I paid my yearly life insurance premium on November 1, 2022, of $397. The company sent me another notice shortly later asking for another payment of $397. After numerous phone calls to the company and my bank, my case was put on investigation to find the initial transaction. I order to avoid losing my life insurance, I made a second payment of $397 on December 5, 2022. Several phone calls and emails later, showing multiple evidence and proof of payment from my bank, I received letters from the company asking for further evidence that I made the initial payment. Further letters have now been mailed directly from my bank with further proof of payment. The company continues to stall the return of my overpayment of $397.
I originally purchased four accidental and death policies from Peoples Benefit Life Insurance Company in the amount of $400.000.00. They were purchased in March 2008. Stonebridge Life Insurance Company purchased the policies from Peoples and eventually Transamerica Life Insurance acquired the policies. During the Peoples and Stonebridge period I did not encounter my customer service barriers to any policies changes. However, Transamerica has caused undue hardships.
On November 25, 2022 I telephoned Transamerica in an attempt to resolve a website issue. I immediately needed to make changes to the policies. During the telephone conversation with customer service I was told that since I had not accessed the website for an extended period of time my password would have to be reset. the Transamerica representative stated a technician would be calling me in three business days to assist in resetting the password to access the website. The company never called me back but has no problem with debiting my account monthly for the policies premiums.
This is a letter I sent on October 24, 2018; U.S. Securities & Exchange Commission Office of the Investor Advocate 100 F Street, NE Washington, DC 20549 CC: Mr. Mark Fuller CEO Transamerica Corp. 4333 Edgewood Rd. Mail Drop: 0001A Cedar Rapids, Iowa Subject: Redemption Fees and failure to comply with customer's requests.
To whom it may concern. My wife's ex-employer Arroyo Oaks Medical Associates, Inc. contributed funds into her retirement account 401 (k) in 2018 as part of the profit sharing plan administered by Transamerica Inc. Her employer's contract number is: xxx Her beginning balance was $913.45 which, according to instructions $913.00 was to be rolled over into her IRA account (# ) at TD Ameritrade as her trustee. What she received was a check # 1416190922 in the amount of $596.82. I understand that her ex-employer had negotiated with Transamerica that Transamerica could charge its retired employees over 16% or $150.00 of this account's value in this case to write this check this is outrageous, regardless of how this was agreed upon. Transamerica should be ashamed. Her request to have her account rolled over to her TD Ameritrade was ignored by Transamerica. I ask that her request be complied with and a check for $913.00 be submitted to her TD Ameritrade account No. XXXXXX. If there are any questions, you may contact me by email at:xxxxx Truly; Enclosures 5 Documents submitted to Arroyo Oaks Medical Association. 5 Documents received from Transamerica.
Transamerica told me today that as a company policy they will not respond to letters. They also told me that if we don't cash the check they will issue another at another $150.00 fee. They have told me that they never received the instructions for the roll over, my wife hand carried the documents to her ex-employer, I was there. They told me that I could have sent the documents / instructions directly to Transamerica. Each time you request funds you have to pay a processing fee to Transamerica for $25.00 and another fee to the employer which goes to another party of $125.00. There was a company profit sharing disbursement of $913.45 with the request that $913.00 be rolled over to her IRA account, instead Transamerica sent the IRS $153.03 California state tax $15.30 a TRS withdrawal fee $25.00 and a TPA (?) withdrawal fee of $125.00. My wife received a check for $596.82. (outrages) The account was not to be closed but a small amount was to remain. Don't deal with this company.
After being a life insurance policyholders for 29 years and 11 months I decided to cancel the policy because of the high amount of premium increases. The costs got prohibitive. I was told the cash value was a certain amount (in writing) and verbally and I told them to send that amount to me and the unused premium for the remainder of the month. They sent me less than one-half of the amount. When I called them they stated the cash value was not really something they used when the policyholder cancelled the policy but they instead used a Surrender Value, which is much less. Also told me the premium applied the the previious month even though I paid each month with an automatic draft from my bank so I was never, ever late in all those 30 years. I woule never, ever recommend this company for life insurance. By the way, this was a Universal Life policy, which even they cannot explain the benefits to the policyholder. Very much weighted in their favor. There is no need for me to fight this battle. Even being a college educated person I cannot win going against the Harvard and Yale educated attorneys on their staff. This is one of my worst experiences in the business world; I would adivse anyone to stay clear of this company. Their greedy ethics of this company are certainly to be questiioned.
