life Settlement with Reliant Life Shares and got a maturity 4.04 years later on March 25. My $25,000 matured into $50,466.66 which resulted in a rate of return of 101%, and an Annual Percentage Yield (APY) of 25.19%. I would highly recommend this investment to anyone. This far outperformed any investment I have ever made. I am convinced life settlements are the safest and most profitable investment on the market today.
On March 10, I invested $25,000 in a Life Settlement with Reliant Life Shares and got a maturity 4.04 years later on March 25
On March 10, I invested $25,000 in a Life Settlement with Reliant Life Shares and got a maturity 4.04 years later on March 25. My $25,000 matured into $50,466.66 which resulted in a rate of return of 101%, and an Annual Percentage Yield (APY) of 25.19%. I would highly recommend this investment to anyone. This far outperformed any investment I have ever made. I am convinced life settlements are the safest and most profitable investment on the market today.
When I originally invested with Reliant Life Shares I was told that 97% of their policies mature on time so I invested $300k with them however I haven't collected a penny yet but rather I have been paying additional premium year after year
I have invested in many many things over the years. I like tangible assets, but understand investment theory. I wish I was introduced to this asset long before I actually invested in 2012. While I was aware of the risk, I was hoping it would not happen to me. When I received a pay-in request for a policy I was told was a good policy, I was surprised and disappointed to say the least. When I called the agent that went over the investment strategy with me and told him my concerns, he encouraged me to make the payment and trust the process. I thought I was throwing good money after bad, but the math showed much differently. I made the payment, and when I received my pay out the next year, I was hooked (even with that payment, I still averaged better than 16% annual gain). Then another policy in my portfolio of 12 went 2 years long. That pay in was frustrating, but again, I knew about it going in, and I had a pretty good idea of what it would cost, but again, I was disappointed to have to make a pay in. On that policy I made only 7% annually when it matured, but still better than an annuity I was locked into. The reason for this delayed Yelp review is that I wanted to see a reasonable sampling of policies before I react. I am diversified over 12 policies, and now 5 have paid out. 2 went long, 1 went on time, and I recently found out that it is not always the health challenges that the former policy holders succumb to. I have had early 2 payouts and they were both an average annual return of better than 20%. I have recommended this to people at my social groups, church, and family members. I really cant say enogh good things about this strategy, and would recommend you ask all the questions up front. I notice that some of the reviews are negative, but none of them say they have lost any money. -
Replied
My family has our life savings invested into this shady business
My family has our life savings invested into this shady business. They will not return our phone calls and will not return our emails. Six emails and seven calls have been left over the course of a month and not a single person has responded. If you attempt to phone their business directly, their voice mailbox is full. Try it yourself.
Zero stars. Shady, unresponsive, and not only have we not earned any gains on our investment, we fear all of our money is now gone. Run far, far away. There are other investments with less risk that will earn you far better returns without risk of losing all your initial capital.
Conmen and criminals. Steer clear.
The complaint has been investigated and resolved to the customer's satisfaction.
We have reviewed your complaint, and must observe at the outset that the language that you utilize is unfair and quite frankly, defamatory to the company and its employees who work hard every day to serve its customers. We politely request that you withdraw that language. Nonetheless, the company strives to meet all its investor's expectations. As you know, the investment holdings are on deposit and managed via the UMB Bank Trustee department (the trustee bank maintains the investments and distributes the benefits upon policy maturity directly to investors), and the polices are serviced by Asset Servicing Group, an international expert firm in this investment area. We have reviewed your positions, and remind you that the policies you are invested in show fixed rates of return of 35%, 42%, 57%, 52%, 71%, 98%, 75%, 66%, and 68%. The initial investment you made will pay you policy benefits of $99,301 upon maturity, an average fixed return of 62% across all your positions. Also, to date, Reliant investors have experienced 7 policy maturities that paid them an average annual percentage yield of 87.16%. This incudes a policy that matured within 2 months. Factoring out that unusually high policy return, the investors still experienced double-digit annual percentage yields of 16.13%. We will be in again to answer any questions.
