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Report: #1493199

Complaint Review: Sun Life - Wellesley Hills MA

  • Submitted:
  • Updated:
  • Reported By: Tony Raymond — Baltimore MARYLAND United States
  • Sun Life PO Box 9106 Wellesley Hills, MA United States

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BEWARE OF SUN LIFE FINANCIAL

  THEY WILL STEAL YOUR MONEY. THEY ARE THIEVES. THEY HAVE NO "CUSTOMER SERVICE" BECAUSE THEY JUST DON'T CARE!   My mother is 96. She opened a Money Market Account 3/21/1991 for $18,219.08. This account was valued at $26,670.43 on 2/20/2000. We closed an insurance policy in January with a value of less than $13,000.

Sun Life emailed me today that this was my mother's original investment with all interest included! This of course is a lie.    Despite many promises to return my calls and emails, they have avoided discussion of my Mom's policy. It is awful the way they have treated my mother and I and I really resent it.    Tony Raymond (((REDACTED))) Baltimore, MD (((REDACTED))) 410-247-0837 traymond51@hotmail.com

This report was posted on Ripoff Report on 03/22/2020 11:42 AM and is a permanent record located here: https://www.ripoffreport.com/report/sun-life/wellesley-hills-ma-financial-1493199. 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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#3 General Comment

Yep, my error

AUTHOR: John - (United States)

POSTED: Friday, March 27, 2020

 I read the original post wrong and saw "Sun Trust" when it reads "Sun Life." Sounds like the next poster was correct- this is an insurance policy, which was apparently borrowed from. In any case, you should be able to get a full explanation. I wonder if, when you do, you'll share it with us even if it's not quite as complimentary as your original post.

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#2 Consumer Comment

This Is Not a CD Because Sun Life Isn't a Bank - You Cannot Be This Dumb

AUTHOR: Jim - (United States)

POSTED: Tuesday, March 24, 2020

Sun Life Financial is an insurance company that sold your mother an annuity policy that sounds very similar to a whole life insurance policy.  It means she was drawing money on the policy for a number of years once the policy reaches maturity. 

Unfortunately, you closed out the policy - such annuities have serious cancellation fees associated with them, which is why annuities have the bad reputation they do.  The $13K represents the cash surrender value of what was left on the policy.  Your mother has no idea what she's talking about.  Neither do you.

Despite many promises to return my calls and emails, they have avoided discussion of my Mom's policy. It is awful the way they have treated my mother and I and I really resent it.  Nobody cares whether you resent what happened or not.  There is nothing for you to call about or e-mail anyone about.  The issue is closed.  Both of you are in need of a custodial-type relationship - at least based on your prior complaints posted here.  Neither of you are particularly competent.

No, I don't work for the insurance company....and stop putting your phone number on this site.  That is what I would consider very dangerous behavior....

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#1 General Comment

You can get help

AUTHOR: John - (United States)

POSTED: Monday, March 23, 2020

 Sun Trust is a federally regulated, brick and mortar bank. You need to demand the complete records showing the growth of the Money Market fund. It is literally impossible for a $26,000 balance to get cut in half in 20 years. It can ONLY go up...if UNTOUCHED.

Are you quite certain your mother didn't dip into it? Sun Trust can show you the withdrawals if that's what they are claiming. If they refuse, contact a lawyer. BTW, I have no idea why you included "we closed an insurance policy." What does that have to do with the MM account?

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