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Complaint Details
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Initial Complaint
03/11/2024
- Complaint Type:
- Order Issues
- Status:
- Answered
I opened a policy in April 2021 and paid a total of $5,499. When I opened the policy I shared my financial and saving plans and I was told I would be able to take money out of the account to supplement those goals. The agent did not mention that are fees on the account or length of time I WOULDNT be able to take out money. I was told encouraged to sign the contract based on being able to invest and reach my savings goal, at the time I was teaching and was not able to commit to a meeting and I was encouraged to sign the contract based off the information shared and the fact that I would be able to access the money that I had saved. When i reached out to a rep it took weeks to get an answer and when I got one I was told that they were taking the agents words because I had no proof of being misinformed and that I wouldnt not be getting a refund. This was the worst financial decision I have ever made and it has been so disheartening to know that I invested $5,499 and I have no access to it.
Business response
03/12/2024
Due to privacy regulations and our own internal privacy policies, we will be responding directly to the complainant. Thank you.Initial Complaint
03/07/2024
- Complaint Type:
- Order Issues
- Status:
- Answered
I contacted National Live Insurance Company on March 7th, 2024 to obtain Form 1099-R for tax reporting purposes. I gave the agent, ****, the policy number, and I identified myself. **** recognized me as the Attorney-In-Fact for this policy.However, after that point **** refused to provide me with the necessary information on the mentioned insurance policy. He seemed unable/unwilling to get the required information.As Attorney-In-Fact, I am fully authorized to manage this policy.I was connected to ***********************, who further refused to work with me as Attorney-In-Fact.This company's repeated refusal to provide me with requested information is illegal and unacceptable.Business response
03/08/2024
Due to privacy regulations and our own internal privacy policies, we will be responding directly to the complainant. Thank you.Initial Complaint
03/04/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
On November 03, 2023, my agent by the name of ********************* introduced me a life policy in which he stated that my beneficiary would receive upon my passing the death benefit amount plus the accumulated cash amount. The policy number is LS1591095 (Flex Life - Indexed Universal Life) I did question my agent to verify my beneficiary would receive both the death benefit and the accumulated cash amount and he said yes. I have his text messages confirming this as well as him telling me and my wife the same by phone. It turns out, someone told me that information was not true. I called and text my agent again to confirm I would get both quantities. And again, he confirmed I would get both. At this time, I decided to call Nation Life customer service. They confirm to me that I would NOT get both, my beneficiary would only get the death benefit. Not the accumulated value. I text my agent what the customer service person told me, and he said customer service was wrong, He said they did not know what they were talking about. I called another customer service person, and this person also confirmed the information the agent was tell me was incorrect. I asked them why my agent would lie and the told me they don't know. I am asking that my agent by the name of ********************* be investigated as he has sold me a policy by misinforming the detail of the actual policy.Business response
03/05/2024
Due to privacy regulations and our own internal privacy policies, we will be responding directly to the complainant. Thank you.Customer response
03/09/2024
Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered.
I Have not received any sort of resolution from the business. Until now, no one has contacted for any kind of resolution.
[You must provide details of why you are not satisfied with this resolution. If you do not enter a reason for your rejection, your complaint will be closed as Answered.]
Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
FAQ
Regards,****
Business response
03/11/2024
Due to privacy regulations and our own internal privacy policies, we will be responding directly to the complainant. Thank you.Initial Complaint
02/01/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I have several policies with this company.We were going through a tough time as a family trying to have children. It was suggested by my agent to borrow money against my policy as a personal loan to help cover the cost associated with IVF. I do so. In March of 2023, since payment I was send for the loan were not being received on time, I set up a direct withdraw from my bank account, money/payments began being deducted from my account. I have 3 different polices from this company and 3 separate payments coming out of my checking each month. Since I see things coming out of my account monthly, I didn't think twice about anything. I then received on 2/1/2024 a **** misc saying that i have a taxable income of $2138.78. I went back and looked at my bank account and saw payments were coming out/being deducted (2 out of 3 polices) except for the loan payment account which I wasn't aware until today. I never received any communications (written; email, letters, phone calls etc that there was problem with my account and that payments weren't being made). Since this is the case, how was I suppose to know there was problem in the first place?Business response
02/02/2024
Due to privacy regulations and our own internal privacy policies, we will be responding directly to the complainant. Thank you.Initial Complaint
01/29/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I had an account with ********************** and I faxed the forms to do a rollover to a different company on Dec 14, 2023. I had it faxed to the number that National life provided. I called them and let them know I needed this done asap so I don't have to deal with tax forms the following year. My new company that I have my *************** with sent the paperwork January 2, **** for National to do the rollover. I called National back and they told me it would be transferred now later than Jan 20, ****. It is Jan 29, **** and it still have yet to be done. I do not recommend National Life. Their customer service is terrible and they do not do their job.Business response
01/30/2024
Due to privacy regulations and our own internal privacy policies,we will be responding directly to the complainant. Thank you.Initial Complaint
01/14/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
