Complaint Review: State Farm Life Insurance - Yorktown VA
State Farm Life Insurance LIARS Yorktown VA
*Author of original report: Thanks Jim
*REBUTTAL Individual responds: Don't listen to the pro business bullies on this site they are anti consumer pigs who will put the blame on you nothing is never the bad businesses fault
*Consumer Comment: Insurance Is Insurance.... Investments are Investments
My agent just straight up lied to us. My husband and I were looking for a life insurance policy a few years back after me being honorably discharged from the Army and him retiring from the Army. He told us that our premiums (minus the cost of insurance) would be invested in the stock market and it would grow according to the market of course.
At first I didn't monitor it, because I know it's a long term investment so I was just paying the premium and not worrying about it. One day I realized I haven't received a statement from them other than the savings account they said we had to open in order to start the life insurance policies. Mind you; this savings has not gained one cent in interest in 3 years.
So, I go online to register for an online account to manage our life insurance policies. Once registered, to my surprise and disappointment, it doesn't show the premium (minus the cost of insurance) being invested in the stock market, or any growth there of... All it shows is how much we pay for premiums, how much we pay for the insurance and that's pretty much IT... It doesn't even have the option to view/print your statements online... And I have yet to receive a statement even upon request from my agent.
If this company was on the up and up, why don't we have access to our policy statements?? We have never even received an annual statement. This is a total RIP OFF! Now if we cancel the policies, we are stand to loose over 1,600 dollars plus the money we have wasted paying into these crappy policies. Please don't fall for the lies and double talk like we did!
And if anyone knows how to surrender this policy with minimum penalties, please advise.
This report was posted on Ripoff Report on 07/05/2019 07:39 AM and is a permanent record located here: https://www.ripoffreport.com/report/state-farm-life-insurance/yorktown-va-liars-1481436. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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