Replied
Invest $200K in 5 "life shares" and in 5 years you will have no payouts and you will have had to pay an additional $27K just to maintain those
Invest $200K in 5 "life shares" and in 5 years you will have no payouts and you will have had to pay an additional $27K just to maintain those shares. You can't sell them back and you can't recoup your losses. My $200K investment was supposed to return $284K with longevity estimates of between 33 and 59 months. I'm coming up on 60 months with this investment and I have nothing but more money dropping down the rabbit hole! I spoke with a customer service agent named Heather and she admitted that the statements i was receiving were not accurate and were confusing. She couldn't answer my questions and could not tell me why two of my policies were deemed "accreted" but could not be paid. She said she had asked what accreted meant but was given an answer that was so confusing that she couldn't remember what was said. STAY AWAY! THIS IS A SCAM! DON'T TRUST YOUR SALES PERSON! THEY ARE LYING AND WANT TO DECEIVE YOU!
The complaint has been investigated and resolved to the customer's satisfaction.
We have evaluated your complaint, your portfolio positions, and investigated your communications with our representative. While it is clear you have some frustration, the company must correct the record particularly given your commentary regarding the quarterly statements and regarding Heather, who is a valued member at Reliant, and has worked effectively with hundreds of investors. The personal attack is inappropriate and wrong, and I believe you know better, and we ask respectfully, that you withdraw those personal comments. Heather is fully aware of investor statements, and it seems that if there had been more interest on your end in a meaningful discussion than in leveling insults to a highly-educated woman trying to assist you, the call would have been productive, as is the custom with our inter-actions with customers.
Nonetheless, we understand frustration during a time of increasing frustration and uncertainty, and strive to have meaningful and productive relations with all customers and will endeavor to continue to do so with you. Your portfolio consists of 5 positions, and you own policies benefits n the amount of $248,000. These assets are maintained by the trustee at UMB Bank, and serviced by an international firm specializing in policy service and cost optimization. All of us are working *** your behalf. The fixed rates of return on your 5 policy positions are 33%, 36%, 53%, 43% and 45%. Further, Reliant has had 7 recent policy maturities for its investors, and even factoring out the policy with the highest rate of return just to be conservative, Reliant's portfolio has experienced and annualized rate of return of 16.13%.
We do appreciate you reaching out, but in our experience, positive communications yield productive results, and we are committed to doing the same for you moving forward.
Sincerely,
Reliant Life Shares, LLC
I am having the same issue as Doug with this company
I am having the same issue as Doug with this company. After multiple requests for information and invoices for premium calls due, I got one email from ***, the CEO. It was a non-response. No information. When I replied that his response was an "Epic Fail" he called me to yell at me and spent about 15 minutes lying to me. Interestingly, he told me the reason I had not received correspondence from them was because they had my email wrong in the system. This was fascinating considering he had actually just emailed me. There are a list of lies he spun, but the bottom line is that they are in breach of contract for not providing me with timely statements or 90 days notification of premium calls due. I have reported them to the Department of Corporations (which is their governing body). I recommend that every dissatisfied customer do the same. Here is the link to the online form. https://docqnet.dfpi.ca.gov/complaint/
This business is a *** cloaked in legal mumbo jumbo, and a terrible investment
This business is a *** cloaked in legal mumbo jumbo, and a terrible investment. I invested 30 thousand in 2 policies in 2016. I stand to gain $13,500 on these 2 policies when they mature. One life expectance was 2 years and the other was 3 years. When I pay the premiums in April, I will have paid over $10,000 in premiums. I expect to lose money on this investment. It is a one way street after you sign off and pay for your policies. You cannot sell the policies. I was told by Larry Tubler, the agent from Reliant, that I could sell my polices anytime without penalty. This turned out to be a lie. Reliant ususally sends out an investor update 4 times a year. I have not recieved any updates for the past year. I am afraid I will not only lose any returns but will lose my $30,000 investment. Beware investor, there may be companies that sell Life Shares that do not require the payment of premiums. I should have checked that out before being duped into purchasing these policies. I believe the Independent Medical Examiners who do the life expectances for Reliant are overly optimistic, giving investors the sense of a quick payout. The truth may be they just want to continue to get work sent their way. You scratch my back and I will scratch yours.
