BBB Business Reviews may not be reproduced for sales or promotional purposes.
Customer Complaints Summary
6 complaints closed with BBB in last 3 years | 1 closed in last 12 months
Total Closed Complaints
Advertising / Sales Issues
Billing / Collection Issues
Problems with Product / Service
Guarantee / Warranty Issues
Total Closed Complaints
Additional Complaint Information
Platinum Services, Inc. a/k/a Platinum Supplemental Insurance is an Iowa business corporation based in Dubuque, Iowa which conducts business in the Midwest selling supplemental insurance products. This entity is in no way affiliated with or related to National Platinum Member Services which appears to sometimes do business as "Platinum Services." The name similarity has caused some individuals to confuse the two companies. If you have a complaint against Platinum Member Services, please contact the BBB in Reno, NV by visiting their website at www.reno.bbb.org.
Complaint Salesman said we would have opportunity to look over "paperwork" & have to sign and return before anything deducted from checking account-NOT TRUE. 8/26/2013 Salesman showed up at our house for the third time as we finally agreed to talk to him. Went through all the information and we said we might be interested in the one policy and he said we needed to fill out the paperwork while he was here, but also assured us that we would have opportunity to look over "paperwork" & would have to sign and return before anything was deducted from my checking account. The "paperwork" was the actual insurance policy and the premium deduction was taken out of my checking account the same day we received the "paperwork" in the mail. I was not expecting this deduction to come out of my checking account and it cause me to have an overdraft and NSF charges. I had to verify with my bank and since this was on a Friday and I did not find out about it until over the weekend 9/6/13, I called my bank first thing on Monday morning 9/9/13 to find out what caused the overdraft and traced it back to this insurance policy. I called Platinum's customer service and they were friendly enough and had no problems putting my "cancellation" through once I mailed or faxed them a written request, which I faxed to them the very next day 9/10/13. I'm being told that it will take them "at least" 2 weeks from the date they receive the cancellation. And when I told them it cost me an NSF fee of $32 from my bank I got no response out of them. So I guess I should count myself lucky if being without my original money for a month and costing me $32 is my only penalty for trusting people! I will be filing another complaint if I do not receive my October 7th which would be 1 day shy of 4 weeks from the date I faxed the cancellation to them on 9/10/13.
Desired Settlement I just want my money back! I'd also like for them to reprimand their salesman for lying!
Business Response Platinum Supplemental Insurance, Inc. ("Platinum") is an insurance agency that markets supplemental insurance products through a network of independent contractors. Mrs. *******'s complaint centers around an allegation that the independent contractor (salesperson) stated they had time to look over the paperwork before anything would be deducted from their account. Mrs. ******* states that this deduction caused them an overdraft and NSF. They have since canceled their policy and the insurance underwriters, ********* ***** **** Insurance Company, ("GTL") has refunded all monies paid into the policy. Mr. and Mrs. *******'s application for Cancer, Heart Attack and Stroke supplemental insurance policy was submitted on August 29, 2013. On or around that time of submission, Mr. and Mrs. *******'s bank account was drafted to activate the policy. Mrs. ******* provided evidence that this caused the overdraft with their bank. We notified the independent contractor of these allegations and requested his response. The independent contractor misunderstood when the policy would initial draft. In any event, it seems that there was a misunderstanding as to when the application would be submitted and when it would draft. Consequently we have refunded Mr. and Mrs. ******* the overdraft fee incurred. We regret any misunderstandings that may have occurred.
Complaint We thought we were expanding our policy for better coverage. In fact we were sold a policy that was worthless to us. An Agent of Platinum, David Nelson, told us we were improving our policy for better coverage and that it would cover both of us, *** and myself, Mary. *** was seeing a doctor for enlarged prostate. When surgery on his prostate was discussed, the doctor decided to do a scope of his bladder. A tumor was found. Surgery in April 2014 showed he had cancer. When we filed our insurance forms, after several long phone calls with the company, they refused to pay because they said *** had cancer before. *** has never had cancer and was seeing the doctor because of enlarged prostate. They did not call back when they said they would. Just a worthless company that gives you a run around.
Desired Settlement We were paying a premium of $165.08. We are retired with a fixed monthly income. A refund of all our payments would help pay for ***** surgery and treatments.
Business Response Platinum Supplemental Insurance, Inc., ("Platinum") is an insurance agency that markets supplemental insurance products through a network of independent contractors. Platinum works closely with an insurance carrier to assist customers through the claims process when there are issues, but it is the insurance carrier that makes all claim decisions and handles payments of claim benefits. It is our understanding that the insurance carrier has reached out to the customer with some additional options.
Consumer Response (The consumer indicated he/she DID NOT accept the response from the business.) I expected this response from the company. I have no further information that I want (or can say publicly) to this company except I think this company and the other is worthless.
