ComplaintsforStateTrust Life and Annuities Ltd

• Initial Complaint

  07/31/2023

  Complaint Type:

  Order Issues

  Status:

  Unanswered

  More info

  I contracted a plan with Statetrust Life and Annuities on 2008.The plan states on the contract that there is a 25 year contribution period of a $1404 annusl premium.So far I made all my payments on time, and my contributions to date add to $20.592 USD, however the account value is *********** asked why is the difference but they don't provide a clear answer, I expressed my interest to cancel the plan and take out the money.However they said that they can only give me back $2.836, not even what the contract states for $18.658 if I decided to cancel it at this point.I would like to file this complain in order to get my money back.

  Customer response

  08/21/2023

  Hi
  Just wanted to mention that last week I sent a request to cancel my plan with State Trust Life & Annuities.
  I would like to have back the $20.000 that I gave them so far, they want to give me just $2.000.

• Initial Complaint

  03/21/2023

  Complaint Type:

  Order Issues

  Status:

  Unanswered

  More info

  I have been client of Statetrust since 2008. I have 2 policies with them. One for investment and one for retirement.In all of these years, I shave been paying them regularly.In October 2022 I had to pay my semester fee. Normally a collector calls me and we decide the details of the wire or the payment terms.In this occasion, I asked the collector if I could pay later. She replied saying that there is no problem at all.Then she called me again next month and we agreed on a date for the payment. Again she said no problem with that.In the day agreed I made the payment.Few months after that, in February 2023, they called me again for the the payment of the other police I have with them. I did pay as usual.Few days after that, I got an email from. Statetrust telling me, that because I paid late in the policies of October they are unilaterally cancelling my plan and of course giving half the money I have deposited with them.I called them, explained then that there was s late payment because the collector said, that there's no problem with that. So I did .They say, sorry, in the contract you have only 30 days of ****** And that's it.I asked them about the telephone recordings. They say they cannot give them to me. I told them again and told them that It was not on my interest to wire the money late. It was a coordination we made with the collector. She said there is no problem and never advised me to to otherwise or told me about a clause in the contract.Of course I do not remember a clause in a contract signed ******************************************************************************************************** that I could lose the policy, nor did I get a warning emmail form their side.All that I want is to recover my policy and keep up with the plan. Not being punished. I see they are stealing half of *********** for a mistake they make me made Is unfair to lose money just because o trusted her collector and of course, made a mistake with the late payment

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