Replied
When reading the other 1 or low star reviews, It's like I'm ready my experience with this unaccountable shady business
When reading the other 1 or low star reviews, It's like I'm ready my experience with this unaccountable shady business. I invested 85k over 3 years ago spread out in 7 policies and simply wanted to request the premium schedule in January so I could ensure that the premiums are kept up to date and I don't lose my investment. I'm not receiving any letter of premiums due even though it appears they might be due in the policies. I just don't know the amount to pay and initially spoke with *** G. their VP who referred me to an admin person named Jessica. I have emailed her and copied *** on Jan 26, Feb 2, and again Mar 21 requesting some kind of reply / contact so as to determine if and how much premiums I may owe that are due on these policies. Was told that if you don't pay the premiums you lose your total investment. No way to leave a message as their mail boxes are all full. Isn't there a regulatory agency that can investigate this business? I agree with other to stay away from this business as it appears to be some kind of scam. Why won't they service their customers? If they valued us as investors, their actions of 'no service, no communication' wouldn't be an issue, would it? And with their response to the other complaining reviews I would suggest they not attempt to 'scold' me as they did others for verbiage or inappropriate comments being used to describe them as a company and the inaction they bring down on investors that have experienced what I have. If the shoe fits, wear it Reliant. Really, don't go there.
The complaint has been investigated and resolved to the customer's satisfaction.
On behalf of Reliant, we appreciate your concerns and will respond publicly to your publicly posted review. Our preference, and the preference of the vast majority of the thousands of Reliant customers, is to discuss private matters privately. Due to the public consumption of your post, however, we feel we must respond publicly as well, and as follows. The language you use is loaded and unfair to Reliant's employees and misleading to the public. Reliant has been in operation in California since 2011, with thousands of satisfied customers. The customers that have experienced policy maturities with Reliant have averaged an annual rate of return of 16.50%. This rate of return factors out an early maturity realized last year, in order to present a conservative perspective.
Your portfolio consists of 7 polices, with an initial investment amount of $85,000. You own $129,112.50 in policy benefits, professionally held for you by a leading national bank trustee, all funds payable directly to you upon policy maturity, for a fixed rate of return of 52.345%. The rate of return, when expressed in an annual manner, will be impacted by any future premium obligations after premium reserve exhaustion. Your 7 polices have life expectancies of between 43 and 61 months, and 4 have not exhausted premium reserves. We are pleased to announce that the company is closing on a premium finance option for all its investors as well, and that announcement is forthcoming, making Reliant's platform the most comprehensive available. As to your expressed frustration with communications, our system has recently updated and all calls are answered, without exception, and all messages are digitally transcribed and distributed within the organization. If this system rollover caused a disruption for you, we regret that, and will be sure to evaluate that, and encourage you to call us again, as we have tried also to contact you and were given your voicemail. We look forward to appositive relationship and a positive financial performance for you. In all sincerity and with best wishes - Reliant Life Shares, LLC.
I have invested in many many things over the years
I have invested in many many things over the years. I like tangible assets, but understand investment theory. I wish I was introduced to this asset long before I actually invested in 2012. While I was aware of the risk, I was hoping it would not happen to me. When I received a pay-in request for a policy I was told was a good policy, I was surprised and disappointed to say the least. When I called the agent that went over the investment strategy with me and told him my concerns, he encouraged me to make the payment and trust the process. I thought I was throwing good money after bad, but the math showed much differently. I made the payment, and when I received my pay out the next year, I was hooked (even with that payment, I still averaged better than 16% annual gain). Then another policy in my portfolio of 12 went 2 years long. That pay in was frustrating, but again, I knew about it going in, and I had a pretty good idea of what it would cost, but again, I was disappointed to have to make a pay in. On that policy I made only 7% annually when it matured, but still better than an annuity I was locked into. The reason for this delayed Yelp review is that I wanted to see a reasonable sampling of policies before I react. I am diversified over 12 policies, and now 5 have paid out. 2 went long, 1 went on time, and I recently found out that it is not always the health challenges that the former policy holders succumb to. I have had early 2 payouts and they were both an average annual return of better than 20%. I have recommended this to people at my social groups, church, and family members. I really cant say enogh good things about this strategy, and would recommend you ask all the questions up front. I notice that some of the reviews are negative, but none of them say they have lost any money. -
Reliant Life Shares complaints 1
Replied
I am unable to get an official record of extra premiums paid on my investment for tax purposes
I am unable to get an official record of extra premiums paid on my investment for tax purposes. After my investment with Reliant Life Shares matured, and I received my payout I requested an official record of the additional premiums I had paid over the course of the investment. I was promised the information back in early April so I could furnish my financial institution with the records, and the tax reporting would be correct. Because of email exchanges I have been copied in on I know that Reliant staff is still working and providing information and services to clients, I have also been able to call and talk to a receptionist. However they will not return my calls or respond to my emails concerning getting an official record of extra premiums paid. If I am not able to supply my financial institution with the record of premiums paid, or if the record is incorrect, it could have substantial negative tax consequences for me. All I want is for Reliant Life Shares to furnish me with an official copy of the additional premiums I paid.
