ComplaintsforAmerico Life Inc.

Life Insurance

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Initial Complaint
08/25/2024
Complaint Type:
Billing 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.
This complaint is in conjunction with my wife's (****** ********) regarding the same matter. I am completing a complaint since my release of information may also be needed and the origin of the policy complaint is in my name. Last year, without our knowledge, my wife and I were signed up for a health policy that what was sold to us. Additionally, Agent ****** ******* instead signed us up for life insurance. We never heard the words "life insurance" nor did we provide the beneficiaries or consent needed for such a policy. Furthermore, we never signed anything electronically or otherwise for this policy. Upon realization that my wife was signed up for life insurance, she promptly cancelled it in August of 2023. We made it explicitly clear we did not agree to this to the agent and fired him. My wife revoked auto draft consent (which was for health insurance NOT life insurance), connected to my account. Yet I was charged for a policy I did not realize existed until a few weeks ago when I received a letter from Americo in the mail the only mail I have ever received regarding this matter). I have asked Americo for my policy documents (which I cannot view online due to them being under my wife's email and she cancelled her policy), but are still waiting. I want to see the supposed "signatures" on our application and policy documents that WE NEVER PROVIDED. We have spoken to Americo and tried reaching out the agent, who has obviously gone silent and has made no attempts to rectify this, as demonstrated in the texts attached. We are out thousands are requesting a full refund. The agent falsified his address, presumably to get the application processed and approved in GA (he is based in FL). My wife and I have consulted with our attorney and will pursue legal and other necessary action, including contacting media outlets, should this not be addressed. This is fraud, plain and simple. We will not rest until this matter is resolved.
Business response
08/28/2024
August 28, 2024

POLICY(S):
************** (******* ********)
************** (******* *******)

Dear BBB:

Thank you for allowing Americo Financial Life and Annuity Insurance Company (Americo) this opportunity to address the above individuals concerns.

Americo has researched their files and provided a detailed response with documentation of the applications completed with writing agent ****** ******* in July 2023. Due to the private nature of the information contained in our response, we have sent our letter via mail directly to *** ******* and *** ******** addressing each of their concerns. This letter was sent today, August 28, 2024.

If the BBB has any additional questions, please contact our office directly.

Sincerely,

******* ** ******** AIRC, ACS
Senior Compliance Manager
Customer response
09/17/2024
The fact that I was not aware and not once ever talked to our rep about signing up for life insurance is unfathomable. This should be something to be considered. The text clearly stated not once did we speak about it and agreed to look into a plan.
Initial Complaint
08/22/2024
Complaint Type:
Billing Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
Hello sorry to inform you that this company Americo life ins has illegally taken money out of my account for life insurance. do not know how they got this authurization. i did not sign up for this and am very upset. I emailed them and have not heard back. I have nine payments of around 48 dollars each. I am dissabled and am struggaling to survive. I did not need that money taken from my account. I have heard people having the same problem with this Americo life. I think they got this info when I sighned up for goverment health care. they still call and text me every day so frustrating.Any help would be great these people are using some kind of scam
Business response
08/30/2024
I am writing in reference to a letter our company received from you concerning the above referenced policy.

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.
Mr. Gibbons email was received on August 20, 2024 and our response will be sent directly to Mr. Gibbons. If signed authorization to release policy information to the BBB exists, please forward that to our office and I will be happy to provide you with a copy of our reply.

Sincerely,
******* *******
Regulatory Compliance Department
Americo Life
Customer response
08/30/2024

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.

