ComplaintsforAccordia Life and Annuity Company
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Complaint Details
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Initial Complaint
03/05/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
Dad has annuity he wants to surrender (approximately $14,000). I filled out the forms and sent them via certified mail, to the address on the form (PO Box ****** in *********). After 3 weeks I called for an update. They dont have the paperwork. According to the tracking number ***** ********************) it was picked up on 02/05/2024. They said it should have gone to PO Box ******, but it was the same company. Spoke to a supervisor (**************) who said she would locate it and call me back. That was on 02/29/2024. I called her today 03/05/2024 as I hadnt heard from her. They cant find the paperwork. This has all of dad important information on itSS#, birthdate, etc. This makes me really nervous and upset. Who has this paperwork and why cant they find it? Dad has had this annuity for 70 years even though it has changed companies. Not impressed with ******.Business response
03/06/2024
Keeping Policy information secure and private is one of our top priorities. In compliance with state and federal privacy laws, we are required to restrict access to Policy information to the Policy Owner or authorized individuals. Therefore, because we have not received written authorization to release information to the Better Business Bureau, we are responding directly to the Complainant.
Our teams policy when handling complaints/inquiries is to work on the items in the order they are received. We are currently reviewing this matter and gathering appropriate information. As soon as this review process is complete, we will again correspond directly with the Complainant. We expect this process to be completed in approximately 7-10 business days from today. While we are reviewing this matter, we welcome the opportunity to address any additional questions or concerns the Complainant may have.
We will provide a written response to the consumer on or before April 1, 2024. Thank you.Initial Complaint
02/06/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
I Acquired 2life insurance policies 20yrs ago from Aviva Life Ins. Several years later Accordia Life acquired our policies. At some point ,I was late with one Acct ********** and it fell into a lapsed period. *** policy was restored and put into a FlexiblePremium Whole Life??.With this plan Premium payments were automatically made from cash value Acct. ??.This Policy was also placed on a Dated term 4/14/2024. Two weeks ago I notified Accordia and spoke with a Rep. *** young man I spoke with stated in our discussion that he would mail me reinstatement forms -7-10 days arrivival. After 7 days I called and inquired. This Representative told me its noted I call but no record about reinstatement. He went on further to say I was told that.. as if I was lying. He stated I should have received it, but he can read what it states. Regrettably **************..in short ..this policy needed to be reinstated 5years ago. Well..!! Till this date No letter.. An Annual statement sent..cash value$5.66-Surrender Value..$5.66. In conclusion ,I still have another Sons policy with them. However,I feel theyve been Exploitive, Discriminitive, and has used an Unfair practices towards me. Please Help..!! My son referenced here is a Army Vet..Business response
02/06/2024
The attachment was blank, please provide the information in pdf format.
Keeping Policy information secure and private is one of our top priorities. In compliance with state and federal privacy laws, we are required to restrict access to Policy information to the Policy Owner or authorized individuals. Therefore, because we have not received written authorization to release information to the Better Business Bureau, we are responding directly to the Complainant.
Our teams policy when handling complaints/inquiries is to work on the items in the order they are received. We are currently reviewing this matter and gathering appropriate information. As soon as this review process is complete, we will again correspond directly with the Complainant. We expect this process to be completed in approximately **** business days from today. While we are reviewing this matter, we welcome the opportunity to address any additional questions or concerns the Complainant may have.
We will provide a written response to the consumer on or before 02/23/24. Thank you.Initial Complaint
01/30/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
Since October of 2023 I've been trying to terminate a policy sold to me by Accordia. I've been told multiple times to send in the documents when I've called to confirm that I've fax and mailed out the required documents. Today they tell me that I need to have my spouse sign the documents, which is the first time anyone has told me this. I feel that they don't want to give me my money back. I was told the pay out on this policy was $6000. I'm sure there's others who are having the same problem as I am with them. They seem to be shady and unethical.Business response
01/30/2024
Keeping Policy information secure and private is one of our top priorities. In compliance with state and federal privacy laws, we are required to restrict access to Policy information to the Policy Owner or authorized individuals. Therefore, because we have not received written authorization to release information to the Better Business Bureau, we are responding directly to the Complainant. Our teams policy when handling complaints/inquiries is to work on the items in the order they are received. We are currently reviewing this matter and gathering appropriate information. As soon as this review process is complete, we will again correspond directly with the Complainant. We expect this process to be completed in approximately **** business days from today. While we are reviewing this matter, we welcome the opportunity to address any additional questions or concerns the Complainant may have.
We will provide a written response to the consumer on or before 02/19/24. Thank you.Initial Complaint
09/27/2023
- Complaint Type:
- Order Issues
- Status:
- Resolved
I signed an agreement with Accordia Life and Annuity on March 9th, 2022, that I was led to believe was mainly a market index fund by a company agent, ***************************. I now know that I was deceived and duly conned by this company.I have already paid out $1,667 monthly for 18 months for a total of $30,008 and only discovered in the annual report that Accordia Life will keep all the 1st year premium if I cancel my policy. Nowhere in their original agreement did it mention the huge amount of my money that Accordia Life would keepit is almost my entire premium. The agent, ***************************, never discussed or mentioned this huge surrender fee. I only saw the surrender fee on the first page of the annual report and realized the company was deceptive and not transparent or honest during our discussions or on the original agreement. I have lost all my trust in Accordia Life and Global Atlantic Financial Group. I see that I was targeted, manipulated, and robbed by these companies.When their agent first contacted me, I asked how they got my work number (I thought it was a scam). He wasnt honest from the start; he suggested that my employer give him my details, but he didnt mention his companys name. He said that if I paid in my bank savings, it would grow in his ****************** I was hooked and ready to transfer my savings, but then he told me of a personal loss in his family and recommended additional insurance. I now see that was all a trick. No market index fund would have a surrender fee for all the premiums.I spoke with their customer service (****) and a supervisor (****), and they basically said there is nothing that I can do. They suggested I keep paying $20,000 per year for 17 years, then the surrender fee will be zero. I think theyre trying to confuse and trick me when all I want is to cancel my policy immediately.Please help get my money back and cancel my policy. I dont trust Accordia Life and Global Atlantic Financial Group.Sincerely,**********************Business response
09/27/2023
Keeping Policy information secure and private is one of our top priorities. In compliance with state and federal privacy laws, we are required to restrict access to Policy information to the Policy Owner or authorized individuals. Therefore, because we have not received written authorization to release information to the Better Business Bureau, we are responding directly to the Complainant.