The complaint has been investigated and resolved to the customer’s satisfaction.
I feel so defrauded. I lost over $100,000 because of their shady tactics. Now they don't even respond to my inquiries. I advise whoever reading this to not give them a penny. There is a HUGE lawsuit against them now. BEWARE.
Is Reliant Life Shares legit?
Reliant Life Shares earns a trustworthiness rating of 67%
Generally safe, but check closely before sharing details.
We found clear and detailed contact information for Reliant Life Shares. The company provides a physical address, phone number, and email, as well as 3 social media accounts. This demonstrates a commitment to customer service and transparency, which is a positive sign for building trust with customers.
By resolving 100% of 1 negative reviews, Reliant Life Shares is demonstrating its dedication to customer satisfaction and effectively addressing customer issues. While there may still be some practical problems that need to be addressed, such as long wait times or unhelpful responses.
Reliant Life Shares has received 2 positive reviews on our site. This is a good sign and indicates a safe and reliable experience for customers who choose to work with the company.
Reliant Life Shares has claimed the domain name for reliantlifeshares.com for a long time, which suggests that the website is established and has a history of being in operation. This is a positive sign, as it indicates that the website has been around for a while and may have a reputation to maintain.
Reliantlifeshares.com has been deemed safe to visit, as it is protected by a cloud-based cybersecurity solution that uses the Domain Name System (DNS) to help protect networks from online threats.
However ComplaintsBoard has detected that:
- Reliant Life Shares protects their ownership data, a common and legal practice. However, from our perspective, this lack of transparency can impede trust and accountability, which are essential for establishing a credible and respected business entity.
- The website belonging to Reliant Life Shares has a low number of visitors, which could be a red flag for users. However, it's important to conduct additional research to fully evaluate the website's legitimacy and trustworthiness.
- The sensitive services provided on this website are hosted on a shared server, which may increase the risk of unauthorized access and data breaches. It is important to ensure that the website has adequate security measures in place to protect user data, such as encryption and secure authentication protocols.
About Reliant Life Shares
One of the key offerings of Reliant Life Shares is its investment management services. The company provides a range of investment options that are tailored to meet the unique needs of clients. These options include mutual funds, customized portfolios, and alternative investments. With a deep understanding of the markets and a focus on achieving long-term growth, Reliant Life Shares has consistently delivered strong returns on investments for its clients.
Reliant Life Shares also offers financial planning services to help individuals and businesses achieve their financial goals. Its team of financial planners work closely with clients to understand their needs and create customized plans to meet those needs. These plans may include retirement planning, estate planning, tax planning, and more. Additionally, Reliant Life Shares provides ongoing support and guidance to help clients stay on track and achieve their goals.
Another key offering of Reliant Life Shares is its educational resources. The company provides a wealth of information on various financial topics through its website and educational seminars. Whether it is learning about investment strategies or understanding the tax implications of different financial decisions, Reliant Life Shares provides clients with the knowledge and expertise needed to make informed decisions.
Overall, Reliant Life Shares is a trusted partner for individuals and businesses looking to achieve their financial goals. Its focus on innovation, personalized service, and education has made it a leader in the financial services industry. With a commitment to long-term growth and success, Reliant Life Shares is a company that clients can rely on for all their financial needs.
