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Upstate South Carolina

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A BBB Accredited Business since

BBB has determined that Athene Annuity & Life Assurance Company meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 16 factors. Get the details about the factors considered.

Factors that raised the rating for Athene Annuity & Life Assurance Company include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 25 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.
  • BBB has sufficient background information on this business.


Customer Complaints Summary Read complaint details

25 complaints closed with BBB in last 3 years | 11 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 4
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 21
Total Closed Complaints 25

Additional Information

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BBB file opened: June 21, 1990 Business started: 01/01/1906
Licensing

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Insurance Commission
1201 Main St. Ste 1000, Columbia SC 29201
http://www.doi.sc.gov
Phone Number: (803) 737-6160
Fax Number: (803) 737-6205
CnsmMail@doi.sc.gov

Business Management
Mr. William E. Barr, Dir., Marketing Administration Mr. David Black, President Mr. Edie Casey, Administrative Assistant Mr. Bob Corby, Customer Advocate Mr. Bill Free
Business Category

Insurance Companies

Additional Information

Consumers have reported to the BBB that they have received a letter with a check from RBC Financial out of Canada concerning an award claim notification stating that they have won $125,000. The check sent to the consumer is for $4,850 in which the consumer is to deposit the check then money gram $2,950 to the award claim contact to pay for taxes. This is a scam. The RBC Financial Group has asked consumers to call 1-800-769-2555 or 1-800-661-1275 or email
information. security@rbc.com for any concerns they may have concerning fraudulent behavior.

Industry Tips
Annuities

Additional Locations

  • 2000 Wade Hampton Blvd

    Greenville, SC 29615 (864) 609-1000 (800) 435-3520

  • P O Box 1389

    Greenville, SC 29602

  • 1
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Additional Phone Numbers

  • (800) 435-3520(Phone)
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Complaint Detail(s)

8/25/2014 Problems with Product/Service
8/12/2014 Problems with Product/Service | Complaint Details Unavailable
8/6/2014 Problems with Product/Service | Complaint Details Unavailable
7/14/2014 Problems with Product/Service | Complaint Details Unavailable
5/12/2014 Problems with Product/Service | Complaint Details Unavailable
5/12/2014 Problems with Product/Service | Read Complaint Details
X

Additional Notes

Complaint: I purchased an Athene 8 annuity approximately two years ago, initial investment of $100,000.00. It was purchased through Insured ****** **********, with **** ******** the selling agent. My wealth advisor is **** *****. He and I work together well. I also bought five other annuities through this firm to insure that in my retirement I would never run out of cash. These five annuities will provide me a never ending pension, and presently on monthly point to point to determine the rate of growth. The Athene annuity was purchased with some funds that I planned to use in year eight of my retirement, so we chose this annuity for growth rather that a constant income stream.From the get go we have had problems with Athene. When we decided to purchase this product we were told the rate promised was about to be expire and be reduced. I had to purchase it by a certain date to insure we got the higher rate. We sent in cash with application via ******* ******* so we could insure that the application and the funds arrived at Athene before the announced date of the rate reduction. It took them about a month to issue the policy. Once the annuity was issued Athene claimed we didnt get it in time and tried to give me a lower rate. After ***** ***** got involved and we proved our case and threatened to free look the contract, they gave me the rate he applied for. It was 3.5% with a $2000 bonus. We chose that rate since it was guaranteed and five times what the bank was paying. We planned to convert it to monthly point to point if the stock market rose knowing that the 2% bonus was only paid the first year. **** ***** showed me a calculation of purchasing this annuity versus leave the money in a FDIC insured account. It showed with keeping the fixed rate of 5.5% and the second year reverting to an average point to point rate that if I needed to cash in the annuity after two years it would pay about what the banks were paying. If I didnt need this money this strategy would pay a rate much higher that I could get at a bank, thus no risk only reward. It is important to know I had sufficient cash assets to last me three years and I would only need this money in the event of an unexpected expense. It actually came down to issue the annuity at the promised rate or return the cash. They in fact kept my money for over a month without paying me anything. They used my money for free.Fast forward 1 year. I get my renewal letter, and call my wealth advisor and asked him how to fill out the form. We live near each other and my house is on his way home so he said he would stop by my house and show me how to fill out the form. Within a couple of days **** ***** came over to my house and we did our yearly review. We decide to keep our plan and change the annuity from the fixed rate to the monthly point to point. **** actually filled out the form and told me to fax it to Athene. He and my wife were present and witnessed me fax the form to the number listed on the renewal letter. The fax machine indicated it went through without problems so I assumed all was well and we had followed our initial strategy.Fast forward to this year I did not get my renewal statement this with current caps and option to change strategy. If I would have received that, I wouldve known a month ago what was going to happen when I got his annual statement. The annuity was never moved to the monthly point to point. It stayed in the fixed account all last year. Athenes policy indicates that to change interest calculations that must be done before the policys anniversary. So they killed two birds with one stone, I didnt get the approximately 9.4% instead of the 2.5% for 2012 and I cannot change the rate for 2013, it is fixed at 2.5%. I called **** ***** and he decided to have a conference call with Athene. The call was recorded by Athene.Giving Athene the benefit of the doubt, we called and spoke to the rudest uncaring representative I have spoken to in my life! She could care less that I was out of my deserved crediting and basically gave us the tough luck routine. I ask to speak with her supervisor, she continued to argue with us and finally after realizing we were serious, passed us on to ****** *******. We had a good conversation with *** ******* and he assured us he would get to the bottom of this and get back to us by the end of the week and call me back personally! He was also going to mail me a renewal statement so he could change his allocation for 2013. This was last week. As of this Tuesday we had not heard back, I emailed ****** for an update since we were assured we would here back by Friday. Tuesday comes and goes. Nothing, no call back, no email back, nothing. Wednesday comes and nothing, finally **** ***** places a call to *** *****. He doesnt call him back either. Finally Thursday afternoon, one of *** ****** reps (I believe the same girl we complained about in the first place) called me back to tell him the bad news. Compliance reviewed it and are denying his claim and in not so many words called me a liar. As of today he still has not received anything in the mail from Athene.

