ComplaintsforEquitable

Financial Services

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Initial Complaint
10/04/2023
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.
My mother died, and I am the executor of her will. She had an account at ********************** which needed to be rolled over in a lump sum to me. Since May, I have been attempting to get this done through equitable - I have been handed off to several people. I have filed all and I mean all of the required paperwork with return receipt in hand. after all the required paperwork was in I called a week later to try and follow up. I had to call repeatedly and send email after email, I have counted a total of eight emails and numerous calls. In the last email I had to threaten to get my lawyer involved and I CCed my lawyer on the last email. I finally got a call back from them saying oh sorry I cant help you Im going to have to send you over to somebody else who can help you. This is despite being told that he was the staff person to facilitate this transaction. I am now back to sending emails and making phone calls. At this point I have no choice but to believe that equitable is intentionally trying to withhold this sum of money from us, the beneficiaries. Please help us if you can.
Business response
10/05/2023
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 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.
Thank you,
***************************

Customer response
10/18/2023
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:

Please see the attached letter I received today. Obviously, this is in response to our filing with the BBB. In this letter, they claim they haven't received the required information, although I have filed everything that they have asked for. They also pointed us to our "Financial Representative" for questions, although our original Financial Representative has left the company and their replacement told me in our last conversation that "He can not help me".
I've hired a lawyer to take this up with the business and resolve.

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

Sincerely,

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

Business response
10/19/2023
Dear **********************:
Thank you for your correspondence received in our office October 18th 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
09/28/2023
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.
Equitable is my short term disability company. I was put on leave August 18th 2023. I have had two procedures done, different dates, different doctors Aug 18 2023 (vasectomy) and Sept 7th 2023 (gall bladder) . Both attending doctors have sent required information in. Equitable keeps claiming they need Information. My gall bladder surgeon had put me off until October 9th 2023. And yet equitable only approved until the 10th of September. (Have no idea where they got that date). Equitable is constantly "sending" faxes to wrong numbers. Constantly giving me different answers. Tried calling supervisors and analyst in charge of my case and do not get responses. We are going to lose everything over this!!!!
Business response
09/28/2023
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 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.
Sincerely,
***************************
Initial Complaint
09/14/2023
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 been trying to get a rollover of a 403b and have had paperwork lost, been on hold for hours, unable to get supervisor help and told they have nothing from me after sending multiple copies of paperwork. I want my money rolled over but it is a dead end every time. What do I do?
Business response
09/16/2023
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 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
09/01/2023
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.
I am trying to transfer an Annuity *** from Equitable to *******. Equitable is throwing up roadblocks to stop the transfer. We have been attempting to complete this process in a 60-day window since early July. My ******* agents and I have been hung up on, paperwork for transfer rejected, Equitable agent was evasive about helping over the phone, and said "Your ******* agents' responsibility." The Equitable paperwork is ****** confusing, and the transfer tax-free window is closing soon.
Business response
09/06/2023
Dear ****************:
Thank you for your correspondence received in our office on September 1, 2023, regarding the complaint you received from ************************

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 policy owner which addresses the issues outlined in your correspondence. If you desire a copy of our response, please contact the policy owner, or his or her representative.

Respectfully,
***********************
Initial Complaint
09/01/2023
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.
I've had my *** with them for more than 11 years and my money keeps losing. On 2021, i've been trying to withdraw my money that is almost $21K and CSR in their office keeps on asking for more paper works until my investment got lost, and it still keeps on losing. I keep on calling and chatting at social media and no one seems to neglect me and got no reply. I just want my money back with interest. For more than 11 years, it didn't grow, and I was neglected and seems to no one care. My contract Number: *** *** *** Contract Type: Accumulator **** ********************* ***)Contract Date: January 25, 2012 Contract Owner: ******************************************* Name: *********************************
Business response
09/08/2023
Dear ****************

Thank you for your correspondence received in our office on September 1, 2023, regarding the complaint you received from ********************************

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 policy owner which addresses the issues outlined in your correspondence. If you desire a copy of our response, please contact the policy owner, or his or her representative.

Respectfully,
***********************
Customer response
10/04/2023
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 received a letter from a certain ***************************** and left the person a voice mail on Monday, however the person didn't reply to my message. All I want is to return my money back and I've lost almost 3K in the investment without growing. I've invested for more than 11 years.
I've spoken to *******, CSR on 10-3-2023, and she can't advise me on why my investment lost some money. I asked her if she can give me some financial advisor and she said, that I have to look for one. AXA EQUITABLE is not helping me and I was ignored. I told her that i will just withdraw my money. I've faxed the paperwork yesterday for withdrawal and I have not receive any reply.
I am not also satisfied of the paperwork, AXA EQUITABLE is tricky, it says, if i'll surrender the account, that I will not discharged AXA form all obligations under the contract and that the contract is no longer inforce.

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

Sincerely,

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

Business response
11/15/2023
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.
Sincerely,
***************************
Customer response
11/30/2023
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]
Always keep saying, privacy issue, you can't reply because you know this response is going PUBLIC.
AXA EQUITABLE is TERRIBLE