Sincerely,

***** *******
Initial Complaint
07/11/2024
Complaint Type:
Billing Issues
Status:
Unanswered
The business failed to respond to the dispute.
So I called the insurance company americo because I was looking for two life insurance checks that I've received a long time ago and sent back but I'm not sure what company I received them from so I had *** **** ****** on the phone and he had told me that he located the insurance checks and the amount was 200,000 and he needed my routing number and my account number so he could get the checks deposited very clearly said that he was gonna get the checks deposited there was no confusion. Then I see my bank statement and he had signed me up for life insurance and took money out of my account without my permission when he said he was gonna put money in my account the call should be recorded should have been recorded.I never signed anything and if you listen to the recording you will see how big of a liar he is. his number is ************ or so he said anyways
Initial Complaint
06/28/2024
Complaint Type:
Billing 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.
Hello, My name is ****** *****, and I am writing because I discovered that $48.00 is being taken out of my account every month by your company but I did not authorize this transaction. When I spoke to someone at your company today concerning this issue, they explained to me that the account is in the name of ******* ****, who is not on my checking account, nor an authorized user on my account, and has no authorization to withdraw any funds from my checking account. I was told that a Mr. ******* authorized this transaction on my account and I spoke to him last year about getting medical insurance, but I never authorized him to withdraw money from my account for life insurance and I did not give him authority to open up any accounts or authorize him to withdraw any funds from my account for any life insurance policies. I'm requesting a full refund of all of my money because I have no knowledge of this account, I did not authorize the withdrawal of funds from my account, the person who this account is named is not an authorized user or my account, and I had no knowledge of this account. The account number for this issue is *********** I never signed a policy or authorized any withdrawals from my account also. The money is being withdrawn illegally from my account, but the account is in the name of ******* ****. I do not own a policy and I never authorized this transaction.
Business response
07/01/2024
I am writing in reference to a letter our company received from you concerning the above referenced policy.

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.

If a written authorization by the policy owner to respond directly to your offices exists please provide a copy to our offices. If the authorization allows, we will be glad to provide information directly to you concerning the policy. To further save time, you may e-mail the authorization to me at regulatory.compliance@************ Otherwise, our response will be sent directly to the complainant under separate cover.

Sincerely,

******* *******
Regulatory Compliance Department
Americo Life
Customer response
07/09/2024

Complaint: ********

I am rejecting this response because:
I sent this business a response and I authorized the BBB to handle my affairs regarding any responses or affairs concerning this issue on July 8, 2024, I sent this letter and fax to ******* ******* who is a Regulatory Compliance Specialist at Americo. I sent this company proof that ******* **** is not on my account and never has been on my checking account and I am asking them for written proof where I authorized anyone to go into my checking account for a life insurance policy because I had no knowledge of this life insurance policy and I never signed for it and I am requesting that all of my money be refunded to me. I sent proof through my bank account statements that this money was being withdrawn from my account also.

Sincerely,
****** *****
************
Business response
07/23/2024
Correspondence was sent directly to Ms. ******s address of record on July 17, 2024 regarding this matter and our findings. A response was also submitted to the TX Department of Insurance and a premium refund was sent to Ms. ***** as requested via electronic fund transfer.
Sincerely,
Regulatory Compliance
Americo Financial Life and Annuity Ins. Co
Initial Complaint
06/13/2024
Complaint Type:
Billing 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 invested in an annuity for $75,000 and 5 year maturity. After 3 1/2 years I had an emergency requiring me to withdraw the entire investment. Naturally I knew there would be a surrender charge. However I received LESS than my original investment. Furthermore it took WEEKS to get this process completed AND worst of all were the lies along the way and the failure of the company to take phone calls or to return a call. This is one of the poorest businesses I have ever dealt with, and I very nearly lost my home because of their lies and procrastination. I even had to go get money elsewhere because of their horrible customer service!! They actually COST me money after investing $75,000 for 3 1/2 years! Ridiculous.
Business response
06/24/2024
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 Ms. ****** to deal directly with and release policy information to your offices, we are providing our response directly to Ms. ****** today via first class mail. The act of filing a complaint with your offices does not imply authorization by the complainant to deal directly with the Better Business Bureau.

If a written authorization by Ms. ****** to respond directly to your offices exists, please provide a copy to our offices. If the authorization allows, we will be glad to provide information directly to you concerning the policy.
Sincerely,

Steve Hittner
Regulatory Compliance Department
Americo Life
Customer response
06/24/2024

Complaint: ********
I am rejecting this response because: I cannot respond to them because I am out of state currently.