Desired Settlement: I am filing this with BBB and the state of ***** Insurance commission in hope to get Athene to honor our agreement. I feel I did and I was instructed and it not my responsibility to go to Atlanta and receive my fax and make the necessary changes to my annuity.Both **** ***** and I have email trails that shows there ignoring our emails and my mailman will testify I asked him to bring anything he gets to me from Athene to my door. He promised to sign and date the delivery.If I do not get the satisfaction of getting the point to point rates for years 2012 and 2013 I plan to file a class action suit against Athene to get what I deserve. I will only drop the matter when a Judge tells me he sides with Athene.

Business Response:

)
 

****** 

I write to confirm our recent telephone discussion related to the above referenced matter.  I have personally been in communication with *** ****** and I believe we are close to a resolution that will adequately address *** ******’s concerns raised in his BBB letter with your office.  I will make a note to advise you once the matter has been finalized.

 

Please don’t hesitate to contact me with any questions or concerns.

 

Regards,

 

 

********* 

 

cid:image003.jpg@01CEC343.A2BF8A50

********* ** ******

Vice President - Litigation

Athene USA

**** ***** ***** **** * ******* **** *** ******* ** **********

************ ******** ************ ****** ************ *****

Email:  ***************************

BBB's Final Determination: Business offered a resolution. Consumer did not pursue further with BBB and the matter was assumed to be resolved

4/28/2014 Problems with Product/Service
11/12/2013 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I would sincerely like for you to investigate the recent events concerning the cancellation of policy with Athene Annuity. Approximately ten years ago I took a life insurance policy out on my son **** *******, with Liberty Life. In August 2012 I discovered that the policy was cancelled although I though the $10.00 and some change was being drafted from my account as it has always been done. At that time I also discovered that Liberty Life was presently being owned and operated by Athene Annuity. Upon speaking with Athene Annuity it was discovered that they somehow had my incorrect address along with an incorrect bank account number. So according to them they had been mailing information to the incorrect address. At that time they sent me reinstate papers to reinstate the policy and stated that my son **** ******* had to file out the papers, not me, and that he could sign a paper they mailed for me to handle the account. They said I could not be the one taking out the life insurance policy on him. The when I sent in the recent mail papers **** had to fill everything out. They told me I was not allowed to take out a life insurance policy on my son because he was over eighteen at the time I took out the policy therefore, **** filed out the papers including the paper given me permission to handle the policy, he did, and the money was paid forward. They initially cashed the check and reinstated the policy, but then a noticed a few months later they had cancelled the policy again. They refused to talk with me, although, **** had sent a release form with their letterhead given me permission to handle the policy since I was the one who opened the policy and had paid on it for years. As I continued to follow up on the policy it was canceled again. As of today the policy is still cancelled and they refused to reinstate. I filed a complaint with the ******** ********* ********** and because Athene Annuity submitted a letter claiming they had sent it to me in 2012 when they claimed to me they did not have the correct address or account number. This was supposed to have been the reason the account was closed. They drafted from the wrong account number and sent the notices to the incorrect address; however, they submitted a two letter to ******** ********* ********** with the exact same date, one went to an incorrect address and the other to the incorrect address. The falsified the letter to the correct address but the ******** ********* ********** referred me to you because they said they can only go by what the company submitted to them and they said that since I open the policy and not my son, there was nothing they could do. So I am asking that you investigate this fraudulent practice of Athene Annuity. I believe that when they took over Liberty Life they went through the policies and certain ones they decided they did want and purposefully draft the wrong bank account and sent letters to the wrong address. I have my bank statement if you need them and it would show that I had well over $10.25 during each month they should have drafted my account. Thank You

Desired Settlement: Restore the policy back to its rightful place before they mixed up the address and account numbers and list me, Alice McCurdy as the policy holder and **** ******* as the one the policy is on as it initially was when I open the policy with Liberty Life or that they replace the money I have paid them which is over $1,000.00.

Business Response:
Protective Life Insurance Company Administrator for Athene Annuity & Life Assurance Company
201 W McBee Avenue, Suite 400
October 4, 2013

*** ***** *******
Dispute Resolution Director
Better Business Bureau of Upstate South Carolina
408 North Church Street, Suite C
Greenville, SC 29601

Re: ID No:*******
Complainant: ***** ******* Insured: **** ******* Policy Number: *********

Dear *** *******:

This letter is in response to your September 26, 2013, correspondence regarding the above referenced complainant. Please note that effective April 29, 2011, Protective Life Insurance Company became responsible for the benefits outlined in this life insurance policy and also provides administrative oversight. *** * *** ******* filed complaints earlier this year with the ******** ********* ************** regarding this issue. The ******** ********* ************** has reviewed the situation and found no violations have occurred. Copies of the complaints and responses are attached for your review.

If you have any questions regarding this response, please do not hesitate to contact me at ************ or directly at ************.

