ComplaintsforThe Nassau Companies of New York, Inc.
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Complaint Details
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Initial Complaint
02/28/2023
- Complaint Type:
- Delivery Issues
- Status:
- Answered
My mother passed and left me her annuity. I filed a claim and asked for monthly payouts. Soon problems arose with the payouts. Sent to wrong address, stop payments on checks, no help from customer service. I have not received any of the money since November of 2022. Excuse after excuse on two dozen calls. In January I asked for a lump sum payout. Now I've been hearing excuses for why that is not done for two months. Escalated to supervisor Jaylon S***, now he refuses to take my calls. This morning they said a check had been sent out even though I have gone through the trouble of sending a voided check for direct deposit. Also filled out *** paperwork. When I asked why a check was sent I was put on hold. The rep came back and said scratch that, no check had been sent and they did not know why, no one knows why it's taking so long. They just say whatever, never true to get me off the phone. Now they are saying by the end of the week, I have been told that now for 6 weeks. I'm wondering how many others are going through this and also wonder if they just don't have the money. Please help. ThanksBusiness response
03/23/2023
The payment was made on 03/01/2023 and cleared on 03/03/2023.Initial Complaint
02/09/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
In the early 90's I purchased a whole life insurance policy through my agent Warren H**** of *** ***** ********* in *********** **. By 1992 this was no longer a good investment so with the advice from my agent it was agreed to stop and allow it to run out no longer making annual payments. Thirty years I receive a letter from Nassau Ins that im going to receive a ***** for $63,747.84 gross distribution and $38,821.54 taxable income. I never received any amount or bennifit of this loan. From my agent: I have talked to Nassau several times trying to get info on this and they would only provide limited detail to me because I have not been licensed with them for many years and I am not considered the agent anymore. Frustrating. I was trying to go through a back source but only got so far there. What I got was there were policy loans on the account and once the cash dividends ran out it may have used the loan provision to continue paying the premium. Since I can’t get info from them I am unable to confirm that. Also, since I have not been an agent for many years, I was not receiving those policy anniversary statements they send you each year that would have shown that. I would call them and see what they can tell you. ###-###-#### Pol # ******* Beyond that I can’t figure out what produced a **** unless it was cashed in I am sorry I am not much help, I wish they would let ex agents have accessibility. This was nothing I agreed to, nor was made aware was happening. As with any loan I have the right to review the terms and sign an agreement to the note. I was made aware this investment was no longer a good investment so I stopped making premium payments so it make no sence to take a loan for a bad investment. As for further advice I ran it past a previous financial adviser and he advised the same thing, just let it run out,
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Customer Complaints Summary
4 total complaints in the last 3 years.
0 complaints closed in the last 12 months.