Midland National Insurance Company lied, false advertising, ripoff, scam company Coloradp Springs Nationwide

I am writing the report againt Midland National Life Insurance. I should have researched this company before I signed up with them because they have fraud reports everywhere! I signed up for a indexed life insurance policy with them back in 2013 being that I'm a young man in my 30's. I was told that this would be a wise investment for me and I agreed.

I was told that the insurance plan would have a fixed interest rate and it would accumulate nicely over time. I was very excited. I was also told that if I were to surrender the policy the surrender charges would be 10% of the value in my account. My agent sat down with me and made a portfolio of all of my income assets. I should have known something was fishy when He kept urging me to contribute the maximum amount I could.

I decided on a amount that I could afford without financially bankrupting me which was $100 per month. I had the account for 2 1/2 years which added up to $3,000. I let the account sit for the 2 1/2 years and finally decided to check it to see how it was doing. To my suprise I saw that the account hadn't gained any money. In fact it had lost money. A lot of money. My account had only $1,915.00 in if after the 2 1/2 years after my total $3,000 investment. The only activity I see on my account was a $38.00 monthy charge from Midland National every month to maintain the account. What is this??!!

It didn't take rocket science to see that my account wasn't gaining interest and it didn't have a fixed rate at all. And the money I was losing was the $38.00 monthly charge over the 2 1/2 years that I had the account. So I was very upset and called Midland National to cancel the policy. I was told that the account would be cancelled and that me remaining balance would be lost to surrender charges! Are you kidding me?? That was no where near the amount that I was told by my agent. Total scam! My hard earned money is not going to be given away to a company who comes in the name of good and lies and manipulates people to sign up for a fradulent life insurance policy!

I contacted the Department of Regulatory Agencies in my State and they are doing an investigation