ComplaintsforNorthwestern Mutual
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Complaint Details
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Initial Complaint
05/18/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I have been with Northwestern Mutual since about 8/2003. Im just finding out that over several years they have taken over thousands of dollars out of my account. The statement does not show where this money went or who authorize this withdrawal. I have been talking with an representative from this company. He does not answer my question or response to why this happen. I have reached out to him on several occasions.Business response
06/07/2022
The company provided ************** with detailed information regarding the account balance at the time of closure. We consider this matter resolved.Customer response
06/08/2022
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
[Please type your response here.]I am not able to review the response from the business. I have tried several times but is not able to open. I have tried to call the agent who is handling my report. Until I get a response from mt agent I am not responding to this email. Until I can speak with someone about this issues
Regards,
*********************Business response
06/09/2022
The company sent the attachment as a narrative email so the customer is able to view the material that was in the letter attached to the original email.Customer response
06/16/2022
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.Can I cancel my business/account with Northwestern. Have my money sent to me. What about the insurance policy I have with them. Will that still be in affect once Im no longer with them.Thank You***** Smith
Regards,
*********************Initial Complaint
05/17/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I began two life insurance policies 26 years ago. These were life at 90 policies, whole Life, and a large amount of my premiums went to build cash in the policies. I was 30 at the time. My agent sold me on the fact that this would be a way of saving for my kids college, and also that at some point the $4000/yr in premiums would only have to be paid until a sufficient amount of cash and dividends was earned. The policies earned 8% per year in dividends plus interest. After about 12 years, my agent told me that the policies could self sustain because the dividends and interest were 7-8K per year. There was plenty of cash in there and the dividends could be used instead of me paying the premium. Having extra cash value only adds to the face value, which I didn;'t need. However when my Agent retired about 5 years ago, everything changed. First Northwestern Tried to Terminate my policy for non payment even though I maintained an auto pay if needed, and then I received a restatement and started receiving "loan statements" reflecting that instead of using the cash value in my policy, they financed my premiums using the Cash value as the collateral, and basically paid themselves 8% interest on the premiums, and then that compounded and rolled that interest into a new loan, so that they earned interest on interest. So now instead of honoring the policy they sold me, they managed to take all of my cash value out of it. The premiums that were paid were less than the total cash available, so this was all interest Between both policies it is over $135K. the loans are slightly under that. There should never have been premium loans as that would have been paid out of the cash Value. The reason for them to do this is so that they earn back the interest that they are supposed to be paying me. This is outrageous. They should immediately restore the records as they should have been and off set the loan with the cash value, and stop taking my money.Business response
05/31/2022
The company has contacted this individual to address their concerns including providing the history and details of their account. We consider this matter resolved.Customer response
05/31/2022
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
Please not that they are submitting 26 year old paperwork and haven't commented on any of the complaint.. This is what they did to me, they overnighted 1 stack of paper, none of which I ever saw beofer.There were multiple ways to handle the premiums to be paid, and my broker was very clear as to how they should do it, and the company recorded it in such a way so that they could consume alll of the growth from my cash.
Regards,
****** TirellaCustomer response
06/07/2022
he better business bureau should not be siding with la tree corporations against the individual. They claim that they answered the complaint, do you even read it. They did not address not one of the issues.************* is funded by the government then you have an obligation to actual look into these matters.I wont rest until northwestern is held accountable and now your agency as well. Dont be manipulated by corporate payers****** TirellaInitial Complaint
03/24/2022
- Complaint Type:
- Customer Service Issues
- Status:
- Unanswered
I have had no reply from Northwestern Mutual Insurance company even though I have been paying disability premiums to their company for over twenty years.Initial Complaint
02/04/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
After paying Northwestern Mutual thousands of dollars for my premium for disability insurance over the last two years, they refused to process my claim. I opened the claim three months ago due to anxiety and vision issues, and provided Northwestern Mutual all the paperwork they have asked for. Now they are refusing to process my claim. Further, the claim analyst never responds to my phone calls. This is a highly unprofessional and unreliable insurance company.Business response
02/15/2022
We have confirmed with the individual that the company is actively pursuing information to continue to evaluate the claim.