I am writing to inform the consumer whom has invested money over the years into life insurance policies. Please check your insurance company regularly and not just assume everything is well taken care of. In my situation I purchased life insurance for my daughter 13 years ago 2003 with Monumental Insurance. I set up my account whereas the money will be automatically withdrawn from my checking account each month. Within the last 2 years Monumental merged or fell under and is now under the name Transamerica Premier Life Insurance. No problem..I received a letter stating there is no basic contract change. However, these people change agents like I change socks. Still no problem. Money is withdrawn each month from my checking account. 2 weeks ago I got a call from the most recent agent by the name of "Carmen" district 8f, f8 12 agency, in Schamburg Illinois 1847-466-5600. Carmen called me to set up an appointment. She did not state the purpose but we set up an appointment anyway.
I took a day off work to meet Carmen at 4:00 p.m. that Monday and she did not show up. Not only did she not show up she did not call and say she could not make it, running late, etc. I thereafter called Carmen at 4:15 p.m. while sitting on the porch waiting for her and she told me she was on the other side of town can we reschedule. I then replied "at what point were you going to call me"? And she then hung up on me. I could not believe this. I then called the district office 847-466-5600 and left a message detailing the conversation and attitude of Carmen. Carmen called me an hour later telling me her phone died out. I hung up. I called the district office again the next day and ask to speak to a supervisor/manager and a lady by the name of Michelle stated that she had received my message and Carmen hadn't hung up on me her phone died out. I stated that "she told you that after you told her about my voice message" She then said I hadn't spoken to her. Well how did you know her phone had died out?
May I please speak to a supervisor/manager. She then told me the supervisor will not be back until Thursday I will give her your message. O.K. thank you. Thursday came and went which is now 3 days later. I called and spoke to Michelle again and ask to speak to a supervisor/manager because this issue is not going to go away. Your agents subjective attitude is unprofessional. Your company called me to make an appointment. I did not call you. You rearranged my schedule and now you are avoiding me. This is not good. This is a bad sign of business. I would like to close my account. Send me the surrender letter and close this account. Now to the consumer who has read everything. It might not appear to be a big deal here but it really is. I had the same tale tale signs years ago with an insurance company and when it was time for that company to pay out I had to go to court and sue in order to get paid and it took me over 2 years.
If you running into insurance companies who have employees who cover for their miss deeds you should look else where. There are many reputable companies out here. Such as State Farm All State etc. you might pay a little more but you are covered. These people have never let me down. Finally, an attitude, character, behavior is learned. It becomes a condition when its done regularly. These people had no problem closing my account and sending me a surrender letter in the mail. Which I got in 2 days. But I can guarantee you the Corporate, investors, etc. think differently. Thank you for reading. Have a great day.
On Friday, Oct. 16, I was called for an interview. The guy who called me didn't say his name or the name of his company or where he had seen my resume (red flags 1, 2, and 3). He asked about my experience and if I was interested in going outside of my field. We then scheduled an interview for their Irvine office (I was also offered Brea) and he said he would text me the address (red flag 4). I then asked him what the position is that I'm interviewing and he said Director of Marketing. I then asked what company and he said Transamerica. After getting off the phone with him, I felt that this seemed very "fishy" and did some research online. Transamerica has many open positions available online but not the position for Director of Marketing. I didn't like that he gave me no information about the position or company and didn't introduce himself. I did some more research and found some listings here for the same company name and scam.
Today, Oct. 21, I was texted for me to confirm my interview and to go to this address in Laguna Hills (red flag 5). I schedule an interview in the Irvine office. I wasn't planning on going to the interview already, seeing what I had read online, but I waited to see what he would do about the scheduled interview. He texted me 2.5 hours before my scheduled interview. I told him that I will not be going to the interview. He then asked why and I told him that there were some red flags and I did some research and I'm not interested. He then texted back, ok thank you. Have a great day.
I don't know what the company is trying to do, but this is all too fishy and uncomfortable. Why would I go to an interview where I was texted the address, and have no other information? He might be someone trying to lure me into a trap! From what I've read online, they are scamming you and it's not a real interview. If it smells fishy, then it is.
I will also inform Transamerica about this "Andy" and see if they know anything about it.
I paid for coverage approx. $450 per month. I made a $2200 claim and for the past 9 months they have been refusing to pay it with ridiculous excuse after another, even sinking so low as to say they sent the check when they never did.
