ComplaintsforAtlantic Coast Life Insurance Company
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Complaint Details
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Initial Complaint
06/24/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
In April This company was contacted to transfer policy to a different company; it is June 21 and still no transfer. My agent and I have tried repeatedly to get this resolved to no avail. I have sent several signatures and complied to their hoops so to speak to get this accomplished. I have been told it was a clerical error to now no one giving me info as to what the holdup is. I understand them wanting to safeguard me but when you state repeatedly you wish to transfer and still getting the runaround you get frustrated to no end. They have taken $31,000.00 out of my policy and sent tax documents to you and the IRS yet no transfer. Please advise me as to what steps are needed on your behalf to aid me in this.Business response
07/18/2024
To the Bureau:
Atlantic Coast Life is in receipt of your request for a response to the above-mentioned inquiry. Please see the following Company
position:
The Company issues a conservation period for early withdrawals and surrenders that could result in charges to the client to process.
Requests will be paused to allow the client time to review the impact of their request and determine a final decision.
Processing delays will also occur if the Company cannot confirm signatures for withdrawals or surrender requests. The processing
center requested signature verification from the client which did result in an additional processing delay on this account.
These processing delays are designed to protect the best interests of our clients.
Ms. Music’s transfers were processed on May 06, 2024, and June 26, 2024.
We hope this summary helps resolve this matter with Ms. Music and the Bureau.
Atlantic Coast Life reserves the right to supplement this letter.
Respectfully,
Briana I*****
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Contact Information
Customer Complaints Summary
7 total complaints in the last 3 years.
3 complaints closed in the last 12 months.