Complaint They lied to me numerous times. Then they withdrew funds from my banking account after i canceled my account. On Jan. 16, 2014, Platinum sales representatives,**** **** and ****** ****** came to my home selling insurance. My wife and I took out a policy. **** told me that if we ever wanted to cancel all we had to do was call and cancel. **** and ****** made a note saying that my first payment would be processed Feb.1, 2014, and that somebody would call the next day to confirm this. I never received the call. On either Jan. 21 or Jan. 22, I called the company to cancel my policy because they had already lied to me. They told me I had to fax or mail a letter stating I wanted to cancel my policy. Thats not what **** had told me.The next morning I mailed a letter. They said they never received it. On Jan.29 I called to get a fax number so I could fax the letter. On Jan.30 they took money from my account causing me to be over drafted. It was not supposed to come out til Feb. 1 to begin with, but it never should have came out to begin with. Also on Jan. 30 I faxed the letter because I still had time before Feb.1. I again called the company and they said they had not received my fax. They told me that **** had told them to process my account on Jan. 24. I went to my bank and filed an affidavit against Platinum. This company dis nothing but lie to me repeatedly.
Desired Settlement My payment of 255.78 and my overdraft charges.
Business Response Platinum Supplemental Insurance, Inc. ("Platinum") is an insurance agency that markets supplemental insurance products through a network of independent contractors. Mr. ****'s complaint centers around cancelling the policy he and his wife applied for with independent contractors Mr. **** **** and Mr. ****** ***** and when the monthly payment would be drafted. Mr. **** applied for a family cancer, heart attack and stroke policy with Mr. **** and Mr. ***** on 01/20/2014. Mr. **** contacted Platinum's Customer Service on 1/21/2014 to cancel the policy. Per the policy language approved by the ******** Insurance Department, a written request must be submitted to the insurance company to cancel the policy. No such written request was received until 02/04/2014. Mr. ****'s policy was issued as a family cancer, heart attack and stroke policy by the underwriting insurance company ********** ***** **** Insurance Company ********** on 01/24/2014. At that time, *** drafted the first month's premium to activate the policy. In any event, it seems that there was a misunderstanding as to how a customer must cancel the policy and when the first draft would occur. We have asked *** to refund all premiums that have drafted but we cannot guarantee *** will refund the premiums. We regret any misunderstandings that may have occurred.
The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Des Moines, IA. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.
*Platinum Supplemental Insurance Inc is in this range.
BBB records show the issues raised in the complaint have been resolved. Either customer confirmed the complaint has been resolved, or business confirmed the complaint has been resolved and customer did not respond to BBB correspondence informing customer that complaint will be considered resolved unless BBB hears otherwise from customer.
BBB found business made good faith effort to resolve complaint but customer not satisfied with business response
BBB found that business adequately addressed the disputed issues and made a good faith effort to resolve them; however, customer has informed BBB that he/she is not satisfied with the outcome. In some cases, business may have agreed to mediate or arbitrate the complaint but customer declined to participate in mediation/arbitration.
Customer not satisfied with business response; BBB did not find business made good faith effort to resolve complaint
BBB did not find that business adequately addressed the disputed issues and made a good faith effort to resolve them, and customer has informed BBB that he/she is not satisfied with the outcome. In some cases, customer may have agreed to mediate or arbitrate the complaint but business declined to participate in mediation/arbitration.
BBB did not receive a response from business
BBB did not receive a response from business after two attempts to contact business, and BBB communications with customer do not show that business contacted customer to resolve the complaint.
BBB cannot process complaint
This includes situations where BBB cannot locate business, business is no longer in business, or business is in bankruptcy and complaints must be submitted through bankruptcy trustee.
Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.
BBB promotes truth in advertising by contacting advertisers whose claims conflict with the BBB Code of Advertising. These claims come to our attention from our internal review of advertising, consumer complaints and competitor challenges. BBB asks advertisers to prove their claims, change ads to make offers more clear to consumers, and remove misleading or deceptive statements.
Some Better Business Bureaus offer additional content and services in BBB Business Reviews. The additional content and services are typically regional in nature or, in some cases, a new product or service that is being tested prior to a more general release. Not all enhanced content and services are available at all Better Business Bureaus.
BBB Customer Review Rating plus BBB Rating Overview
BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.
Customer Review Experience
5 points per review
3 points per review
1 point per review
BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business. Details
BBB Letter Grade Scale
Star Rating scale
BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.
We offer free reviews on businesses that include background, licensing, consumer experience and other information such as governmental actions that is known to BBB. These reviews are provided for businesses that are BBB accredited and also for businesses that are not BBB accredited.