Transamerica Corporation Reviews
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I paid my yearly life insurance premium on November 1, 2022, of $397. The company sent me another notice shortly later asking for another payment of $397. After numerous phone calls to the company and my bank, my case was put on investigation to find the initial transaction. I order to avoid losing my life insurance, I made a second payment of $397 on December 5, 2022. Several phone calls and emails later, showing multiple evidence and proof of payment from my bank, I received letters from the company asking for further evidence that I made the initial payment. Further letters have now been mailed directly from my bank with further proof of payment. The company continues to stall the return of my overpayment of $397.
I originally purchased four accidental and death policies from Peoples Benefit Life Insurance Company in the amount of $400.000.00. They were purchased in March 2008. Stonebridge Life Insurance Company purchased the policies from Peoples and eventually Transamerica Life Insurance acquired the policies. During the Peoples and Stonebridge period I did not encounter my customer service barriers to any policies changes. However, Transamerica has caused undue hardships.
On November 25, 2022 I telephoned Transamerica in an attempt to resolve a website issue. I immediately needed to make changes to the policies. During the telephone conversation with customer service I was told that since I had not accessed the website for an extended period of time my password would have to be reset. the Transamerica representative stated a technician would be calling me in three business days to assist in resetting the password to access the website. The company never called me back but has no problem with debiting my account monthly for the policies premiums.
They have been managing my 401k for the last 8 years. I was laid off due to Covid 19. They stole the money in my account.
This is a letter I sent on October 24, 2018; U.S. Securities & Exchange Commission Office of the Investor Advocate 100 F Street, NE Washington, DC 20549 CC: Mr. Mark Fuller CEO Transamerica Corp. 4333 Edgewood Rd. Mail Drop: 0001A Cedar Rapids, Iowa Subject: Redemption Fees and failure to comply with customer's requests.
To whom it may concern. My wife's ex-employer Arroyo Oaks Medical Associates, Inc. contributed funds into her retirement account 401 (k) in 2018 as part of the profit sharing plan administered by Transamerica Inc. Her employer's contract number is: xxx Her beginning balance was $913.45 which, according to instructions $913.00 was to be rolled over into her IRA account (# ) at TD Ameritrade as her trustee. What she received was a check # 1416190922 in the amount of $596.82. I understand that her ex-employer had negotiated with Transamerica that Transamerica could charge its retired employees over 16% or $150.00 of this account's value in this case to write this check this is outrageous, regardless of how this was agreed upon. Transamerica should be ashamed. Her request to have her account rolled over to her TD Ameritrade was ignored by Transamerica. I ask that her request be complied with and a check for $913.00 be submitted to her TD Ameritrade account No. XXXXXX. If there are any questions, you may contact me by email at:xxxxx Truly; Enclosures 5 Documents submitted to Arroyo Oaks Medical Association. 5 Documents received from Transamerica.
Transamerica told me today that as a company policy they will not respond to letters. They also told me that if we don't cash the check they will issue another at another $150.00 fee. They have told me that they never received the instructions for the roll over, my wife hand carried the documents to her ex-employer, I was there. They told me that I could have sent the documents / instructions directly to Transamerica. Each time you request funds you have to pay a processing fee to Transamerica for $25.00 and another fee to the employer which goes to another party of $125.00. There was a company profit sharing disbursement of $913.45 with the request that $913.00 be rolled over to her IRA account, instead Transamerica sent the IRS $153.03 California state tax $15.30 a TRS withdrawal fee $25.00 and a TPA (?) withdrawal fee of $125.00. My wife received a check for $596.82. (outrages) The account was not to be closed but a small amount was to remain. Don't deal with this company.
After being a life insurance policyholders for 29 years and 11 months I decided to cancel the policy because of the high amount of premium increases. The costs got prohibitive. I was told the cash value was a certain amount (in writing) and verbally and I told them to send that amount to me and the unused premium for the remainder of the month. They sent me less than one-half of the amount. When I called them they stated the cash value was not really something they used when the policyholder cancelled the policy but they instead used a Surrender Value, which is much less. Also told me the premium applied the the previious month even though I paid each month with an automatic draft from my bank so I was never, ever late in all those 30 years. I woule never, ever recommend this company for life insurance. By the way, this was a Universal Life policy, which even they cannot explain the benefits to the policyholder. Very much weighted in their favor. There is no need for me to fight this battle. Even being a college educated person I cannot win going against the Harvard and Yale educated attorneys on their staff. This is one of my worst experiences in the business world; I would adivse anyone to stay clear of this company. Their greedy ethics of this company are certainly to be questiioned.