Sincerely,

******
Business response
07/05/2024
Attached please find a copy of my response to Ms. ****** that was sent directly to her on June 24, 2024. I would like to apologize once again that our Policyholder Services Department failed to deposit the surrender funds directly into Ms. ******'s account as originally requested. The surrender check was voided, and transfer of funds was approved on June 5, 2024.
Sincerely,
****** * *******
Regulatory Compliance Department
Americo Life
Initial Complaint
05/02/2024
Complaint Type:
Billing 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.
12/10/2022 I signed up for Health Insurance only with the Insurance agent through Marketplace using **************. The insurance agent is: ********* ** ********* [email protected] Licensed Insurance Agent Simplified Insurance Solution At no time did we discuss Life Insurance. I did not sign any paperwork for Life Insurance. My husband and I agreed to health insurance with ***** and requested the payment of $48.07 per month be automatically paid from our bank account. The banking information was provided to *** *********. I have learned recently that my checking account has been debited $48.00 per month by a company called, Americo, for Life Insurance. I do not know of this company, did not sign any paperwork, and do not have a policy number. To date, Americo has illegally removed $672.00 from my personal checking account. I immediately contacted my bank in Feb. 2024, to request their assistance. They contacted Americo and Americo sent them a typed form with my name, banking information for automatic withdrawal, and an electronic signature of consent. I have never seen this form, nor did I give consent. Interestingly, the form provided to my bank does not have a policy number. I contacted *** ********* on Feb. 23, 2024, and again on April 24, 2024, requesting he provide me proof of the request for Life Insurance. He has not responded to me nor has he provided any proof of consent. I have contacted Americo by telephone numerous times, but the automated voice mail is requesting my social security number before I can speak with an agent. I will not provide that number to them. I emailed Americo requesting information but their response was for me to send them a copy of my bank statement. I will not provide that to this company either. Today, May 2, 2024, I attempted to use the Americo Customer Portal to get information. The portal informed me ," We could not find a policy matching the details you entered. Please confirm information and try again. For assistance call *************" I only provided my name and date of birth. I do not have a policy number, nor do I have any paperwork from Americo about a Life Insurance policy. I see on the BBB website where others have had the same problem. I have included a letter I saw online that describes exactly what I am dealing with as well. I am not simply looking for a refund. I am looking to have a FULL investigation on how I was enrolled without knowledge. Thank you in advance for your help. ***** *******
Business response
05/03/2024
I am writing in reference to a letter our company received from you concerning the above referenced policy.

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.

If a written authorization by the policy owner to respond directly to your offices exists please provide a copy to our offices. If the authorization allows, we will be glad to provide information directly to you concerning the policy. To further save time, you may e-mail the authorization to me at [email protected]. Otherwise, our response will be sent directly to the complainant under separate cover.

Sincerely,

******* *******
Regulatory Compliance Department
Americo Life
Business response
05/28/2024
Our response was mailed to the client May 17, 2024 and the case has been closed per our files.
Sincerely,
Regulatory Compliance
Americo Financial Life and Annuity
Customer response
05/28/2024
Good Day:

I have received a check from Americo as a complete refund of the money they removed from my bank account. I have not cashed the check yet.

My question to you is: what do I need to do to make sure this company is investigated and held responsible for their actions? If I cash the check, it signifies I am satisfied with their response, right?
I have yet to see any of the requested documentation from Americo where I gave consent. How do I stop this from happening again and what does it mean if I cash the check?

Thank you for your help in how to proceed.
Initial Complaint
04/30/2024
Complaint Type:
Billing 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 had an insurance policy with them and canceled it on March 22, 2024. At that time it started it had a cash value of $583.82 but they only sent me a check for $147.78. Which looked to me to be the premiums that they took out after my cancelation.
Business response
05/02/2024
I am writing in reference to a letter our company received from you concerning the above referenced policy.

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.
Our response was sent directly to the complainant under separate cover today, May 2, 2024, and should be received within the next 3-5 business days. If signed authorization to release policy information to the BBB exists, please forward that to our office and I will be happy to provide you with a copy of our reply.

