Complaints

• Initial Complaint

  12/18/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I am a pensioner and retiree. My sons have tried to withdraw my funds from this company and no matter what additional documents we supply, they refuse. I am older and should not be made to jump through hoops the access my funds. We have spent hours on the phone and filled out all of the paper work that was asked for us and they keep asking for more documents. Their requests seem vague and incomplete. I need to access my funds urgently.

  Business response

  12/18/2024

  Dear ******************************** you for your correspondence received in our o?ce regarding your Complaint ID: ********.

  
  Because of privacy concerns, and in accordance with our standard operating procedures, we cannot answer inquiries or complaints to non-regulatory organizations, but please be assured that we will provide a response to the consumer within the next ********************************************** your correspondence. If you desire a copy of our response, please contact the consumer, or his or her representative. 

  Customer response

  12/19/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

   Our dealings in private have not yeilded the withdrawl of my funds. This is more stonewalling.

  In order for the BBB to appropriately process your response, you MUST answer the question above.

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

  Business response

  12/20/2024

  Good Afternoon, 

  Thank you for your correspondence received in our office today regarding your file # ********.

  
  Because of privacy concerns, and in accordance with our standard operating procedures, we cannot answer inquiries or complaints to non-regulatory organizations, but please be assured that we will provide a response to the consumer within the next 30 days which addresses the issues outlined in your correspondence.  If you desire a copy of our response, please contact the consumer, or his or her representative.   

  Customer response

  12/23/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  They are relying on vague internal processes to keep my money. This is why I am making the complaint in the first place. 

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

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

• Initial Complaint

  09/09/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  On 07-01-2024 I submitted a life insurance disbursement form to Equitable to surrender my life policy and receive a cash value payment. The form was processed promptly and I received a check for the cash value. On July 10th I received a secure email and letter attachment from the Equitable ************** (***********************) with the gross cash value, taxable gain, and indicating the total dividends paid on the policy exceeded the total premiums paid so there is no cost basis remaining in the policy. I was surprised that the amount of the cash value of the policy was about the same as what I estimated the total premiums paid should be. I was wondering how the total dividends paid could have been twice the amount of the total premiums paid (cost basis). So on July 12th I sent a secure email back to the Equitable ************** (***********************) asking what was used as the cost basis amount but did not receive any response from *************. On July 19th I received a letter from the Equitable ************** (*********************) with essentially the same information as the letter of July 10th from ***********************. On July 30th I sent another secure email to the Equitable ************** (*********************) requesting more detailed information on how the amounts in the letters of July 10th and 19th were determined and calculated. However, I did not receive any response from ******************. On August 15th I called the ************** and spoke with ****************. I indicated that I was disappointed that Equitable staff were not responding to my requests for information and that I would file a complaint if my issue was not resolved. I was assigned Case ID #********* and I forwarded the secure message that had been sent to ********************* on July 30th to the Customer ************** secure email address. I received a reply from the Customer ************** on August 15th indicating to allow 14 business days for processing but again I have not received any response to my requested information.

  Business response

  09/09/2024

  Good Afternoon, 

  Thank you for your correspondence received in our office today regarding your file # ********.
  

  Because of privacy concerns, and in accordance with our standard operating procedures, we cannot answer inquiries or complaints to non-regulatory organizations, but please be assured that we will provide a response to the consumer within the next 30 days which addresses the issues outlined in your correspondence.  If you desire a copy of our response, please contact the consumer, or his or her representative.   

  Customer response

  09/10/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  I had a life policy with Equitable since 1958. This BS boiler plate response they provided is consistent with experience I already described in my complaint against the company.  Equitable is essentially indicating they are NOT accountable to the BBB or their long-time customers. ********************** has become unethical, shady, and despicable.

   

   Sincerely,

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

  Customer response

  09/20/2024

  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 and the matter has been resolved.
  
   

   

  Hello Team,

   

  As of today Equitable has submitted all the information I have been requesting since July to my satisfaction.

   

  This complaint case can be closed.  Please let me know if you need any additional information.