I am writing to inform the consumer whom has invested money over the years into life insurance policies. Please check your insurance company regularly and not just assume everything is well taken care of. In my situation I purchased life insurance for my daughter 13 years ago 2003 with Monumental Insurance. I set up my account whereas the money will be automatically withdrawn from my checking account each month. Within the last 2 years Monumental merged or fell under and is now under the name Transamerica Premier Life Insurance. No problem..I received a letter stating there is no basic contract change. However, these people change agents like I change socks. Still no problem. Money is withdrawn each month from my checking account. 2 weeks ago I got a call from the most recent agent by the name of "Carmen" district 8f, f8 12 agency, in Schamburg Illinois 1847-466-5600. Carmen called me to set up an appointment. She did not state the purpose but we set up an appointment anyway.
I took a day off work to meet Carmen at 4:00 p.m. that Monday and she did not show up. Not only did she not show up she did not call and say she could not make it, running late, etc. I thereafter called Carmen at 4:15 p.m. while sitting on the porch waiting for her and she told me she was on the other side of town can we reschedule. I then replied "at what point were you going to call me"? And she then hung up on me. I could not believe this. I then called the district office 847-466-5600 and left a message detailing the conversation and attitude of Carmen. Carmen called me an hour later telling me her phone died out. I hung up. I called the district office again the next day and ask to speak to a supervisor/manager and a lady by the name of Michelle stated that she had received my message and Carmen hadn't hung up on me her phone died out. I stated that "she told you that after you told her about my voice message" She then said I hadn't spoken to her. Well how did you know her phone had died out?
May I please speak to a supervisor/manager. She then told me the supervisor will not be back until Thursday I will give her your message. O.K. thank you. Thursday came and went which is now 3 days later. I called and spoke to Michelle again and ask to speak to a supervisor/manager because this issue is not going to go away. Your agents subjective attitude is unprofessional. Your company called me to make an appointment. I did not call you. You rearranged my schedule and now you are avoiding me. This is not good. This is a bad sign of business. I would like to close my account. Send me the surrender letter and close this account. Now to the consumer who has read everything. It might not appear to be a big deal here but it really is. I had the same tale tale signs years ago with an insurance company and when it was time for that company to pay out I had to go to court and sue in order to get paid and it took me over 2 years.
If you running into insurance companies who have employees who cover for their miss deeds you should look else where. There are many reputable companies out here. Such as State Farm All State etc. you might pay a little more but you are covered. These people have never let me down. Finally, an attitude, character, behavior is learned. It becomes a condition when its done regularly. These people had no problem closing my account and sending me a surrender letter in the mail. Which I got in 2 days. But I can guarantee you the Corporate, investors, etc. think differently. Thank you for reading. Have a great day.
On Friday, Oct. 16, I was called for an interview. The guy who called me didn't say his name or the name of his company or where he had seen my resume (red flags 1, 2, and 3). He asked about my experience and if I was interested in going outside of my field. We then scheduled an interview for their Irvine office (I was also offered Brea) and he said he would text me the address (red flag 4). I then asked him what the position is that I'm interviewing and he said Director of Marketing. I then asked what company and he said Transamerica. After getting off the phone with him, I felt that this seemed very "fishy" and did some research online. Transamerica has many open positions available online but not the position for Director of Marketing. I didn't like that he gave me no information about the position or company and didn't introduce himself. I did some more research and found some listings here for the same company name and scam.
Today, Oct. 21, I was texted for me to confirm my interview and to go to this address in Laguna Hills (red flag 5). I schedule an interview in the Irvine office. I wasn't planning on going to the interview already, seeing what I had read online, but I waited to see what he would do about the scheduled interview. He texted me 2.5 hours before my scheduled interview. I told him that I will not be going to the interview. He then asked why and I told him that there were some red flags and I did some research and I'm not interested. He then texted back, ok thank you. Have a great day.
I don't know what the company is trying to do, but this is all too fishy and uncomfortable. Why would I go to an interview where I was texted the address, and have no other information? He might be someone trying to lure me into a trap! From what I've read online, they are scamming you and it's not a real interview. If it smells fishy, then it is.
I will also inform Transamerica about this "Andy" and see if they know anything about it.
I paid for coverage approx. $450 per month. I made a $2200 claim and for the past 9 months they have been refusing to pay it with ridiculous excuse after another, even sinking so low as to say they sent the check when they never did.