ComplaintsforVoya Financial Inc.
Investment Management
Need to file a complaint?
BBB is here to help. We'll guide you through the process.
Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
01/18/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
My former wife passed away September 29, 2022. I had been paying on a life insurance policy on her for approximately forty years and I am the soul beneficiary. After **** was advised of her passing, I was instructed to send in certain papework to have the claim processed. I forwarded everything they asked for immediately and was advised that after receiving them, within ten to fifteen working days I would receive the payout. I contacted ************** and was advised the same thing each time, ten to fifteen days. Each time I would wait more than fifteen days before calling again.. Although I had sent a Decree of Divorce, I was told they had to investigate the decree and all of the rest of my paperwork was in order. On January 17, 2023, I was told that my paperwork wasn't in order and fully submitted until December 22, 2022 and they hadn't gotten around to processing December 22nd paperwork as of yet and it would now need to be sent to the claim adjustor for review. I was told this would take another ten to fifteen business days.. I have been trying to resolve this issue since September *****. After paying for the insurance policy for so many years, I am being made to make repeated calls to get answers as to why a relatively small payout can not be handled morPolicy e efficiently. As an eighty-five year old, on a fixed income, the money is needed and owed. I don't understand how a company can string clients along after collecting their money in a timely manner, yet they can't pay out in a timely manner. Policy # ********* and Claim # ***********Business response
01/24/2023
We thank ****************** for bringing his concerns to our attention. In order to maintain customer privacy, we are responding directly to *******************Initial Complaint
12/21/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
On 11/16/2022 requested a total distribution of the account. On 11/18 a check was mailed to TD Ameritrade. Called multiple times during November and December as to the status of the check. As of 12/12 the check has not arrived. Called Voya on 12/13 to have a new check sent overnight. Told they do not do overnight but would send by courier in 2-3 business days. Check not received on 12/16 so called Voya and was told check was just issued on 12/16 and should have a tracking number in the Voya account by tomorrow. No tracking number appeared in correspondence in the Voya account.Called on 12/19 to get a status and was first told that check was sent US Mail and then was told check should be received on 12/19.Called on 12/20 and told check was US mailed and asked to talk to a supervisor. The agent put me on hold and left me hanging on hold for 45 minutes when I hung up. I called back a second time and asked to speak to a supervisor and was put on hold for a while then the agent came back to ask if I wanted to continue to hold and I said I would. The call was terminated by Voya after 36 minutes.Business response
12/30/2022
A response was provided to *** *************************** on December 29, 2022. Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.Initial Complaint
12/19/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I have had a 401k with Voya for over 4 years now. I have been going back and fourth for a month about taking my funds and rolling them over info a traditional **** I have recieved multple calls asking me for directions on where to send the funds when they are supposed to be rolled into the **** I have been hung up on multiple times while trying to get to someone who knows what they are doing at this company. When I ask for a manager or supervisor, they through the call back into the automated call que to speak to a new customer service rep and have you reverify all your information. My funds have been lingering for about a week now not disbursed into any *** because this place is a mess and their process *****. My *** was open Dec. 6 and my 401k funds have still not been deposited into the *** or even sent to the *** *********** It is now Dec. 15 and someone from the 401k department called and asked me where they are sending my 401k funds. I cannot believe this.Business response
01/05/2023
A response was provided to ************** on January 5, 2023.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.Initial Complaint
12/12/2022
- Complaint Type:
- Product Issues
- Status:
- Resolved
Voya Financial will not change my address nor ***** me access to my account. For three years I have complied with every step they request and every time they continue to tell me they have never received my letters or received only partial information. I have not received a statement from Voya financial since they took over my deferred compensation account 3 years ago. Somebody at Voya financial is either incompetent or illiterate. I have sent four letters of change of addresses with utility bills and they claimed only to have received one without the utility bills. Can I speak with a CEO or somebody in charge other than a customer service representative. Every customer service representative could not or would not help. I cant tell the difference.Business response
12/29/2022
****************** has been provided with the process on how to update his address. At this time we have not received the necessary documentation from ****************** to update. When the documentation is received in good order we will make the update. Thank you.Customer response
12/29/2022
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
11/18/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
I am a beneficiary of a Voya Financial account of my deceased father. I submitted and appropriately corrected my claim form to receive my financial benefit. After weeks of waiting for my benefit, a voice mail was left that a claim had been filed in my name and paid out in 2013. It is criminal fraud and identity theft as well as theft. I am owed and entitled to the benefit assigned to me.Business response
12/09/2022
**** has made numerous attempts to contact *** ******** with no follow-up received. A letter has been mailed to ******************** advising that we are closing out the issue with the Better Business Bureau. The letter also provides a direct contact that she can reach out to for any further assistance.Initial Complaint
10/05/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
The company is discriminating against me due to my age others are allow to access and control there account but due to my age they are not allowing me toBusiness response
11/03/2022
We have made numerous attempts to reach ****************, however his issues outlined in this matter have been addressed. Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.Customer response
11/04/2022
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]
I have reached back out to the company via the number that was left on my voicemail once I returned those calls I have not received a call back nor a response by email or any other form of communication to discuss my issues and concerns
In order for the BBB to appropriately process your response, you MUST answer the question above.