   

  Sincerely,

   

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

   
   
  
  

• Initial Complaint

  09/03/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I had a qualifying event that allows me to take a distribution from my 403b. I completed paperwork on 8-27-24 and faxed back to company with approval of TPA. Called on 8-28 to verify that they received fax as instructed - was told request was being processed and to call back on 8-30. Money I requested was removed from my 403b account on ************** on 8-30-24 as no money deposited into my account. Spoke with customer service member ******* who stated that request was processed and funds were taken yesterday from my account and would be put in my account on ****** since Monday was a holiday I asked why it could not be put in on Friday she stated it was being processed -asked what is involved or meant by processing could not answer. She was unable to tell me what they would be doing with my money since it was already taken out of my account. I received a call back later on 8-30-24 from ******* stating that she did put in a request to "expidite" my deposit in bank but had not yet heard back.On 9-3-24 money not in account and no indication money has been put in account and not yet cleared. Called Equitable spoke with ****** who indicates that the money is not going to be deposited until Wednesday 9-4-24 and states that don't I know that yesterday was a holiday and they just opened. I informed that I spoke with ******* on Friday and told that it would be put in my bank on Tuesday. Left message with advisor as of yet no recall ( did not respond to earlier email)I had requested to speak to a manager but given script of "this is not something that we would elevate to a manager" ******* who I spoke to states that she never told me MY money would be put in account on Tuesday she insists she stated Wednesday- howver Wednesday was never mentioned in call on 8-30-24. She states she put in expidited request for it to be put in on Tuesday I requested to take out ****** dollars of MY money and it was taken out of my account but not put in my bank account

  Customer response

  09/04/2024

  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 and the matter has been resolved.
  
  Sincerely,
  
  *******************************
  
  
  
   
  
  

• Initial Complaint

  08/20/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I had a retirement account with ********************** several years ago and hadn't moved the funds. My old employer closed the account, so I finally had to move the funds. I've been trying to do so since May of 2024. Every step has been made more and more impossible by Equitable. Finally I thought I'd jumped through all the hoops and gotten my money. They claim to have sent a check to my current provider...who a month later has not received it. They say the only way they can send a new check is if they have some sort of affidavit from the new provider (who says they don't do that). I'm at a loss on what to do next. I don't understand why they can't cancel and reissue the check (if they ever sent it to begin with). They still have my money even though the account is closed and they give absolutely no recourse for getting it back.

  Business response

  08/20/2024

  Good Morning, 

  Thank you for your correspondence received in our office today regarding your file # ********.

  
  Because of privacy concerns, and in accordance with our standard operating procedures, we cannot answer inquiries or complaints to non-regulatory organizations, but please be assured that we will provide a response to the consumer within the next 30 days which addresses the issues outlined in your correspondence.  If you desire a copy of our response, please contact the consumer, or his or her representative.   

  Customer response

  08/22/2024

  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 and the matter has been resolved.
  
  Sincerely,
  
  *********************
  
  
  
   
  
  

• Initial Complaint

  08/14/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  The date the transaction was requested is July 30th, 2024.I was doing a full surrender of my annuity.Equitable promised to wire my funds. The wire failed because Equitable didnt properly prepare wire for my bank to receive funds.Equitable said since the wire didnt go through a check was mailed to me. Two weeks later I learned a check was never mailed to me. Equitable repeatedly lied to me regarding the status of my funds.Equitable hasnt resolved my issue and cant tell me when the issue will be resolved. Equitable can only tell me the issue has been escalated and is being investigated.Equitable still hasnt provided resolution up to the date of this complaint.

  Business response

  08/14/2024

  Good Afternoon,

  Thank you for your correspondence received in our office today regarding your file # ********.

  
  Because of privacy concerns, and in accordance with our standard operating procedures, we cannot answer inquiries or complaints to non-regulatory organizations, but please be assured that we will provide a response to the consumer within the next 30 days which addresses the issues outlined in your correspondence.  If you desire a copy of our response, please contact the consumer, or his or her representative.   

• Initial Complaint

  06/27/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  A beneficiary claim form was filed on 10-6-2023, there has been no progress to settle the claim. I call regularly to get updates and I am informed there are no updates to provide. They also inform me there is no way to escalate my issue or speak to someone else directly. The company is behaving in an unethical and unprofessional manner by not getting back to the client on the issue or next steps to drive action for resolution.

  Business response

  06/27/2024

  Good Morning, 

  Thank you for your correspondence received in our office today regarding your file # ********.

  Because of privacy concerns, and in accordance with our standard operating procedures, we cannot answer inquiries or complaints to non-regulatory organizations, but please be assured that we will provide a response to the consumer within the next 30 days which addresses the issues outlined in your correspondence.  If you desire a copy of our response, please contact the consumer, or his or her representative.   

  Customer response

  07/18/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  The matter has not been resolved.  I was informed on July 11, 2024 the processing would of the new contract would be completed.  As of today, July 18, 2024, it has still not been finalized.  I have called in again and sent an email requesting an update but have not received a response. 

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

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

  Business response

  07/18/2024

  Good Afternoon,

  Thank you for your correspondence received in our office today regarding your file # ********.