Our teams policy when handling complaints/inquiries is to work the items in the order they are received. We are currently reviewing this matter and gathering appropriate information. As soon as this review process is complete, we will again correspond directly with the Complainant. We expect this process to be completed by 10/05/23. While we are reviewing this matter, we welcome the opportunity to address any additional questions or concerns the Complainant may have.
We will provide a written response to the consumer on or before 10/16/23. Thank you.Initial Complaint
08/29/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
Over the past month, I have three times contacted Accordia Life and Annuity by phone and talked with their representative for a recommendation for a new agent. As of today, I have NOT received a return phone call with this information. I can't get past their phone representative for a supervisor.Policy # IL01513520.Could you assist?Thank youBusiness response
09/11/2023
Thank you for contacting us. A member of our team reviewed your complaint and mailed a response to you on September 7, 2023. Please let us know if we can be of any further assistance.Initial Complaint
09/06/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
My Grandmother brought me life insurance 54 years when I was born. She passed away in 2015. I been trying to get the insurance changed out of her name to mine. Been calling did what they want. Sent death certificates of both grandparents and my mother. I still havent got any response. Its been 6 years. I will not pay until I can get it in my name and benificary changed. I just want it in my name. The agent in ***** ** *************************** I cant get a hold of. I get letter 3 every month. His phone is no longer working on the number on the letter. Thank you Ms. ******* aka *******************Business response
09/06/2022
We will respond directly to the complainant. Thank you.Initial Complaint
08/17/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
I had the insurance policy ********* since April 28, **** at age 36 with XYZ insurance company, then acquired by Aviva..then Athene and now Accordia. Took out a $10,000 loan in May 8, 2008 under ***** and have been making loan payments on the loan. In April 28, 2022, I received the Accordia Loan Interest Notice indicated Loan Balance of $17,261.04. I researched and uncovered errors on the Accordia Life Annual Report where loan payments should have been applied to the loan instead of the premiums in addition missing loan payments made during Aviva and Athene. The Premium payments that were erroneous under Accordia have been corrected and applied to the loan payments, however, the missing loan payments on Aviva and Athene has not been located. I provided the online banking information to Accordia *********************** Processing Team and to the Senior Analyst, Complaint Resolution Team, unfortunately, Accordia was unable to locate the missing payments. Per my records and online banking records, the Grand total payments submitted is $11,595.55 towards the loan during Aviva, Athene and Accordia. The Accordia Senior Analyst, Compliant Resolution Team requested for more proof. I am now 71yrs of age and very disappointed for putting my trust in company who I thought is trustworthy.Business response
08/17/2022
Hello, We will respond directly to the policy owner. Thank you.Customer response
08/17/2022
Complaint: 17725642
I am rejecting this response because:
Sincerely,
**** Won ***Customer response
08/17/2022
I provided all the information documents via email, in addition send U. S. Postal certified mail response to Accordia started back in April 28, 2022. It is now August, I gone back and forth.
Business response
08/18/2022
We received this complaint yesterday. We will respond directly to the policy owner. Thank you.Customer response
08/23/2022
Complaint: 17725642
I am rejecting this response because:
Sincerely,
**** Won ***Initial Complaint
07/11/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
I have been trying to surrender my policy with Accordia Life and Annuities company for 2 Months and they keep saying the first form needed a 2nd page signature which I promptly mailed to them. They said it must be lost in the mail as their processing department said they did not receive it! Finally I requested an email with paper work to be faxed to them. They said it could take 24 -48 hours to process receipt of the fax. 2 days later I called and they said they received it but would take up to 7 days to verify contents to be accurate. I think they are doing this to keep the money as long as they can. I really need the money now and it falls on their deaf ears!Business response
07/14/2022
We will respond directly to the complainant, please see attached acknowledgement letter,Initial Complaint
07/11/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
I purchased life insurance in **** from a company that was bought out by Accordia years ago. I have faithfully paid my premiums every month for over 30 years. In the last few years Accordia has at times ceased to withdraw my policy premium from the bank (for years I have had auto withdrawn). They did it again last June 22, 2022. I called the day after and once after that offering to pay over the phone, they refuse to accept payment and said they made a 'ticket' for the complaint. Now I find in the mailbox a second notice of non payment (I did not receive a first) and a threat to cancel the police. I think that is what they want all along, now that I am in my 50's they want to not take my payment so they can cancel my policy. I would like them to stop playing games and just take my payment and continue my policy.Business response
07/14/2022
We will respond directly to the complainant, please see attached acknowledgement letter,
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Customer Complaints Summary
14 total complaints in the last 3 years.
5 complaints closed in the last 12 months.