Initial Complaint
02/02/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
On March 5th 2021, I physically returned my individual whole life policy (#********) under the Right to Return Policy that states the Policy may be returned by the Owner for any reason within ten days after it was received. and "If returned, the Policy will be considered void from the beginning. Any premium paid will be refunded."The policy was mailed on March 5th 2021 and delivered to Northwestern Mutuals headquarters in ********* on March 8th 2021. Despite having proof of delivery (Tracking #: 1Z373R1V0348220781) and communicating this to my financial advisor (*******************, CLTC, CA License #******** over phone calls and text messages this request was ignored and my banking account was charged the $12.855.32 annual premium.I did not realize this until August 20th 2021 as I was in ****** mourning a family death and recovering from COVID-19. Since this was 5 months later, I had forgotten I returned my policy because my phone was stolen and I couldn't backup my data (including text messages) until I returned to the ***. So I communicated to ******************* that I wanted to cancel. We jumped on a call and after she explained the benefits of whole life insurance, I made it very clear I still wanted to move forward with cancelling it. She said she understood and would start the process.I never heard back from ******************* about cancellation, so Im currently trying to resolve this with *************************** by providing documentation on the entire ordeal but its ridiculous that my policy was activated considering the entire package was returned and no policy delivery acknowledgment was ever signed.Initial Complaint
01/24/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
Northwestern Mutual employee *********************** was informed in writing I do not need his sales pitch. That was the end of the communication, or so I thought for a few months.He had his assistant pull my phone number from LinkedIn and harass me to get contact infor for colleagues or me to purchase their products.Business response
01/25/2022
Contact was attempted to resolve the matter, but the individual was not responsive. Representatives of the company have been advised not to contact the individual, and the individual was advised to register on the National Do Not Call registry.
Initial Complaint
10/30/2021
- Complaint Type:
- Billing Issues
- Status:
- Answered
I have been a client of NM for 6 years and I have a life *********************************** policy. I recently submitted a disability claim for benefits on September 10, 2021. I have received packets via mail and emails regarding documents needed to process my disability claim. I have submitted all documents including tax documents (2017-2020) and release of my medical and psychotherapy records authorization forms online on their website. I also have phone conversations with **************** (representative working on my claim) of any additional materials needed to process my claim. On Oct. 8, I received an email from NM of additional tax documents (2014-2016) needed for further review. I spoke with **************** and informed her that I reached out to IRS and they don't have copies of my tax forms for those years and was unable to get the request. I didn't understand why they needed the forms as my income has changed on June 30, 2021. **************** informed me that she will continue to process it and will request my full medical records. She reached out to me a few days later to advise me that I wouldn't receive a full benefit due to my income not being lost in the prior years but will look into me receiving half of my benefit for six (6) months and then if I am still without income it will be converted to the full amount. As of Wed., Oct. 27, I have reached out to check the status on my claim and was told that they are still waiting on my medical records from my MS doctor. I called my doctor's ****** and they informed me they have not received any request from NM or their third-party company Release Point. I called NM back the same day to inform them my doctor didn't receive the request and they claim that they sent it as of October 8, 2021. We've verified all contact info for my doctor's ****** and still my MS doctor hasn't received anything. This has become stressful and I'm still without any update if my records were received. I want this resolved ASAP!!!Business response
11/15/2021
Last week we communicated with ************************ that her doctor had forwarded the records we had been seeking. We will reach out to her once our review is complete.Initial Complaint
10/15/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Working with northwestern mutual and financial advisor *******************, I started a cash value life insurance account that I was told would accrue 5% interest. Before agreeing to set up this account, I confirmed with **** that If I wanted to close the account for any reason, I would be refunded all money that i invested in this account. Once he assured me that I would, I opened the account and started contributing $500/mo for a total of 5 months. On the 5th month, I decided to close this account after I had found other concerning BBB reviews from other northwestern mutual life insurance customers, along with little research on the benefits of using this as retirement savings. To sum it up, I was promised multiple times that I could access and withdraw any money invested in this account and close any time. Also at the time of closing, he assured me that Id get everything back.Northwestern mutual owes me $2,500. According to our agreement they owe me that plus 5% interest.Business response
11/12/2021
We are completing the steps necessary to investigate this matter and will share information with the consumer shortly.Initial Complaint
10/13/2021
- Complaint Type:
- Product Issues
- Status:
- Answered
Over the month of May, three unauthorized payments were taken out of my account by NorthWestern Mutual. May 3- $70.91, May 7- $66.36, May 28- $66.36, Totaling $203.63.I lost my job on June 10, 2021. I reached out to ********************* (lic: *******) on June 29, 2021, and asked to have the policies canceled because I could no longer afford them. I also requested a refund for the unauthorized amount. I would like to have my policies canceled and receive a full refund. NW Mutual will claim that my policies lapsed in an attempt to keep my money. I also dont want anyone else to get scammed by this company or Financial Advisor ********************* (lic: *******). Thank you for your assistance. I attached our entire LinkedIn correspondence, the letter I sent to NW Mutual, my bank statement, and the newest letter I just received from NW Mutual this week, October 11, 2021.Business response
10/25/2021
We have sent ************ a letter resolving her issue.
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Customer Complaints Summary
51 total complaints in the last 3 years.
20 complaints closed in the last 12 months.