ComplaintsforAmerico, Inc.

• Initial Complaint

  01/10/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  Jan 3rd 2024 was extracted from my account for the amount listed for a product I did not ask for..the salesman was misleading and underhanded with saling a life insurance in addition to health insurance without my knowledge. I was taken advantage of and I want my money back life insurance suspended

  Business response

  01/17/2024

  After further review we will be processing the policy such that coverage never existed, and a refund of all premiums paid will be sent to Mr. ******* via Electronic Funds Transfer from our Policyholder Services Department.  I would like to apologize for any inconveniences this situation may have caused. 

  Sincerely, 

  Steven ** *******
  Regulatory Compliance Department
  Americo Financial Life and Annuity Insurance Company

• Initial Complaint

  09/20/2023

  Complaint Type:

  Delivery Issues

  Status:

  Unresolved

  More info

  Around January, 2022, a women representing ******** came onto the property of my mom’s house, at her bequest. My family was going through some tribulation as we were in the process of making arrangements and saying goodbye to our dad.I told her, that I did not believe she could help us, as my dad was 82 years old, and had chronic health issues, stemming from a permanent disability, from serving over 20 years in the the Navy, and that he could pass tomorrow, as his health was that far gone. She then told us that although ********, would not cover us for a $50,000 policy, that Virginia State Law, required subsidiaries to provide burial insurance up to $7,000.00 regardless of preexisting conditions. My mom was in the living in room, as she is 73 years old and permanently disable. We felt a great weight lift off our family, as soon as I was told that after filling out her paperwork for the policy, and she got a confirmation number, via her cell phone, that, “If my dad passed that night,” in 20 days or less, that the funeral home would be paid, as we would receive a $7,000.00 check from Americo.” My dad did not passed that night but 9 months later on August 20, 2022. Naturally like most families this was devastating to us, especially my mom, who is 73 and disabled. She reminded me of the burial insurance policy we purchased, from Americo, and the funeral home director helped us fill out the paperwork, as she fax my dads death certificate to the. We did not receive a $7,000 check, but received more paperwork, a couple months late, which included a health records release form for my dad, which we begrudgingly filled out hoping it was just part of the process. That was the last I heard from Americo, as I was told the policy was sent to the review committee, which it has been in for the last several months. I ended up having to pay for my dad’s funeral expenses out of pocket, as the funeral director, told me she has had similar complaints about Americo.

  Business response

  09/27/2023

  Hello,

  In compliance with state and federal privacy laws, we are required to restrict access to policy information to the policy owner.  Since the documents we have been provided do not contain authorization from the policy owner to deal directly with and release policy information to your offices, we will be providing our response directly to the policy owner.  The act of filing a complaint with your offices does not imply authorization by the complainant to deal directly with the Better Business Bureau.  

  We apologize for the negative experience you've had. Can you please contact us directly with your policy number and the best contact information to reach you at. If you prefer to contact us directly, please submit a correspondence to *********************************  Thank You for allowing us the opportunity to assist you.

  Sincerely, 

  Regulatory Compliance

  Americo Financial Life and Annuity Insurance Company

  Customer response

  10/19/2023

  
  Complaint: 20627473
  
  I am rejecting this response because I have not heard anything from them! The woman who sold me the policy, was representing Americo Insurance company, and told me specifically, once I was approved over the phone by Americo Insurance company, that I’d my dad passed that night, I would be receiving a check for 7k from Americo the next day. Also, I might need to be contacting the States Attorney, about Americo Insurance Company’s fraudulent business practices, as well as seeking criminal and civil action against them. 
  
  Sincerely,
  
  **** ******

  Customer response

  10/19/2023

  Policy number is: **************. I hope this helps, as what Americo has done to my family after the passing of my father is atrocious. I thank you for all your help. 

  Customer response

  12/24/2023

  
  Complaint: 20627473
  
  I am rejecting this response because:

  My complaint has not been resolved, and they are still delaying. Like I said their insurance agent assured me a check would be mailed out as soon as they received the death certificate, and it’s been over a year. That they would not harass me for medical records, etc. That I would have 7k to pay me to bury my dad. They are a despicable, unprofessional company, and it is apparent to me that their management and leadership teams lack basic business ethics. 

  
  
  Sincerely,
  
  **** ******

  Business response

  01/16/2024

  Good morning - For privacy reasons, Americo is unable to provide our detailed response directly to the BBB.  Please be assured that our company provided a thorough response to the complainant on 11/16/2023, addressing all concerns.  We regret that the client did not agree with our response, however, our position remains unchanged. They should refer to our November 2023 letter for additional details.

  Thank you, 

  Regulatory Compliance Department

  Americo Financial Life & Annuity Insurance Company

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