Sincerely,
Sr. Special Investigator
Enclosures

BBB's Final Determination: Business offered a resolution. Consumer did not pursue further with BBB and the matter was assumed to be resolved

BBB Comments: The consumer did not reply back to the BBB within its timeframe to accept or reject the company's response.

10/14/2013 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: On 8-23-2013 I spoke to a representative regarding cancellation of Life insurance policy due to the fact that my premium was to increase from $61.51 to $106.49. I was advised to write in a request. On 9-10-2013 I spoke to "*****" and she mentioned that Athene received my request and that the draft was stopped on 9-4-13. And was assured that No funds would be deducted from my account."Yet, I have been receiving a paper bill for the amount of $106.49I again for assurance sent another request for termination. However on 9-19-13 I received a letter stating from Athene that my request was STILL in need of a different request form in order to terminate. I was assured that it had been terminated on 9-4-2013! I faxed this request form from Athene and mailed also, on 9-19-2013. In such request I stated to Athene that if funds were drafted from my account I would pursue further action.On 9-23-2013 Athene deducted from my account the amount of $61.51 fraudulently, without my consent! I will next pursue further action filing a complaint with the Attorney General of South Carolina Insurance fraud Department.

Desired Settlement: I would like the amount of $61.51 drafted from my account fraudulently refunded. And my life insurance terminated immediately.

Business Response: Protective Llfe Insurance Company

Administrator for Athene Annuity & Life Assurance Company 201 W McBee Avenue, Suite 400
Greenville, SC 29601

October 1, 2013

*** ***** *******
Better Business Bureau
408 North Church St, Suite C Greenville, SC 29601

Re: Complainant: ******* ********
Insured:******* ********
Policy Number: **********

Dear *** ********

Please note that effective April 29, 2011, Protective Life Insurance Company became responsible for the benefits outlined in this life insurance policy and also provides administrative oversight.
We write in response to a complaint to your office by *** ******** on September 23, 2013, regarding the above referenced policy. We appreciate the opportunity to respond.

*** ******** called our customer service center on September 24, 2013 concerning the $61.51 draft from his bank account. Our customer service representative informed him we did not draft policy********** in the month of September and the premium on this policy was $26.26 and not $61.51. *** ******** stated he did have two insurance policies drafting from his account, one for $26.26 and one for $61.51. He thought this policy was the one that was drafting for $61.51. Our representative confirmed for *** ******** that he had cancelled the policy that was drafting for $26.26 and we had no record of any other policy on *** ********. The representative advised *** ******** to refer to his bank statement and contact us if the draft for $61.51 is being drawn by Athene Annuity so we may locate the policy it is drafting for. We have no record of *** ******** since contacting us via mail or phone in regards to the above draft.

If you need additional information; You may contact me at ************** or by e-mail at

Sincerely,

***** *******, Manager Customer Communications

BBB's Final Determination: Business offered a resolution. Consumer did not pursue further with BBB and the matter was assumed to be resolved

BBB Comments: The consumer did not reply back to the BBB within its timeframe to accept or reject the company's response.

10/14/2013 Problems with Product/Service | Complaint Details Unavailable
9/4/2013 Billing/Collection Issues | Read Complaint Details
X

Additional Notes

Complaint: I have been a customer of ******* **** for mny years. Athene Annuity acquired them recently and billing had been horrendous. Since the acquisition by Athene Annuity I have received multiple notices advising that my insurance will lapse if payment is not received. Payments were paid via Fifth Third bill pay in the padt 3 or 4 months (up until July 2013) paid via *** **** bill pay. The checks were cashed by Athene Annuity. I request copies from my bank fax it over and problem resolved... Until the next time. Letter received threatening lapse of insurance if payment isn't received. Called *** ****, check hasn't cleared and it had been over three weeks. Stop payment issued, post office money order sent priority with delivery confirmation. Payments receive July 12, 2013. Call p,aced to confirm receipt and all is well. Received letter dated July 22,2013 that check were received but had stop payments issued and now the amount due is double. How is this remotely possibly? The account should reflect due for August. June and July were paid with money orders that Athene verified receipt.I am disgusted with them. The company comes across as inept, unprofessional and careless. Please help resolve this constant merry-go-round with them.

Desired Settlement: Accounts updated to properly reflect that errors are due to misapplication or carelessness on the part of Athene Annuity. All of my payment should be credited to my multiple accounts.The accounts are under the name:***** ******* #*****************, ******** ******* #***-************* ****** ******* #*****************. Mailing statements are received at ** *** ***** ********* **** *****.

Consumer Response: 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. 



Regards,

***** *******

Showing that checks or money orders have "now" been applied solves nothing. Athene has an annoying habit of writing and telling you that funds were not received. I present copies of the cleared checks to them and then get on "oh". The funds were misapplied.  Then they do it again. Then threaten lapsing of the polices. 


There has NEVER been an issue with the bank. The issue has ALWAYS been Athene since they assumed ******* ****. There really needs to be an audit to see what exactly happens when payments are sent. How long are the payments sitting in their PO Box. I reject this response because Athene is accepting no responsibility at all.

I KNOW that all policies are up to date as they always are. It's kind of Athene to acknowledge what I already know. Again, Athene accepts no responsibility in misapplication of payments.

Consumer Response: 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. 