Sincerely,
******* *******
Regulatory Compliance Department
Americo Life
Initial Complaint
04/19/2024
Complaint Type:
Billing 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.
Received letter in the mail about policy, which I did give permission to open account. I reached out to them 02/2024 to stop this and they emailed me back saying they are stopping auto drafts and as of 04/18/24 they did two payments in one transaction so contacted customer service and spoke to agent and she supposedly will stop charges on my debit for investigation to conduct well as of 04/19/24 they still took out payment of 48.00 still.
Business response
05/01/2024
I am writing in reference to a letter our company received from you concerning the above referenced policy.

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.

If a written authorization by the policy owner to respond directly to your offices exists please provide a copy to our offices. If the authorization allows, we will be glad to provide information directly to you concerning the policy. To further save time, you may e-mail the authorization to me at *********************************. Otherwise, our response will be sent directly to the complainant under separate cover. Please note that we are currently reviewing this matter as we have received an email from the client.

Sincerely,
******* *******
Regulatory Compliance Department
Americo Life
Customer response
05/01/2024

Complaint: 21596944

I am rejecting this response because:

Have not received call or email on this matter. I try calling and be on the phone for over a hour for a agent. With still no help.
Sincerely,

****** ******

Business response
05/02/2024
Good morning,
Please allow 10 business days for a thorough review of your concerns, once we have completed our review a letter with our findings will be sent to your address of record we will not be sending any correspondence via email.
Sincerely,
Regulatory Compliance
Americo Financial Life and Annuity Ins. Company
Initial Complaint
04/11/2024
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.
On 3/27/24 an application for an insurance policy for $134.00 monthly fee was requested. My bank info was given to Americo by Ins Agent, *********** *****. Payment was withdrawn BEFORE I received a copy of the contract or policy showing that Americo was taking $268.66 monthly. I immediately called Americo on 4/04/24, spoke to Will and verbally confirmed immediate cancelation of the ins policy and return of the $268.66 to my account. He said it would take a couple days. Watched my bank account for funds to be returned. Called on 4/11/24, spoke to Lisa and her supervisor, ******** Was told that I has to wait 20 days for the funds to be returned to my account that Americo needed a letter from my bank stating there was no stop payment or dispute on the payment first. My bank shows that they put the money into Americo's account on 4/05/24. There is no dispute, AMERICO HAS THE MONEY ALREADY! When I stated this was unacceptable to wait 20 days before the funds were processed for return to my account, they said there is nothing they can do and there is no one who can change that. I have to wait. In the meantime, I have to deal with insufficient funds fees for my regularly scheduled monthly bills.
Business response
04/23/2024
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 once our review is complete. The act of filing a complaint with your offices does not imply authorization by the complainant to deal directly with the Better Business Bureau.

If a written authorization by the policy owner to respond directly to your offices exists, please provide a copy to our offices. If the authorization allows, we will be glad to provide information directly to you concerning the policy. To further save time, you may e-mail the authorization to me at [email protected]. Otherwise, our response will be sent directly to the complainant under separate cover.

Sincerely,

Steven Hittner
Regulatory Compliance Department
Americo Life
Business response
04/24/2024
In light of the complainant’s authorization for the Company to respond directly to the BBB, my response is below.

The writing agent has advised that while a premium of $134.00/month was initially discussed with the complainant during their meeting on March 27, 2024, after the complainant’s husband had been declined for coverage the complainant decided to increase the face amount the coverage she was purchasing, which resulted in a higher premium. The writing agent confirmed that this new premium amount of $268.66/month was discussed with the complainant, and that the complainant was aware this would be the premium for her policy. The writing agent states he also explained to the complainant that the policy would be sent to her via e-mail, which was sent on March 27, 2024 to the same e-mail address the complainant provided in her complaint to the BBB.

In regards to the bank draft refund, this draft needed to be held in our offices order to ensure the draft cleared the complainant’s bank before it could be returned. As an alternative, we would accept documentation from the bank confirming the draft had cleared. This is done to avoid the possible situation in which we immediately refund a draft that is later returned by the bank, at which time we would then need to request these funds back from the client. Our records show that the refund was set to release on April 23, 2024 so the amount of $268.66 should appear as a credit to the complainant’s account in the next 2-3 days. If the complainant does not see this credit, they are free to contact our Policyholder Services Department at ************ or at **************************** for further updates.