Overview of Reliant Life Shares complaint handling
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Reliant Life Shares contacts
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Reliant Life Shares phone numbers+1 (818) 788-1904+1 (818) 788-1904Click up if you have successfully reached Reliant Life Shares by calling +1 (818) 788-1904 phone number 0 0 users reported that they have successfully reached Reliant Life Shares by calling +1 (818) 788-1904 phone number Click down if you have UNsuccessfully reached Reliant Life Shares by calling +1 (818) 788-1904 phone number 0 0 users reported that they have UNsuccessfully reached Reliant Life Shares by calling +1 (818) 788-1904 phone number
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Reliant Life Shares address15260 Ventura Blvd #1200, Sherman Oaks, California, 91403-5348, United States
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I am unable to get an official record of extra premiums paid on my investment for tax purposesRecent comments about Reliant Life Shares company
I am unable to get an official record of extra premiums paid on my investment for tax purposes
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I would like to pursue criminal charges against the principals of this company and the sales person. Please contact me if you were similarly defrauded and would like to be part of the attempt to secure justice. [protected]
By /Southern California Record Reports
Oct 23, 2023
A group of investors have sued troubled investment brokerage Reliant Life Shares LLC, claiming the company misled investors about their expected annual returns from so-called life settlement investments, and then allegedly engaged in a scheme to use past returns for other investors to pay for the current and future returns of newer investors.
A life settlement is an investment vehicle under which a broker or other third party pays a would-be investor to use all or a portion of the proceeds from a sale of an insurance policy.
The lawsuit was originally filed in Los Angeles County Superior Court, but later transferred to federal court on Oct. 11.
The company concealed from investors "the true nature of the investments," the suit states.That included information about out-of-pocket payments investors would have to make to keep the life insurance policies in force, the suit alleges.
The company managers were allegedly "looting" Reliant by using new investor funds to pay premiums on policies that had been purchased by the company years earlier, the suit said.
Reliant is now insolvent and does not have enough money to pay premiums on the life insurance policies it purchased, according to the suit.
The plaintiffs seek to recover their investments in Reliant plus unspecified damages and legal fees.
They are represented by Thomas G. Foley and Kevin Gamarnick of Foley, Bezek, Behile & Curtis LLP and Richard Donahoo and Sarah Kokanas of Donahoo & Associates, PC.
Reed et al v. Reliant Life Shares, U.S. District Court for the Central District of California, 2:2023cv08577.
This business is a *** cloaked in legal mumbo jumbo, and a terrible investment. I invested 30 thousand in 2 policies in 2016. I stand to gain $13,500 on these 2 policies when they mature. One life expectance was 2 years and the other was 3 years. When I pay the premiums in April, I will have paid over $10,000 in premiums. I expect to lose money on this investment. It is a one way street after you sign off and pay for your policies. You cannot sell the policies. I was told by Larry Tubler, the agent from Reliant, that I could sell my polices anytime without penalty. This turned out to be a lie. Reliant ususally sends out an investor update 4 times a year. I have not recieved any updates for the past year. I am afraid I will not only lose any returns but will lose my $30,000 investment. Beware investor, there may be companies that sell Life Shares that do not require the payment of premiums. I should have checked that out before being duped into purchasing these policies. I believe the Independent Medical Examiners who do the life expectances for Reliant are overly optimistic, giving investors the sense of a quick payout. The truth may be they just want to continue to get work sent their way. You scratch my back and I will scratch yours.
I am having the same issue as Doug with this company. After multiple requests for information and invoices for premium calls due, I got one email from ***, the CEO. It was a non-response. No information. When I replied that his response was an "Epic Fail" he called me to yell at me and spent about 15 minutes lying to me. Interestingly, he told me the reason I had not received correspondence from them was because they had my email wrong in the system. This was fascinating considering he had actually just emailed me. There are a list of lies he spun, but the bottom line is that they are in breach of contract for not providing me with timely statements or 90 days notification of premium calls due. I have reported them to the Department of Corporations (which is their governing body). I recommend that every dissatisfied customer do the same. Here is the link to the online form. https://docqnet.dfpi.ca.gov/complaint/
call me. Let’s go after the principals. I was also defrauded. [protected]
In my opinion my 75 year old Father was "tricked" in to investing $50,000 in Reliant Life Shares policies. He invested in 2016 at the age of 75 and eventually all the policies required premiums equal to about $6000 a year or 12% of the total investment. He passed *** in 2020. None of the policies have matured. My Dad was taken advantage of by Reliant Life Shares. Why would a 75 year old person invest in life insurance policies that cover people that are his age?