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

Sincerely,

*******************************
Initial Complaint
08/31/2023
Complaint Type:
Billing Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I have full power of attorney for my mother, ***************************** who is 95 years old.She has had an annuity with Equitable and received a letter from Equitable on Aug 1 stating that her account value had reduced to $0 and they were offering 2 options: (1) continue to receive payments for the rest of her life or (2) elect the Guaranteed Benefit Lump Sum Payment Option of $11,383.83. She made the decision to receive the Guaranteed Benefit Lump Sum based on this amount and submitted all the forms. Equitable received them on Aug 22nd and on Aug 24th, deposited a lower amount of money, $9612.80 into her account. Both my ********************** advisor and myself have been calling Equitable and we ask for a manager and we are told they will call us in 24 hours, and we are a week out and continue to receive no communication. We called today and the person said they won't honor the value stated in the letter. This is unethical and elder abuse.
Business response
09/06/2023
Dear ********************:
Thank you for your correspondence received in our office on August *******, regarding the complaint you received from ********************************
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 policy owner which addresses the issues outlined in your correspondence. If you desire a copy of our response, please contact the policy owner, or his or her representative.
Respectfully,
Customer response
09/19/2023
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and while the response is not satisfactory on a parallel path they have sent the money to my mother and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

*******************************
Initial Complaint
08/14/2023
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.
Equitable Financial Services misrepresented themselves when trying to secure my business. I have been trying for over a year to transfer my business elsewhere and they continue to deny my requests. I would like them to immediately release my 403(b) funds so that I am able to invest them elsewhere.
Business response
08/14/2023

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
08/08/2023
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.
Regarding Policy #** *** *** Life Insurance For *****************************. On Feb. 28, 2023 used our *************** thru ****************** to pay 3/1/23 premiums of $46.40. In April received a lapse notice for non payment of 3/1 premiums. Equitable has told me 2 different stories. 1. they never received the payment and 2. had to return the amount of $46.40 for insufficient funds in my account. They will not tell me where they sent this money or prove that they did it. On 5/25/23 used ****************** billpay to pay 6/1/23 premiums of $46.40. Equitable applied this amount to 3/1 premium. July received another lapse notice on the policy for 6/1/23 non payment of premiums. On 6/12/23 I faxed them copies of the ****************** Electronic Payments Details with confirmation numbers for the 2/23 and 5/25 payments. I have called Equitable 4-6 times over this matter. Each time they tell me a different story. We are current with our premiums but Equitable will still not admit to the two payments being received by them. The money has been withdrawn from my checking account. ********************** has the money! But our policy which we have been making payments on since **** is in lapse. In Nov. 2021 this also happened to my wife's policy with them. We fought for over a year with them and finally gave up, we were so frustrated and it was only $22.70. We just made the add'l payment to stop arguing with them, but now it is happening again. Their customer service is useless. I am very fed up with them. They don't keep records from previous calls or have copies of my faxed proof of payments. I talked to ******************, there were no issues with the 2/28, or 5/25 electronic payments, and what Equitable is saying doesn't make sense to them. If there were an issue they would resubmit the electronic payment a second time, and if there were insufficient funds I would owe the bank money, plus I have overdraft protection. Please help us. I don't know what else to do.
Business response
08/22/2023
******************** below is the acknowledgement sent to you on 8/8/2023:
Dear ********************:

Thank you for your correspondence received in our office on August 8, 2023, regarding the complaint you received from ******* and *********************** .

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 policy owner which addresses the issues outlined in your correspondence. If you desire a copy of our response, please contact the policy owner, or his or her representative.

Respectfully,
***********************

Customer response
08/26/2023
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 business Equitable Life Insurance has NOT COMMUNICATED with me about this issue as they said they would in their response to you. NOTHING has been done by them. I want answers. I want my account fixed. I want this policy credited for all the payments I have made.
I just payed the sept 1 2023 premium for both policies. It is now 6 months since their error and I have made two more premium payments ( june1, sept1). The longer this takes to correct, the harder it becomes. This needs to be handled now.

I give my written permission for Equitable to communicate with you, The Better Business Bureau, on my behalf . Do I need to fill out a release of information form for you to help in handling this ? Let me know if that needs to be done.

This response from them is not surprising. I have been told many times they will get back to me and they do NOT do it. So the problem continues. Do I need to take them to court, or call the news stations ?

Someone at Equitable has to take responsibility for the mistakes they make. Between our two policies, They have approx $70 of our money that is not credited to our accounts properly. What have they done with this money ? Has someone taken it for their own person use? Where is it ? Im only one person. Have they done this to hundreds or thousands of people ? Do they get audited ? Because these mistakes have to show up on their records.
Who can make them operate their business properly. They make mistakes and they never have to prove anything or communicate with anyone ? This is just wrong.
I have sent proof of my payments to them and to you, and still nothing is done by them. They cannot get away with cheating this way. This has to stop. Please continue to try and make them fix this. We appreciate it very much.
Thank you so much for trying to help.
******* and **********************;

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

Sincerely,

******* And ***********************

Business response
09/06/2023
Dear ********************:

Thank you for your correspondence received in our office on September 1, 2023, regarding the complaint you received from ******* & *********************** .

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 policy owner which addresses the issues outlined in your correspondence. If you desire a copy of our response, please contact the policy owner, or his or her representative.

Respectfully,
Initial Complaint
08/04/2023
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.
On July 25, 2023 paperwork was sent by TCG Administrators to close my account with **********************. On July 26, 2023 the account was closed. However, I have yet to receive my money or any confirmation or any information at all from Equitable. When I attempt to contact service on their website I am automatically logged out of my account and can't reach anyone.
Business response
08/24/2023
Good Morning, a response regarding this matter was sent directly to the client on August 16, 2023 and we consider this matter closed. Thank you!
Initial Complaint
07/31/2023
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 a 403b from a previous employer (left the job in ****). In March 2023, myself and my financial advisor have been attempting to transfer the balance ****** to a nationwide account. ********************** keeps changing the required paperwork, losing paperwork , etc for 5 months. Every phone call to the company changes what is required. I dont know how to get my money from them. Requests to speak with the next level up goes unanswered. Calls are met with over an hour on hold with rude or incompetent customer service agents. Most calls end up with a dead end transfer.
Business response
08/15/2023
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.

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