Regards,

***** *******


What the representative of Athene has failed to grasp, no matter how many times it's stated " THERE WAS NEVER A BANK ERROR"! The only erring oarty in this mattervhad bern Athene.  The stop payment was issued after the payment had gone out to Athene  (which my bank can verify was sent on time) and  a letter from Athene was received threatening lapse in coverage. Athene can produce numerous records showing that the accounts are current ( because it has always been current), Athene can also transcribe all telephone calls of inquiries made ( there have been several).  that it wants. The fact remains that Athene has thus far proven to be unreliable when it comes to posting payments "CORRECTLY" and timely. Again, perhaps there needs to be an audit to find out why payments sent to a PO Box are not promptly applied and why so many errors since the acquisition of******* ****. 


No reply is needed. I stand by my claim.

Business Response: August 30, 2013

*** ***** ** *******
Dispute Resolution Director
Better Business Bureau of Upstate South Carolina 408 North Church Street, Suite C
Greenville SC 29601-2164

Re: File# *******
Complainant: ***** ******* ******** ***** ******** ******** ******** *** ****** *******
Policy Number: ********** ********** *** *********

Dear *** *******:

We write in response to your follow up inquiry dated August 21, 2013, regarding the above referenced policy. We appreciate the opportunity to respond.

First I would like to assure *** ******* that her policies are receiving the same service through Athene Annuity as they had been receiving through ******* **** Insurance Company prior to Athenc purchasing the policies. The servicing is still handled in the same Greenville, SC. office by the same people who serviced the policies under the name ******* ****.

In an effort to better understand *** *******’s frustration we have listened to each call *** ******* made to our customer service center this year.

On March 5, 2013 *** ******* called concerned that she had received a bill for $0.95 for the month of March. The call representative informed *** ******* that $42.25 had been applied to her policies. *** ******* stated that she always sent a check for $43.20 each month and the representative told *** ******* if she would like to send in a copy of the cashed check we could look into it for her.

We did investigate further and discovered that on February 15, 2013 her check for $43.20 was applied to the policies. A payment of $42.25 intended for an unrelated policy was applied to *** *******’s policies in error. When the bill generated on February 25, 2013 it showed *** ******* owed only $0.95 for the month of March instead of the usual bill amount of $43.20. This error was caught and the funds moved to the correct policy and upon receiving *** *******’s check of $43.20 on March 15, 2013 the policy was back on a current status. We apologize for any confusion this may have caused *** *******.

When *** ******* sent us the copy of the cleared check from February 5, 2013 we were correct in stating that the funds were received and applied on February 15, 2013.
As stated in our previous reply, there was an issue at the bank that prevented the June payments from being forwarded to us in a timely manner. We understand this was a cause of frustration to *** ******* but it was a situation that we were unable to control. Since we were unaware the June payment was being held up at the bank when the June 25, 2013 bill printed it indicated *** ******* owed us $84.50 to pay for the months of June and July.

On July 11, 2013 *** ******* called our customer service center to inquire into a bill she received for $34.50. representative informed *** ******* that a payment had posted to the account on July 8, 2013 and another payment posted on July 9, 2013 and the policies were paid through July and due for August.

At no point was *** ******* advised to place a stop payment on her June 7, 2013 check nor did she advise us during her July 11, 2013 phone call that a stop payment had been placed on that check.

On July 16, 2013 the check dated June 7, 2013 was rejected by *** *******’s bank due to the stop payment. On July 22, 2013 we sent *** ******* a letter informing her the cheek had been rejected and she was new clue for the months of July and August.

On July 24, 2013 we received and deposited checks paying the policies through July 2013. On July 31, 2013 *** ******* called our customer service eenter to inquire into the letter stating she owed for July and August. Our representative informed *** ******* we had received and applied a payment on July 24, 2013 and she was only due for the month of August.

On August 6, 2013 we received and deposited the money orders dated August 2, 2013 paying the policies through August 2013. On August 25, 2013 we sent *** ******* a bill indicating she was due for the upcoming month of September.
Again, we apologize for the confusion surrounding the March bill and regret the possible bank issue delaying the timely deposit of the June 7, 2013 payment. Currently *** *******’s policies are paid through August of 2013.

If you need additional information; you may contact mo at **************.

Sincerely,

***** *******, Manager Customer Communications

Business Response: Complainant: ***** *******
Insured: ***** ******** ******** ******** *** ****** *******
Policy Number: ********** ********** *** *********

Dear *** *******:

Please note that effective April 29, 2011, Protective Life Insurance Company became responsible for the benefits outlined in this life insurance policy and also provides administrative oversight. We write in response to your July 31, 2013, inquiry regarding the above referenced policy. We appreciate the opportunity to respond. We understand **. ******* is concerned about the time it takes for her checks to clear her account and apply to her policies. After a review of the 2013 payments For the policics in question we have come to the following conclusion.

The checks dated January 7, 2013 were received and deposited on January 17, 2013 paying the policies through January 2013.
The checks dated February 5, 2013 were received and deposited on February 15, 2013 paying the policies through February 2013.
The checks dated March 4, 2013 were received and deposited on March 15, 2013 paying the policies through March 2013.
The checks dated April 5* 2013 were received and deposited on April 15, 2013 paying the policies through April 2013.
The checks dated April 30, 2013 were received and deposited on May 8, 2013 payingthe policies through May 2013.