  Because of privacy concerns, and in accordance with our standard operating procedures, we cannot answer inquiries or complaints to non-regulatory organizations, but please be assured that we will provide a response to the consumer within the next 30 days which addresses the issues outlined in your correspondence.  If you desire a copy of our response, please contact the consumer, or his or her representative.   

  
  

• Initial Complaint

  05/23/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  After the unfortunate passing of my relative, I reached out to this company to try to get his affairs settled and information on how to do so. Both agents I spoke with were very rude and unsympathetic to me. The first agent kept asking for me to put the contract holder on the phone ( my deceased loved one). Disgusting. I was transferred to the death benefit department and the senior rep refused to tell me what documents or information I may need to proceed. She insisted I wait until I got some email. That was May 13. It's 9 days later and still no information on how to proceed. I asked to speak with leadership and she refused. I asked for a call back and til this day have heard from nobody. With this experience in mind, I fully intend to close out all accounts. ********************** was rude, unsympathetic and unprofessional. My family is mourning. We still have to handle affairs and don't need yet another unnecessary obstacle such as the company witholding information and not following the contract.

  Business response

  05/23/2024

  Dear **********:

  
  Thank you for your correspondence received in our office regarding your file # ********.

  Because of privacy concerns, and in accordance with our standard operating procedures, we cannot answer inquiries or complaints to non-regulatory organizations, but please be assured that we will provide a response to the consumer within the next ********************************************** your correspondence. If you desire a copy of our response, please contact the consumer, or his or her representative.

• Initial Complaint

  05/02/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I was signed up with the company 1-7-22 with an agent/advisor recently that quit another agent/advisor quit now my poicy has no agent/advisor. I went to inquire about my policy only to find out I had no control over my policy activity. The policy is on a election of segment which means the company has control over all funds. I am trying to request my policy be placed in a guaranteed interest account; however, only a agent can do this. On 4/23/24 I was given 2 telephone numbers one in ****** ************ *********************** and *******, ** ************ ******* by the customer service of ********************** life *********************************************. Only to no prevail calling leaving my policy number and telephone no return call. A month of trying I called customer service ****** only to be told those were the numbers they had. I requested to speak with a manager was told none were available. I am having money automatically withdraw from my account of $170 faithful yet theirs no agent/advisor that can help me on my policy.

  Business response

  05/05/2024

  Dear ********************: 

  
  Thank you for your correspondence received in our office today regarding your file# ********.

  
  Because of privacy concerns, and in accordance with our standard operating procedures, we cannot answer inquiries or complaints to non-regulatory organizations, but please be assured that we will provide a response to the consumer within the next ********************************************** your correspondence. If you desire a copy of our response, please contact the consumer, or his or her representative. 

• Initial Complaint

  04/17/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Loan from 403 B paid monthly installments all ontime and made a lumpsum payment that paid the entire loan off april 3rd 2023. Equitable is documenting that the loan went into default on March 30, 2023 and was pd in full on April 4th, no late payments for the life of loan exept march 30th. They sent me a 1099-R for the full amount of the loan plus iterest at ******** which leaving me with a federal tax liability of 3000+ $ and 10% penalty for early withdrawal of funds . I now owe the *** over 5000$. I paid the loan in full, this does not hold logic? Also, I have no way to verify the April 4th date of the check I sent to pay the balance. I beleive I paid on time ,I paid in full and did not default and should not owe the 5000+ to *** and that Equitable Equivest needs to validate that to the ***.

  Business response

  04/17/2024

  Good Afternoon,

  Thank you for your correspondence received in our office today regarding your file # ********.

  Because of privacy concerns, and in accordance with our standard operating procedures, we cannot answer inquiries or complaints to non-regulatory organizations, but please be assured that we will provide a response to the consumer within the next 30 days which addresses the issues outlined in your correspondence.  If you desire a copy of our response, please contact the consumer, or his or her representative.   

• Initial Complaint

  04/12/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I have an account with ********************** (contract # *********). I had requested that my monthly payments were deposited directly into my checking account. After requesting this to no avail, finally the company estarted with the electronic transfer without any problems. Recently, I had to make a change in the terms of my account and now ********************** is refusing to continue making the direct deposits into my bank account, despite that nothing has change, the bank account number is the same. I have constacted the customer service to no avail, but they do not offer me any solution and insist in sending the monthly payments by check to my mailing address, which is not convenient for me.

  Business response

  04/15/2024

  Dear **********:

  Thank you for your correspondence received in our office today regarding your file# ********. 

  
  Because of privacy concerns, and in accordance with our standard operating procedures, we cannot answer inquiries or complaints to non-regulatory organizations, but please be assured that we will provide a response to the consumer within the next ********************************************** your correspondence. If you desire a copy of our response, please contact the consumer, or his or her representative. 

*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. ↩