- Report: #811773
Report - Rebuttal - Arbitrate
Complaint Review: Midland National Insurance and Annuity Division
Midland National Insurance and Annuity Division4601 Westown Parkway, Suite 300 Des Moines, Iowa United States of America
Midland National Insurance and Annuity Division Michael Mitchell refusing to release my money from annuity Des Moines, Iowa
*Author of original report: to email or not, that is the question even they cannot answer
*Author of original report: midland delaying surrender yet again
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For over a month, I have been trying to cash out the annuity. The agent, Mike Mitchell, has screwed me around and lied to me about getting the proper forms for surrender. He won't take my calls or return them either.
His secretary told me he could not get me the surrender forms and I would have to call the number in Iowa to request it myself. When I called the number I was placed on hold every time for more than 15 minutes and finally gave up. I did finally receive the form and the agent sent it.
Wait! I thought he did not have the authority to send me the form? That's what he and the company tried to tell me.
I have emailed the company complaints on the lack of service by the company itself and the agent. They really seem not to care at all. I finally received a form for the surrender after 3 weeks. I filled it out and mailed it back last week. I was super upset that they INSIST on having the original copies of the policy since they issued the policy. I do not understand them wanting originals. Now I am left with copies.
I had my bank lady look at the form and submit all the necessary paperwork for the surrender. I even had the form notarized for my safety.
I emailed the company again yesterday to check on the progress. They advised me I did not fill out the form correctly and did not submit the original policy form. I had to check a box that says I have mislaid my policy and re-fax the surrender form today. I really think they would not have contacted me about the form not meeting there standards.
I was advised that after they get the form CORRECTLY filled out it will take 7-10 days to process and another 2-3 for direct deposit into my banking account. Can you imagine how long it would take for postal mail to get a check?
I am beginning to wonder if I will have to contact a lawyer to get my policy cash value.
I am very upset at this company and think this is a complete scam to take money from hard-working Americans to fill their fat pockets.
Shame on you , Midland National!
This report was posted on Ripoff Report on 12/20/2011 10:02 AM and is a permanent record located here: http://www.ripoffreport.com/r/Midland-National-Insurance-and-Annuity-Division/Des-Moines-Iowa-57193/Midland-National-Insurance-and-Annuity-Division-Michael-Mitchell-refusing-to-release-my-mo-811773. 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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