Please be advised that we were not aware that there was an issue at the bank when the checks dated June 7, 2013 were received.
On July 8, 2013 the check dated June 7, 2013 was deposited at our bank paying the policy through June 2013.
The money order dated July 3. 2013 was received and deposited on July 9, 2013 paying the policies through July 2013.
On July 11, 2013 **. ******* called to inquire into her account and was advised that the money order had been received and her policies were paid through July 2013.
On July 16, 2013 the cheeks dated June 7, 2013 were rejected by **. *******’s bank due to the stop payment.
On July 22, 2013 we sent **. ******* a letter informing her that the checks did not clear her bank due to the stop payment and she was now due for the months of July and August.
On July 24, 2013 we received and deposited the requested checks paying the policies through July 2013.
On August 6, 2013 we received and deposited the money orders dated August 2, 2013 paying the policies through August 2013.
Again, we regret **. ******* feels her premium payments are not being handled efficiently but it seems that other than a possible bank issue delaying the deposit of the June 7, 2013 payment, **. *******’s funds have been deposited in a timely manner. Currently **. *******’s policies are paid through August of 2013.
If you need additional information; you may contact me at **************.

***** *******, Manager Customer Communications

BBB's Final Determination: After reviewing the position of all parties, BBB determined that the business made a reasonable effort to address the complaint. However the consumer remains dissatisfied.

8/26/2013 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I've been trying to cash out an old *** Life Insurance Policy, I was Joint Owner Of Policy #**********, with my Husband, who's been deceased 11 years. I first Contacted Athene on July.17,2013, a month ago to cash out this policy. After many calls to customer service, being told I needed to fill out these forms, then another set of forms a week later, they've had the surrendered policy & Death certificate on file since 7/29/13, told one thing by one customer service, & something different from another about what forms need to be filled out. Told another week later that forms were filled out wrong. Why couldn't they call & let us Know this, instead we're waiting, hoping for this check to come, which is needed desperately!It's Now 8/14/2013, four weeks from the first contact with Athene, still no check. We faxed "Voided" check So the funds could be Direct Deposited, still I was told today, we service on a first come, first serve Basis. How's This One, You've Had The Surrendered Policy for almost 3 weeks, You Have Everything You need to process our request, & still say it has to go through the channels! I have a Heart Condition, Which Requires Me To Take *******. I'm Out Of Medication, & I have No Money To Get it Filled. We're behind on the Mortgage, So we're going to be foreclosed on, we have "NO FOOD", Utilities are going to be shut off soon.I asked You To Please Put A Rush On This, Because Of Our Dire Financial Hardships, & I'm Still Told, they are processed on first come, first served basis. How About Having Compassion For Fellow Human Beings, who are about to lose everything they worked for, Plus Possibly My Life, Because I Don't Have The Money To Buy My Medications, Or Food To Eat. I Wanted To Speak to a supervisor, was told it wouldn't do any good, they'd tell me the same thing, have to go through the channels.Their are Exceptions to every thing, & I'm Sure your Company Could Make An Exception & Direct Deposit My Proceeds for Cashing Out Policy #**********, now.

Desired Settlement: I Would Like Athene Annuity to Direct Deposit My Proceeds Of The Cashing Out of Policy #**********, to the acct. listed on the voided check that I faxed to them & They Received from me on 8/13/13. I would like this Deposited on Thursday 8/15/13.This Policy Was Originally started in 1962, Has Been Paid Up For Years. I was Told That Providing A Voided Check Would Speed up the Process!

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID*******, and find that this resolution is satisfactory to me. 

Regards,

******** *******


Business Response: Protective Life Insurance Company
Administrator for Athens Annuity & Life Assurance Company 201 W McBee Avenue, Suite 400
Greenville, SC 29601

August 22, 2013

*** ***** ** *******
Dispute Resolution Director
Better Business Bureau of Upstate South Carolina 408 North Church Street, Suite C
Greenville SC 29601-2164

Re: File No.*******
Complainant: ******** *** ******* *******: ***** ** ******* ****** ******* **** ******

Dear *** *******:

Please note that effective April 29, 2011, Protective Life Insurance Company became responsible for the benefits outlined in this life insurance policy and also provides administrative oversight. We write in response to your inquiry received August 15, 2013, regarding the above referenced policy. We appreciate the opportunity to respond.

On July 29, 2013 we received a request from **. ******* to surrender the above referenced policy on which both she and her deceased husband were listed as owners. Please understand that due to laws which are set in place to protect the policy owner it was necessary to verify if **. ******* was the contingent owner of the policy or a joint owner of the policy. Due to the age of the policy we had to request the policy file in order to verify the ownership clause.

On August 13, 2013 we received additional information and a change of ownership form from **. ******* but unfortunately we still had to verify ownership. On August 19, 2013 we were able to change the ownership to ******** ******* and on August 20, 2013 the full surrender was processed and the funds deposited into **** ******* bank account. We regret **. ******* feels her surrender request was not handled efficiently and hope this response addresses all of her concerns.

If you need additional information; you may contact me at ************** or by e-mail at *******************n.

Sincerely,

***** *******, Manager Customer Communications

BBB's Final Determination: Consumer accepted resolution offered by the business.

7/8/2013 Problems with Product/Service | Read Complaint Details
X

Additional Notes

Complaint: Started with Liberty Life on January 20, 2009 and Athene stepped in and took over the contracts. Payments of $50.25 a month was our payment with Liberty Life. Athene said it would be a dollar or two more and asked would I please fill out some more forms.On 4-4-12 the last 50.25 went out to Athene. On 5-5-12 They returned the automatic withdrawal of 50.25 and said they would be in touch as soon as they received the forms. The first time I filled them out wrong. So they sent another packet and helped me by phone to fill them out properly. Meanwhile months are going by unpaid. They kept sending packets to me. The same stuff. But on the phone they said to ignore them that they have the forms but now they need us to send them the arrears of $528.90 and a voided check on the account we would be using. We never heard from them. Still trying to get through to this guy named "***** that had been helping me all along. He kept telling me you should see it coming out of the account anytime. Last Monday he figured out that the problem was with the finance end. He said he cannot see where we paid the $528.90? I have proof. It's***** ***** check #**** and it left my account on 3-13-13. He never called back. I have had it with this. This is no way to do business. Especially when it is supposed to be a policy that is for taking care of your loved one should something happen to you.