On 11/28/2023 I called National Life to surrender my life insurance policy. I submitted my signed form that day surrendering this policy. I was informed I should receive my the surrendered amount for $1,519.00 months electronically which is less then the 5 year amount of $2,203.00. Owed. I was not given a clear reason why I would not receive that amount. The agent informed I should receive it in approximately 30 days. I called on 12/19/2023 to follow up on the status of my payment. The agent said I needed to update my address. I asked why. When I called to surrender my policy the address was correct. I just moved and I asked for the funds to be sent electronically to my bank account. The agent apologized and said it usually only takes 15 days. Clearly we are way past that. On 1/2/2024 I called and spoke with a manager *************************** who again stated I needed to update my address. I informed **************** that was already done on 12/19/2023. I explained to him once again why arent they releasing my funds. He had no excuse other than the address excuse again. **************** stated he was going to expedite this and that I should received my funds by the end of the week. I informed **************** that if I had not received my funds they I was contacting the BBB. On 1/11/2024 I spoke to Manager ***************************** that I have not received my funds as promised. He again stated my address needed to be updated. I informed him that he was the 3 person stating this and it was already updated on 12/19/2023. I reminded ***************** that the address is not a valid reason when the money is to be sent electronically to my bank. I informed him I was contacting the BBB after our conversation. This company is not being transparent, fraudulent and discriminatory. It is bad enough that Im not getting the amount that is rightfully owed to me without a valid reason. Also, do they make their white clients go through this and having to wait and still not receive payment. Clearly not. Only 15 days.Business response
01/16/2024
Due to privacy regulations and our own internal privacy policies, we will be responding directly to the complainant. Thank you.Initial Complaint
01/11/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I am a recently retired educator with money in a 401 B with National Life. I am very unhappy with the way my account has been handled. First, they have changed agents on me twice without notifying me. The first agent they switched me to in 2021 talked me into changing over to a different policy telling me I could double my money. What he DID NOT tell me is I was under a new 10 year contract which makes it impossible to withdraw all my money without a huge penalty before that time. I told this agent I planned to retire within the next couple of years, if I had known about that new contract, I never would have switched: information NOT disclosed. In 2023, after I retired, I saw that another agent had been assigned my policy, again NOT notified. This present agent is nearly impossible to get a hold of, he doesnt try to help, and didnt even answer my last email. Im not happy with the way my money is being handled, so I went to my local credit union and spoke with a financial advisor because I want to roll over that money into an **** At my request, this advisor attempted to become the agent for my policy so he could manage it better and I could speak to a real person, National Life will not allow this. I feel like my money is being mis-managed and held hostage and I have no control over it. I put that money in my account for 15 years with the hope it would be of help in retirement. I dont want National Life handling this money which is meant for retirement, they are making getting my money VERY difficult. Additionally, when I do call the company, a foreigner with a heavy accent always answers, that makes me wonder whats going on with this company.Business response
01/12/2024
Due to privacy regulations and our own internal privacy policies, we will be responding directly to the complainant. Thank you.Initial Complaint
01/10/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I have been trying to withdraw from my 403B for over a year now and I continue to get the run around. They have made numerous excuses, I have submitted every document requested, emailed, and called numerous times and still have yet to receive my funds. I submitted the most recent documents September of last year once again, they are required to process within 15 days, called and emailed numerous times again, received confirmation again November 29th, called and was told everything was submitted and it would be processed. I called again today, January 8th and was told they still needed documentation again, then told them I had received numerous confirmation over the last several months and asked what the issue was and she proceeds to tell me that yes it should have been processed in September, she did not know why I had not received but that she would make sure it was processed again. It has been well over a year that I have been trying to get my funds.Business response
01/11/2024
Due to privacy regulations and our own internal privacy policies, we will be responding directly to the complainant. Thank you.Initial Complaint
12/11/2023
- Complaint Type:
- Product Issues
- Status:
- Answered
November 27, 2023 I requested to cancel this policy and have the surrender value returned to me. They sent me and my spouse forms which we are immediately signed and returned to them and that was acknowledged that they received the return on November 28, 2023. on November 27 I requested to cancel this policy was also told that the payments were taking from my account would be canceled and would no longer take payments monthly. I was also quoted the amount of my surrender would be $1194.02. I also surrendered value within 15 days. called them again yesterday December 7, 2023 because now its showing a lesser surrender value of $1156.92. The customer service representative stated its probably less because of cost of insurance for my monthly payment and I told her that these were to be ceased already as of November 27 then went to say that it could be another 30 days before I get a refund because theyre running behind. It seems like each time I call I get a different answer and Im starting to feel like Im being scammed.Business response
12/12/2023
Due to privacy regulations and our own internal privacy policies, we will be responding directly to the complainant. Thank you.Customer response
12/12/2023
Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered.
[You must provide details of why you are not satisfied with this resolution. If you do not enter a reason for your rejection, your complaint will be closed as Answered.]
The business has not gotten back to me they avoid calling me I have not heard from them. They just take my message and blow me off. I have been unable to resolve my issues with this place since November 27, 2023.
Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
FAQ
Regards,*****
Business response
01/16/2024
Due to privacy regulations and our own internal privacy policies, we have responded directly to the complainant. Thank you.Initial Complaint
12/07/2023
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
I have been putting money into an educator retirement fund (National Life Group) since January 24, ****. Since August, I have been attempting to take out a loan. I contacted ************* ****************** (*****************************************, *************************** ************) about this possibility. She assured me this was possible, and she sent an application for a loan. I waited two months and reached out to her for an update. She said I completed the wrong application, and she sent a second application. I have completed that application. I am now wishing to remove all the money from this fund to place into a more remunerative account. ****************** has been unreachable since I started pushing for more information, and I am worried my money has been lost. I really want to take all my money out of the account because I no longer trust this group.Business response
12/08/2023
Due to privacy regulations and our own internal privacy policies, we will be responding directly to the complainant. Thank you.
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