ComplaintsforSecurian Financial Group, Inc.

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Initial Complaint
02/15/2024
Complaint Type:
Product Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
Dear Securian Financial Team,I hope this message finds you well. I am reaching out to express my concern regarding the processing of my 401(k) withdrawal request. As of February 7, ****, I am no longer employed and, as such, believe I am eligible to withdraw the remaining funds from my 401(k) account and proceed with its closure.I have diligently completed all necessary paperwork and have submitted these documents through various means, including fax, ***** and directly through the Securian website, to ensure that all required documentation has been received by your team.Despite my efforts, I have yet to receive confirmation that my request is being processed within a reasonable timeframe. I understand that these processes can take time, and I appreciate the diligence your team applies to managing such matters. However, I kindly request an update on the status of my withdrawal request, including any potential steps I might need to take to facilitate this process.Your assistance in this matter is greatly appreciated, and I look forward to your prompt response.Thank you for your time and consideration.
Business response
02/16/2024
Thank you for informing us about this consumer feedback. We will respond directly to the customer. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to the Better Business Bureau via its public website.
Customer response
02/16/2024
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Initial Complaint
09/21/2023
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I have power of attorney over my fathers affairs. He has dementia. He listed myself and my three brothers as beneficiaries on his life insurance through Securian. He told me he and his exwife would have arguments over his policy. She wanted her name on it and he didnt want it changed. They divorced three and a half years ago. I checked the policy and she has changed it to herself and her sister. She is listed as spouse. This was done on 5-12-2023. I have the divorce decree that says 1-07-2020. I have explained this several times to Securian over the last two and a half months. They emailed me the form to change it back. I filled it out and emailed it back. No one knows anything about it. I emailed it a second time. No one knows about it either. I am mailing them a paper copy to their headquarters. It will include my POA form, my list of beneficiaries and a password I want asked for anytime Im on the phone. Ive known his ex most of my life. She will change it back if allowed. I was told we dont just remove a spouse just like that. I explained this was fraud and I want it changed. I would like to know what form of proof was accepted for our list to be changed. I suspect the people Im talking to may be working from home. This would explain the lack of communication along the way. All I want is my list put back the way it has been for several years and secured.
Business response
09/21/2023
Thank you for this consumer feedback notification. We will respond directly to the customer. We are unable to provide details of our response on the Better Business Bureau public website, in keeping with state and federal privacy laws and to protect the privacy of our customer.
Initial Complaint
07/31/2023
Complaint Type:
Product Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
My son *********************************** had gained employment at ******* theaters and joined the 401k plan. Since ******* left ******* he had $250 in his 401 k plan. *******'s 401k plan was moved to an *** at Securian financial. When ******* applied to have a distribution check sent he received $52.70 even thought the balance was higher.
Business response
07/31/2023
Thank you for notifying us of this concern. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to this Better Business Bureau escalation via its public website. A response will be sent directly to the customer if a customer profile can be identified based on the information provided.
Initial Complaint
07/21/2023
Complaint Type:
Sales and Advertising Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
My Daughter passed away in May. She had a life insurance policy with Securian Life through her employer. As her next of kin I was to receive her benefits. I opted for direct deposit, gave my bank account information and deposits were made to my account. THREE (3) weeks later there was a reversal of some of the funds. I was not given notice of ANY kind! I only gave Securian Life Insurance Company my account information to DEPOSIT funds. However, they found an error on the part and as I mentioned before reversed the payment without any notice. I went to my bank first and to get answers and they were baffled! They had no clue of the reversal until I paid a visit to my local branch. I reached out to Securian and was told by a rep that they could not discuss the matter with me, her MOTHER who is her next of kin, listed on the death certificate as informant (by the way all of this info was provided before payment was issued), she had no children, and was never married! I was told that Claims Examiner "******" would give me a call within 24-48hrs. ****** never called, I had to call them back! Frontline **** ***** and even her Senior Specialist, ******* both said they did not know what there standard practice is in notifying a recipient of benefits of a payment reversal. I finally spoke to ****** who was very crass and spoke to me as if I did something wrong! Again after asking what standard practice they have for notification, she was very aloof! I mentioned that this put me in a financial bind and she asked me to PROVE that to her and she doesn't understand why that would be the case because of other information she was privileged to! This company is HORRIBLE!
Business response
07/21/2023
Thank you for notifying us of this consumer feedback. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to the Better Business Bureau via its public website. A response will be sent directly to the customer.
Initial Complaint
03/10/2023
Complaint Type:
Sales and Advertising Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Several months ago, I left my former employer and withdrew 100% of the money in my 401(k) plan. Yesterday, I received a letter from Securain Financial stated that I was "inadvertently underfunded" so now have an $85 fee (again) to withdraw my newly funded account balance of ~$536 despite this being their error -- and the fact that I already paid this very high fee once (which they had never even advised me of).What I am seeking: I'd like Securian Financial to waive the second $85 withdraw fee. Id also like a written apology for treating me unfairly and holding my money hostage unless I pay them an exorbitant withdraw fee and for giving me the run-around when I asked to speak to a manager. Details:Attempted to resolve: 3/9/2023; spoke to two specials who were unable to waive this fee, or another nor could they transfer me to a manager to help. They still contended that I must pay the $85 fee even though I have a letter from them stating that my account was "inadvertently underfunded." I don't believe I should have to pay a SECOND $85 withdraw fee for something that is not my fault.Account #: ********* They are not doing business fairly.
Business response
03/10/2023
Thank you for notifying us of this consumer complaint. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to this Better Business Bureau complaint via its public website. We will send a response directly to the customer when the complaint review is complete, within 15 days of this notification.
Initial Complaint
03/09/2023
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Filed a claim vision lost got denied then resubmitted documents 3 times no response. I had lost vision was blind for two months now left legally blind have partial vision no peristaltic vision sensitive too light can't drive . They will not respond to claim or letters sent a total of 4 times
Business response
03/09/2023
Thank you for notifying us of this consumer complaint. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to this Better Business Bureau complaint via its public website. We will send a response directly to the customer when the complaint review is complete, within 15 days of this notification.
Customer response
03/17/2023
I am rejecting this response because:
My mother has been sending supportingdocuments of vision loss permanent optic nerve damage legally blind and medical records where altered. Sent letters for months no response. Just ignoring and abandonment of my valid claim of vision loss permanent optic nerve damage