Desired Settlement: I simply want some ONE human being at Athene to take this under their wing. Get my policy up to date and the payments set up again. Please.

Business Response:

Dear *** ********

We are in receipt of complaint ID # ******* from a ****** ** *****. In order to thoroughly research, we will need a policy number as we have many****** ******* in our system.

We could not locate a policy number in the complaint. Is that something that can be provided?

Thank you.

****** *********
Senior Compliance Analyst
Life and Annuity Division

Protective Life Insurance Company
**** ******* **** **** *** ****** ** *****Phone *** *** ****Fax *** *** ***********************************

In order to reinstate this policy *** ***** must submit completed reinstatement form would require payment of $766.95 to pay the policy through August 13, 2013. Underwriting department will review the reinstatement forms for approval. If for any reason decline the reinstatement we will mail a premium refund to*** *****. Enclosed is a copy of our Reinstatement Application.
Please note: there is no coverage With this policy until the full premium amount of $76 paid, and the Reinstatement Application is approved.
If you need additional information; you may contact me at ************** or by e-mail correspondence.
Sincerely,
***** ******** Manager Customer Communications

Consumer Response:


Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID*******, and find that this resolution is satisfactory to me.   

 

Regards,

 

 

****** *****

 

 

 On Monday  July 1, 2013 we mailed a check for the entire premium 1040.00. We are paid up until February 13 , 2014. Reinstatement forms filled out with check attached. Just waiting for the underwriters to apply the payment. We have agreed to pay in full yearly @  $528.00 a year starting at the anniversary date February 13, 2014. I would appreciate a. Copy of the policy after reinstatement.  Thank you. ****** * ***** & ***** ******* (wife & beneficiary).

 

BBB's Final Determination: Consumer accepted resolution offered by the business.

6/11/2013 Problems with Product/Service | Read Complaint Details
X

Additional Notes

Complaint: I have an annuity IRA account with that was inherited by Athene Annuity and Life Assurance Company through acquisition. 23 days ago all the proper forms were filled out and submitted to Athene for them to transfer the money in this account to another financial investment company. That company submitted the proper forms as did I.Athene Annuity has held on to my money for 23 days, when there is nothing stipulated in the contract that this be done, rather than transferring it as per my request. The Customer Service Department just gave me the "run-around" for over 30 minutes on the phone and would only say they are reviewing the matter.This is totally unacceptable and given the upswing in the stock market recently, their lack of action has cost me thousands of dollars!

Desired Settlement: The full amount of money in my account must be released and transferred as requested immediately.

Consumer Response:

To Whom It May Concern:

     I viewed the response which was simply an almost endless paper trail of forms.  My complaint is and was that I had requested the release and transfer of my money from Athene Annuity and Life Assurance Company on May 6, 2013, but the money was not released until May 31, 2013 which is 25 days later!  All the proper forms were completed and submitted by May 6th including those from ******** *****, Inc. since the money was to be transferred into my other existing *** accounts with them.

     This 25 day delay cost me hundreds if not thousands of dollars because the *** ***** ******* rose by nearly 1000 points during this time.  I understand that it could take a couple business days to process this request, but not 25 days!

    I would like to request a response in plain English as to why this company feels it can hold someone's money captive for over 3.5 weeks and I would like this complaint against them listed by the BBB.

Thank you for attending to this matter and I look forward to your timely response.

Sincerely yours,
****** ** *****
 

Business Response:

Athene Annuity & Life Assurance Company Policy Owner Services *** *** *** Greenville, SC 29602-0789
***** ************** **** **************

June 10, 2013

******** ******* Better Business Bureau 408 North Church Street, Suite C Greenville, SC 29601-2164

Re: File# *******

Complainant: ****** ** ***** Insured: ****** ** ***** Policy Number: **********

Dear *** *******:

We write in response to your May 30, 2013, inquiry regarding the above referenced policy. We appreciate the opportunity to respond.
On April 30, 2013 we received a request to transfer *** *****’s annuity to ******** *****/******* **** and *****; therefore, on May 1, 2013 we sent ******* **** and ***** a request for a Corporate Resolution as well as a completed W-9. *** ***** was also sent a copy of this request.
On May 1, 2013 we sent a conservation letter to *** ***** requesting that he sign, date, and return the letter if he wished to continue with the transfer. This was returned to us on May 6, 2013.
On May 17, 2013 we received the Corporate Resolution from ******** *****/******* **** and *****. At this time, all of the required paperwork was received in good order and was ready to be processed.
On May 29, 2013 *** ***** called our customer service center and was advised that the transfer was scheduled to process that night. On May 30, 2013 the transfer was processed and check number ****** for $********* was mailed to ******* **** and ***** Company at the ******** *** ** *** provided.
We apologize if *** ***** thinks we intentionally held his money, but all of the required paperwork was not received until May 17, 2013. Once that was received, it was processed in accordance with our guidelines.
If you need additional information; you may contact me at ************** or by e-mail at*******************

Sincerely,

***** *******, Manager Customer Communications

Business Response:

June 11, 2013

**. ***** ******* BBB Upstate of South Carolina 408 North Church Street, Suite C Greenville, SC 29601-2164

RE: Complainant: ****** *****

Contract Number: ********** BBB File Number: *******Athene **** No:*****

Dear *** *******:
I’m writing in response to the follow up letter we received from *** ***** today.
While*** ***** believes all paperwork was received in good order on May 6, 2013, that was not the case. As we outlined in our previous letter, the Corporate Resolution was not received from ******** *****/******* **** until Friday, May 17, 2013. It was at that time that processing of *** ******* funds transfer began and was processed in accordance with company guidelines.
I trust this now responds to*** ******* concerns regarding his transfer, but as always, I stand ready to answer any further concerns he may have.

