- Report: #112931
Report - Rebuttal - Arbitrate
Complaint Review: American General Life And Accident Insurance Company, Subsidiary Of American General Corporation/AIG
American General Life And Accident Insurance Company, Subsidiary Of American General Corporation/AIGAmerican General Center, Nashville, Tennessee 37250 American General Center, Tennessee U.S.A.
American General Life And Accident Insurance Company, Subsidiary Of American General Corporation/AIG ripoff forgery on insurance policies, churning and misrepresentation of annunity policies, bad faith, taking advantage of a disabled person Pittsburgh, PA And Nashville, Tennessee
*Author of original report: American General Life and Accident Insurance Company
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My mother devoloped stress induced shingles and suffered numbness in her right leg and also developed ulcerated colitis. Diane resigned her job at Easter Seals because my mother was not able to drive her to downtown Pittsburgh each day and because my mother was incapacitated for many months and Diane stay home to be with her.
American General made adjustments for the theft but also produced a policy that was not purchased by my sister. This caused my mother much concern because she didn't feel American General had reseached all of the actions by agent John Hall. After protesting to American General's General Sales Manager and subsequent agents that the policy didn't belong to my sister, they said "as far as they were concerned the policy did belong to my sister".
In January 2003, after my mother passed away and I assumed responsibity for my handicapped sister and her affairs, we discovered Hall had sold my sister 11 individual IRA annunity policies. My sister worked for 30 years in an Easter Seals sheltered workshop and didn't have to pay taxes. He received commissions for these sales. Hall told my mother and sister that if she bought these annunities from him that she would receive a check every month for the rest of her life when she reached 59 years old. In 2003 we found that not to be true and she would have to wait until each annunity matured. American General's Sales Manager and agents knew my sister worked in a sheltered workshop but didn't do anything to correct Hall's churning practices.
When I contacted American General about the misrepresentation on the annunities, they offered her cast surrender forms and that was all. After hiring a lawyer and getting records from American General, we discovered that they "manufactured" the mystery policy and forged my mother and my sister's signatures. I feel they were hoping to quiet my mother way "giving" this policy to my sister.
This policy was never cashed in as American General's agent suggested, because my mother was convinced they would some day discover they mistake and want the money back from my sister.
Today, after two years and spending $14,000 on legal fees, American General has offered to give her policies with no penalities.
It is going to cost $50,000 or more to continue this law suit because of stale tactics from their lawyers, etc. What can we do? Have you had similar experiences? Please let me know what other resources and ways to go.
This report was posted on Ripoff Report on 10/14/2004 08:04 AM and is a permanent record located here: http://www.ripoffreport.com/r/American-General-Life-And-Accident-Insurance-Company-Subsidiary-Of-American-General-CorporationAIG/American-General-Center-Tennessee-37250/American-General-Life-And-Accident-Insurance-Company-Subsidiary-Of-American-General-Corpo-112931. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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