I hope you find this information useful.

Sincerely,

****** ** *******
Regulatory Compliance Department
Americo Financial Life and Annuity Insurance Company
Customer response
04/25/2024

Complaint: ********

I am rejecting this response because:
Sales Rep ***** ***** conducted the enrollment over the phone, which was on speaker to be heard jointly with ******* ******** my fiancée. *** ***** from the start of the call kept saying $100k. We told him that we did not want 100k, we needed 200k (to cover the mortgage). We said this over and over until he stopped his fast talking sales pitch and LISTENED. When he quoted us the monthly premium for 200k, he said $134.00 FOR EACH POLICY would be automatically withdrawn monthly FROM EACH OF OUR CHECKING ACCOUNTS. I know this for a fact because I could not afford both policies premiums to be withdrawn from my account solely. ** ***** assured me that only $134.00 would be withdrawn on the 5th of every month. Before ending the call, he asked if we had any questions. We asked him twice more, "ONLY $134.00 WOULD BE WITHDRAWN FROM MY ACCOUNT ON THE 5TH OF EACH MONTH FOR THE $200K POLICY, CORRECT?" *** ***** assuredly stated, "yes that is correct". Whether he was on autopilot closing the deal and not listening again or because he was getting sick (as he said he was during the next call on 4/2) I don't know. But $268.66 was NEVER authorized or agreed on to be withdrawn from my account. Had that been stated, I would not have given my bank info or continued the sales call. ** ***** took ** ******** bank info and mine to pay monthly premiums of $134 for each of our $200k policies.
Also, we were NOT informed that ********* policy was not approved until after April 2. Not during the March 27th initial call. On March 27th we were only told that because of ********* medications, they had a question and needed more information.
If I contacted Americo on April 4th when I saw the funds being transferred from my account to them and I immediately canceled the policy on the phone giving recorded verbal authorization to cancel the policy and refund the premiums, why did Americo have to wait until April 23 to begin processing a refund to me? My bank PAID the funds on April 5th. The money LEFT my bank on the 4th. By April 5th Americo physically had my funds. There is no reason to wait until the 23rd to make sure the payment cleared when it already had on the 5th.
My payment was kept for a month in Americo's account to insure they would receive interest on it from their bank for the month. If they do this to thousands of people, the accrued interest is substantial. Individually it's not much, but boy, when you look at the big picture. What a scam.
Sincerely

***** ********
Initial Complaint
04/04/2024
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.
Two people came to my residence in May 0f 2023 selling insurance policies didn't sign anything had to talk to husband, he makes all financial decisions In February husband noticed transactions on my bank account for grandsons social security direct deposit account it shows withdrawal for 2 separate policies. After investigating one policy started withdrawn $ 78.89 in the first week of June to the total amount of $ 623.12 upon being closed the second policy. $ 60.12 a month for a total $ 240.48 which started in November of 2023. After finally getting a human on the phone . I told of unauthorized withdrawals and fraudulent actions to the signature signing of policies. I was instructed to fax all my info to the number he provided. I faxed the documents I collected and my written complaint March 9th 2024. I received acknowledgment in my ***** that they will After closing accounts will receive refund in 7 to 10 business days. I have tried to contact Americo numerous times but only get put on hold for hours before hanging up. Today I went to customer.service @Americo.com The customer service crew after I submitted my complaint would send me to their expert complaint investigation for refund site.But before they will assist you. Pay $1.00 refunded latter.This done only after providing credit card information. And Americo's final findings.into this matter. I pray you can help me and my grandson because it is duely needed to help the cost of raising a teenage child.
Business response
04/16/2024
I am writing in reference to a letter our company received from you concerning the above referenced policy.

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.
Our response was sent directly to the complainant under separate cover today, April 16, 2024, and she should be receiving it shortly. If signed authorization to release policy information to the BBB exists, please forward that to our office and I will be happy to provide you with a copy of our reply.

Sincerely,
******* *******
Regulatory Compliance Department
Americo Life

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