Business response
03/17/2023
Thank you for notifying us of this consumer complaint. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to this Better Business Bureau complaint via its public website. We will send a response directly to the customer when the complaint review is complete, within 15 days of this notification.
Initial Complaint
02/17/2023
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
My benefits are totally messed up. I have 3 accounts all are suppose to be covered. I opened a claim for the one that got left behind. I was told it would be put under the same clamil as the other two. I spoke with someone this week and was told that it was put in as a duplicate claim. Paperwork has been sent from the ********** but securian still hasn't processed none of it. It's going on 2 mons now and i'm tired of this rat race and frustrated. I want to speak to a supervisor not a regular customer service rep. There's no way to speak directly to the person that reviews the claim. I'm getting nowhere with this company but have paid them evey month.
Business response
02/17/2023
Thank you for notifying us of this consumer complaint. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to this Better Business Bureau complaint via its public website. We will send a response directly to the customer when the complaint review is complete within 15 business days of this notification.
Customer response
02/21/2023
The company has not contacted m, a higher up.

Business response
02/22/2023
Thank you for notifying us of this consumer complaint. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to this Better Business Bureau complaint via its public website. We will send a response directly to the customer when the complaint review is complete within 15 business days of this notification.
Initial Complaint
01/13/2023
Complaint Type:
Order Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Funds was removed from my account with Securian financial without me being informed at the time of the transaction and the company did not provide me proof of the withdrawal
Business response
01/13/2023
Thank you for notifying us of this consumer complaint. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to this Better Business Bureau complaint via its public website. We will send a reponse directly to the customer when the complaint review is complete, within 15 days of this notification.
Customer response
02/21/2023
I am rejecting this response because:

Good afternoon
This is in response to the company response. I made multiple requests totaling 4-5 requests. Securian and the company ignored my request with the accurate amount in my account. I will add that at the time of my request I had an EEOC discrimination complaint against ******** and believe this is continuing retaliation for my complaint. Securian is full aware of my multiple requests and denied me because I was no longer with the company and not because of my incorrect amount. I request 4 additional times for my funds to be withdrawn. They have further the retaliation by transferring my funds to another company knowing that I requested 5 times to withdraw my account. All of my request was prior to the black out dates. I want my funds and proof of any amount taken from the balance of $1430. Securian has yet to provide me proof of transaction that they withdrew from my account without my consent.

Have a great day!

Business response
02/21/2023
Thank you for notifying us of this consumer complaint. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to this Better Business Bureau complaint via its public website. We will send a response directly to the customer when the complaint review is complete within 15 business days of this notification.
Initial Complaint
01/12/2023
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
November of 2022 I requested a hardship loan to prevent an eviction. I was denied I was told because I was. no longer with the company and could not take money out of my account until after January 2023. I called today to request a withdraw and my account is able $800 short and at the time of my hardship request it was over $1400. I am now being told that I was denied because of the amount in my account which is not true because I submitted several attempts and was denied or did not receive a response. I informed them that I was no longer with the company and asked several people to reach out to the company to correct this and it never occurred. My last day of employment was July 31, 2022 and as of today it still states per ****** and ***** in customer Service that I am still an employee of my former company. My complaint is that I was lied to and denied the right to take out a hardship from my 401 k.
Business response
01/12/2023
Thank you for notifying us of this consumer complaint. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to this Better Business Bureau complaint via its public website. We will send a reponse directly to the customer when the complaint review is complete, within 15 days of this notification.
Initial Complaint
11/28/2022
Complaint Type:
Product Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I contacted Securian Life Insurance Company (Minnesota Life Insurance Company) via their website around the end of August 2022. I have a **** policy with them that was started 25+ years ago through my employer ********************* Policy number ******* Contract ID ************ I have been making additional contributions during this time and as of my August 4, 2022 statement my account value was $118,304.64 The questions that I asked were 1. what is my cost-basis of this account value 2. what options do I have to take this money as an immediate annuity, or to rollover/transfer this money to my ******************* account where I could have it annuitized into a **** year fixed amount annuity. The website stated that I would receive a response in 2-3 days, a little over a week after submitting my request I received a response stating that they were sorry for the delay, and that my questions were being sent to the **** department and I would get a response in 8-9 days. I did not receive a response, and on September 26th I contacted Securian again via their website, on September 29th I received an email stating "We are looking into your query and will get back to you." Around the start of November I called two times ************** the number located on my monthly account statements, on both occasions after explaining my issues getting my questions answered I was transferred to the **** department where my calls were just dropped. So after over 3 months of waiting and trying to get my questions answered via website submissions and phone calls, my account value has decreased to $111,110.68 a loss of over $7,000 and I have yet to receive any answer to my questions. I had my financial review with my Fidelity advisor in August and my questions to Securian were part of what I needed answers to so that I could generate additional monthly income through a short-term annuity, and pay taxes
Business response
11/28/2022
Thank you for notifying us of this consumer complaint. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to this Better Business Bureau complaint via its public website. We will send a response directly to the customer when the complaint review is complete within 15 business days of this notification.
Customer response
11/30/2022
I am rejecting this response because:
I have been trying to get Minnesota Life to contact me for over 3 months!, starting with my first request for information, via their website, regarding my account in August. Them stating that they won't respond to the BBB and will contact me within 15 days is just more of the same! As a customer of 25+ years one would hope that this isn't the norm, but I sure wouldn't recommend anyone to do business with them!
Thank you for trying to help me resolve this!
*****************

Business response
12/01/2022
Thank you for notifying us of this consumer complaint. In accordance with state and federal privacy laws and to protect the privacy of our customer, we are unable to provide details of our response to this Better Business Bureau complaint via its public website. We will send a response directly to the customer when the complaint review is complete within 15 business days of this notification.

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