Sincerely,
**** ***** Customer Advocate *****************
Athene Annuity & Life Assurance Company **** *****, Customer Advocate Compliance **** *** **** Greenville, SC 29602
***** ************ **** ************

BBB's Final Determination: After reviewing the position of all parties, BBB determined that the business made a reasonable effort to address the complaint. However the consumer remains dissatisfied.

BBB Comments: The consumer did not reply back within the Bureau's timeframe to accept or reject the company's second response to the complaint.

6/3/2013 Billing/Collection Issues | Read Complaint Details
X

Additional Notes

Complaint: Took a loan on my Insurance Pol#********** on November 05, 2004. Started payments late 2007 but they have never been credited to my account. Initial payments of $50.00/month but at least last 2 years has been $175.00/month. Since I'm disabled & Premium payments are waived my only payments to company are to the Loan repayment as noted on the ePay from **** ** ******* [have trouble ticket with *** to verify Athena rec'd all payments].Talked to Athena in April 2012 when I received their annual account notice & they audited the account showing no payments but never located my payments & back credited to my policy loan with adjustments to interest fees. I verified the Account number on my **** ** ******* ePay matches the Liberty Life/ Athene account nubmer & opened an inquirey with *** to veriy they received the payments. My husband & I are both permanently totaly diabled & have been unable to give this issue the full atention it deserves but would like it resolved this year.

Desired Settlement: Need ATHENE to correct Policy Loan payments to match *** epayments to reflect same payment dates & adjust intersts & fees accordingly. Policy Loan check initially from Policy: ********* District Office: *****Agent: 0000050Group: *******Check Date: 11/05/04

Consumer Response:

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. 

[To assist us in bringing this matter to a close, Please let us know below why you are rejecting the offer made by the business.]

1.  Annual Conversations with Athena notified them  the payments were for loan repayment and *** checks did have a memo they were for Loan repayments.

2.  As a disabled senior ********** premiums payments are wavied

3.  Letter's notice that loan balance will decreas & that cash value will decreas doesn't make sense.  If premiusm are wavied due to disabilty how does the cash value of the premium  decrease when they correc their accounts?

4.  No mention is made of adjusting interest on loan to reflect payments that were made but incorrectly applied to premiums

Regards,

******** ******

 

 

Business Response: Please note that effective April 29, 2011, Protective Life Insurance Company became responsible for the benefits outlined in this life insurance policy and also provides administrative oversight.
We write in response to your inquiry received April 15, 2013, regarding the above referenced policy. We appreciate the opportunity to respond.
We have reviewed *** ******** policy and while we now understand her desire for the additional payments to be applied towards the loan, this was never communicated to us. Payments received are applied directly to the premium and policy expenses unless the policy owner allocates them otherwise. *** ****** has been making payments through her online banking service and there have been no notes or memos stating that any funds were intended to be applied to the loan.
Going forward, *** ****** will need to make certain that a note such as “************* Loan Payment” is on the memo line of all checks forthcoming. We will be glad to go back and move the funds *** ****** has sent in previously and apply those funds received, taking into account interest, to the policy loan. We will need *** ****** to submit a request in writing for us to do so. However, please be advised that while her outstanding loan balance will decrease her current cash value will also decrease.
We trust the foregoing has responded to your inquiry. If you or *** ****** needs additional information, you may contact me at ************** or by e-mail at ******************.
Sincerely,
** *******
***** *******, Manager Customer Communications

Business Response:

Please note that effective April 29, 2011, Protective Life Insurance Company became responsible for the benefits outlined in this life insurance policy and also provides administrative oversight.
We Write in response to your follow-up inquiry received May 2, 2013, regarding the above referenced policy. We appreciate the opportunity to respond.
*** ****** should be able to pull up the image of her online bill payment check on her online bill payments service website to verify the information on the check. We have pulled copies of the last four checks we received and there is no indication they are intended as loan payments. Copies of these checks can be provided upon request. According to the policy, We can only guarantee payments be applied to the loan if the check or correspondence specifies it as a loan payment. We do not have record of annual calls made by *** ****** and again, a phone call would not ensure the payment was applied to the loan. *** ****** needs to contact her online bill pay service if she was under the impression the checks were marked for loan payment.

If we were to move the online payments from the Cash Value and apply them to the loan you may see a slight change in your Cash Reserve Value and you Will see the Net Cash Value increase as the loan amount is paid down. You will also see the Net Death Benefit increase by the amount applied to the loan. I hope this helps you understand the relationship between the Premium Payments and the Cash Reserve Value.Your correspondence dated April 15, 2013 indicates *** ****** believes she started paying above the Premium Waiver of Disability amount in late 2007. According to our records the first payment we received from her online bill payment service was in January of 2008. Again, We would be glad to go back and move the online bill payments which were applied as premiums from the Cash Reserve Value and apply them to the loan but We must have *** ******’s written and signed request in order to do 50. While we will move the funds from the Cash Reserve to the loan upon request we will not waive the interest the loan has accrued.