Sincerely,
*************************
Business response
12/27/2022
**************** has been contacted on numerous occasions. His issue has been resolved. At this time, **** considers this matter to be closed. Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank youInitial Complaint
09/20/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
I am trying to rollover / transfer my VOYA account into another financial institution. Each time I call VOYA I am told they didnt receive the correct paperwork, each time there is a new page that needs to be completed, even though I ask each time I speak to someone if all my paperwork is complete they always tell me yes except for the new page. My new financial advisor has even contacted them with me on the phone and they refuse to work with him. **** states it needs to fax a third party for an authorization of distribution. However the third party never seems to get that fax no matter how many times the form is faxed. I asked for a supervisor, ****, she assured me she sent the fax and all would be taken care of. It was not and she refuses to return my calls and once again fax was not received. Asked for another supervisor *** he was going to take care of everything. Again I called receiving fax office and spoke to ***** who said fax was received and returned. I called *** back gave him ****** message, *** argued with me until I lost it and told him to call ***** he did called me back and said ***** told him he never spoke with me. I called ***** at receiving fax office and he admitted he misrepresented the truth to ***. Told ************ wanted to speak to his supervisor of course they were all busy. Now speaking with ***** at receiving fax office. Again another I never received the fax from *****************. My new financial advisor completed the online form and returned it online ***** said she received it but now the box ReliStar must be checked instead of VOYA as distributor. Another change they on the spot requested and was never mentioned before. I have called and left messages with the home office with *****, no return calls. This has been going on since April. The employees never have the same story and no one takes responsibility for helping me yet they always want to make sure I know the calls are recorded. I just want my money to be distributed.Business response
10/03/2022
A response was provided to ********** on September 23, 2022.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank youInitial Complaint
06/06/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
Voya Financial **************** claims to have mailed a check covering the life insurance policy payout for my deceased husband. That was on May 19. Still no check. When I called to inquire they claim that the **** is very slow to deliver the mail. Yet when I contacted the ****, they indicated that the check should take no more than 5 days to make it from ***** to ****************. Voya is telling me that if they have to stop payment, there will be another 3 to 5 day waiting period to reissue the check and they are unwilling to send the check in overnight mail. They say the best that they can do would be 3 day mail service. I filed the claim on May 11 and they processed the claim in a reasonable period of time. I have no complaints about that, but strongly suspect that while they may be cutting the checks they are obviously not mailing them when they claim to be mailing them. This is a great way of keeping the money owed and stonewalling the policy beneficiary.Business response
06/09/2022
*********** has received your request and has sent an acknowledgement to ****************** via e-mail. We are gathering information to research the concerns raised and expect to have all the necessary information shortly. *********** will respond directly to ***************** upon completion of our review.
Should you have any questions, please feel free to contact me at ********************** or ************.Customer response
06/20/2022
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
04/20/2022
- Complaint Type:
- Product Issues
- Status:
- Resolved
I have made several phone calls and e-mails to Voya regarding a termination payment, nd they keep saying they haven't received notice from my former employer ****** Security that I no longer work there. I resigned in January of this year. I want to do a rollover or simply a termination payment, but after repeated attempts, Voya will not communicate. I sent an e-mail yesterday to them with no response once again.Business response
05/02/2022
A response was provided to ****************** on April 29, 2022.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.Customer response
05/09/2022
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
03/30/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Resolved
I have been getting the runaround from VOYA for almost 3 weeks. My former employer promptly sent over my separation information via email in response to a email sent by VOYA. I check each day and each day I get a different response from someone. It can take a few days, it should be there by 4PM when they update, etc. I don't understand how long receiving an email and updating my account to reflect this correction so I can get my money takes.Customer response
03/31/2022
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,
* *****
*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. ↩
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
Customer Reviews are not used in the calculation of BBB Rating
Customer Complaints Summary
184 total complaints in the last 3 years.
102 complaints closed in the last 12 months.