ComplaintsforAthene Annuity & Life Assurance Company of New York

• Initial Complaint

  06/18/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  In April, 2024, it came to my attention that my monthly annuity distribution has been reduced from approximately $1000/month to $600/month. After a further review, it appears that the distribution has actually been altered since December, ********************************************* the month of March, 2024. My financial advisor contacted this branch in *******, ** and was told that the reduction happened because 2 withdrawals were made--one in November, 2023 and another in January, 2024 and these withdrawals were deposited to my cash account of record. There have been no deposits and no authorization to make these withdrawals. My advisor and I have been in contact with this branch multiple times both by phone and mail, and I was told that there was a computer glitch in November 2023 and they are "working" on it. I have contacted the legal department in **********, ** with no response. I have asked to talk to a manager, with no call backs. I have also filed a complaint with the State Insurance Commissioner in *******. This distribution has been incorrect for over 6 months now, and it needs to be resolved immediately.

  Business response

  06/24/2024

  Thank you for the opportunity to review and respond to our customers concerns.  ********************** is required to maintain physical, electronic and procedural safeguards in compliance with applicable laws and regulations to guard our customers personal and non-public information.  Therefore, a response was mailed directly to ****************** at her address of record.  

• Initial Complaint

  01/25/2024

  Complaint Type:

  Order Issues

  Status:

  Unresolved

  More info

  I have an Annuity with Athene which is about to mature. Athene sent me paperwork dated 12/11/23 for me to fill out without any instructions on how to fill them out. The form is used for different reasons and for different type of circumstances. I filled out the 3 pages the best I could and faxed it to them. A week or so later I got another packet dated 12/21/23 with more forms to fill out. This time they gave me the previous form again and a Trust Verification form with the following instructions. Written/signed request is required to make changes. Please update. What do this mean? I called the company to ask for help filling out the form. The lady I spoke to went line by line for the first set of forms. I thought we were done when I realized I didnt go over the Trust Verification form. I called back and spoke with a different person. I explained what happened. For some reason I was told by this person that other person I talked to didnt instruct me correctly. I asked her why did I received the extra form to fill out (Trust Verification). I asked to speak to a supervisor since I didnt know who to believe. I was told she couldnt transfer me to a supervisor but she would put in a request for a supervisor to call me. She asked why do I need to speak to a supervisor? I told her I dont know who to believe and I have a complaint. She told me a supervisor will contact me. I called on 12/29/23 since the supervisor never called me, I was told the supervisor had called and left a message. I checked my phone and there were no messages nor missed calls. I was told a supervisor will contact me. On Jan 4, 2024 I called again since no supervisor called. Once again, I was promised a supervisor would call but they didnt. This time the person scheduled an appointment for a supervisor to call me on 1/19/24 at 8:30am. On that day I called around 10:00 since no supervisor called. I was told I was in the queue for a supervisor to call me. This day has past and I never got the call. On Monday 1/22/24 I called again this time I was told I could not speak to anyone since I could not give my full correct name that was on their document, I signed over 10 years ago. I asked to speak to a supervisor and was told they would take my name and number and have a supervisor call. I did tell this person if my annuity is miss directed, I am suing her and the company.

  Business response

  02/12/2024

  At Athene, our integrity and reputation depend on our ability  to do the right thing. The Company is committed to promoting a culture that encourages compliance with the law and all our policies and procedures. We will
  contact the individual separately to respond to any concerns.

  Customer response

  02/12/2024

  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]

  They have not tried to call me that is why I wrote this complaint 

  All they have done is send me the same paperwork with general instructions that does not help

   

   

   

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

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

• Initial Complaint

  08/21/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I made a withdrawal request 7/21 and Athene incorrectly closed my account and sent me a check for the wrong amount despite the application stating *************** Transfer (***). I have called them 9 times over the last month and am told my application I re submitted on 7/31 was "in processing, should take 2 - 4 days". Still no transfer. Everyone I spoke with tells me a different and incomplete story.7/31 spoke with *****. Check was cancelled. New application submitted.7/31 spoke with ******. Asking for status. Am told 2-4 days for ***. 8/8 spoke with Trinity. Asked for status. She said "soon". She said 2-4 days. When asked to speak with a manger or supervisor, she said "nobody there to help me".8/8 spoke with *****. He told me 2-4 days.8/10 spoke with ********* (sp?) aske me to verify what my withdrawal was for.8/11 spoke with ****. She said my application was not in processing.8/14 spoke with *****. He told me application was being "rushed".8/15 Spoke with ****************** Said application was "in processing" and should take 2-4 days. I told him I've been hearing that for two weeks. He said he would call back. Never did.8/18 spoke with *****. She said the application was "in processing" and should take 2-4 days.I want the *** of my money to occur today.I want an explanation of why it took so long.I want to speak with a supervisor or manager that can solve my complaint today (8/21).I want a written letter of apology from a Senior Vice President including what they will do to resolve my complaint and how they will improve their customer service.

  Business response

  08/21/2023

  Thank you for the opportunity to review and respond to our customers concerns. We are currently researching the matter and will be mailing him/her our response soon.  To protect the contract owners privacy, we will provide a written response directly to him/her by ************* Postal Service.    A response will not be posted to this site

  Customer response

  08/22/2023

  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] The generic response is unacceptable. From my conversation with Athene yesterday to further clarify a new error on their part has only exacerbated the issue.

   

   

   

   

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

  
  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. ↩