We would like to remind *** ****** that the current loan balance and interest due for the year is mailed to the policy owner 20 days before the policy anniversary date. In addition, the annual statement, mailed each year on the policy anniversary date, quotes the loan balance and lists the loan payments which are made through out the year. An annual review of these documents would ensure the policy owner that their funds are being allocatedas they intended.

Again, in order for the online payments to be applied to the loan forth going, *** ****** must make changes to her loan payment checks. She may want to contact her online bill payment service and make certain there are enough character spaces for a loan payment memo to be included on her check. Upon request We can send loan payment reminders each month and they can be returned with a check and then the payment will be certain to be applied to the loan; however this would require mailing a personal check each month as opposed to a bill payment service.
We trust the foregoing has responded to your inquiry. If you or *** ****** needs additional infonnation, you may Contact me at ************** or by e-mail at ******************.

Sincerely,
***** *******, Manager Customer Communications

BBB's Final Determination: Business offered a resolution. Consumer did not pursue further with BBB and the matter was assumed to be resolved

5/13/2013 Problems with Product/Service | Read Complaint Details
X

Additional Notes

Complaint: We have receiving monthly bills in spite of the continued disability policy on the account. Once, we sent in the forms requesting continued disability as stated by the first customer rep, they continued to bill us. When we called customer service, the service person was rude and was unclear which form was required. When I clarified the issue for her, she continued to be unhelpful. The company is continuing to send us bills for premiums that are covered under disability insurance that was previously paid.

Desired Settlement: The company needs to correct account information instead of continuing to send us bills for premiums covered under disability insurance.

Business Response:

**. ***** *** *******

Better Business Bureau of Upstate South Carolina 408 North Church, Suite C

Greenville, South Carolina 29601-2164

Re: ID ********

Insured: ********* *****

Dear *** *******:

This is in response to your April 17, 2013, inquiry on the above referenced subject.

We have conducted a thorough search of our records and have been unabie to locate any coverage on the life of ********* *****. If **. ***** couid provide us with the policy number

or a copy of a premium receipt, we will be happy to research this matter further.

in addition, we have attempted to contact **. ***** for this information; however, we were unable to reach her at the telephone number listed on your letter, *************.

If you have questions regarding this response, please feel free to contact me at (***) ********.

Sincerely,

BBB's Final Determination: Business offered a resolution. Consumer did not pursue further with BBB and the matter was assumed to be resolved

BBB Comments: The consumer did not reply back to the BBB within its timeframe to accept or reject the company's response to the complaint.

5/13/2013 Problems with Product/Service | Read Complaint Details
X

Additional Notes

Complaint: We have been with Athene for quite a few years and have trusted them to take care of our retirement needs, including direct depositing our funds in the specified amount of time. To date we have yet to receive funds requested with in the specified amount of time. They specified on numerous occasions that our funds would take 10 business days from the date of receipt to process, once processed its another 48 hours to show up direct deposited in our bank account. The most recent request was sent and received on March 15, 2013, today is April 11, 2013 and we have not received our funds yet. When I called today to inquire I was told that my request did not get received until April 8 this is after I got confirmation they had received it on March 15 and that it would be 10 business days from Monday plus the 48 hours to show up in our account. We rely solely on those funds and cannot afford to make late payments or miss payments due to this company not getting our funds to us. We have had to do this several times because they did not get our funds to us within their time line. We are completely dissatisfied with this company and its processes.

Desired Settlement: We would like Athene to reimburse us for all the late payment fees and overdraft charges we have incurred due to this problem to date. We would like them to be held to their policies and specified time lines.

Business Response:

**. ***** ******* ***** ** ***** **** **** ***, ***********

Re: File# *******

Complainant: ***** ******* Insured: ***** ******* Policy Number:**********

Dear*** *******:

We write in response to an inquiry received April 15, 2013, regarding the above referenced policy. We appreciate the opportunity to respond.

On March 20, 2013 we received a request for a partial withdrawal from you. The cover letter requested the funds be electronically deposited “on or around the 8th of April if possible”. This request was misinterpreted and the withdrawal request was filed to begin processing on April 8th. Once the partial withdrawal process began on April 8th, we were able to complete the request within our usual time frame of 10 business days.

On April 15, 2013 a partial withdrawal was processed and the funds sent to your bank via direct deposit. It should take 48 hours from that time for the funds to show in the account.

We apologize for the breakdown in Customer Service that you experienced. As a gesture of good faith, we will review and take into consideration the charges incurred for this incident if you are willing to submit proof of them, which would consist of bank statements and any other documentation you feels pertinent.

If you need additional information; you may contact me at ************.

Sincerely,

**** ***** Customer Advocate

cc: ***** *******, BBB of Upstate South Carolina

Athene Annuity & Life Assurance Company Policy Owner Services *** *** *** Greenville, SC 29602-0789

Tel.: ************** Fax: **************

BBB's Final Determination: Business offered a resolution. Consumer did not pursue further with BBB and the matter was assumed to be resolved

BBB Comments: The consumer did not reply back to the BBB within its timeframe to accept or reject the company's response to the complaint.

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8/27/2012 Problems with Product/Service
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1/17/2012 Billing/Collection Issues
12/15/2011 Problems with Product/Service
8/31/2011 Problems with Product/Service
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