Anonymous

Customer Service is non existant

On January 31, 2018, I received a letter from Midland stating that on March 13, 2018, I would be receiving a check for my annual Required Minimum Distribution (RMD). The RMD has not arrived and I have been unsuccessful in my attempt to follow up with Midland to determine the status of the RMD payment. I have spent over three hours on the phone listening to music on three different numbers provided by Midland Customer Service which I found on the internet. In addition, I left my home telephone number, as suggested by one of their recorded messages. No response from that approach either. My only remaining recourse is to contact the Better Business Bureau (BBB) to help me resolve this issue or at least make them and others aware of the lack of service provided by Midland.
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Reason of review:
Poor customer service
Samanda Cwv

I need some info

Your call machune sucks. You prove your lack of regard for yoyr customers with this lousy call service
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Reason of review:
Poor customer service
Pattie Jcs

Had a beep that caused interference with call

During the prompt menu there was a beep that kept interfereing with the automation.
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Thatcher Pdr

Not able to get in contact

Another insurance until when is the period grace
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Reason of review:
Poor customer service
Patricia E Evh

1099

I have not received my annuity 1099 for income tax reports.
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Reason of review:
Order processing issue
Anonymous

Stop insurance

Went up 3x more a month IT came go up to 700 hundred a month Been paying on this for 30 year. Try to cash out they said does not have any cash surrender Put in at least 20, Each year on the back of my policy it said 8 percent what was that ? It was a AAA policy .To me It's a 000 Two young man nock on my door selling insurance. Stay with the people you know . Then saying contact us with any future needs . you would be the last person I would call If you get insurance make sure it's Whole life insurance .
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Reason of review:
Pricing issue

Preferred solution: Full refund

1 comment
Guest

Have called several times to update our new address and bank info, was hung up on twice after being placed on hold for more the 40 minutes each time. I guess when they are unable gl get their money from our bank maybe then they will be interested in doing their job......

Kolbi Fkt
map-marker West Des Moines, Iowa

Universal Life Rip Off

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My life universal life policy was acquired twice by other insurance companies thru mergers, etc. It ended up at Midland National.

Midland changed the written terms of the insurance policy to suit their needs. My policy was originally valid thru 2046 which Midland changed to 2017. Defined annual premiums which changed at age 65 rose 735% with Midland over the defined premium in the original contract/policy. The value of the policy decreased to 0 $ by May 2017 at which time Midland wanted to bill be on a monthly basis.

Their so-called "cost of insurance" and excessive "riders fees" liquidated all the value in the account. When I paid the last premium last September they never stated that the "annual premium" would only cover 9 months.

These people are CROOKS of the highest order. Stay Away!!

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Loss:
$50000
Reason of review:
Pricing issue

Preferred solution: Deliver product or service ordered

1 comment
Guest

Midland National Life Insurance company is the worst. They hold my annuity.

No way to reach them by phone. They don't answer.

Anonymous

DON'T TRUST THIS COMPANY OR ANY AGENT WHO REPRESENTS THEM.

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I invested in a universal Life policy with this company, the insurance agent was a friend of mine so I trusted what he was telling me. He gave me all kinds of incorrect information and I am now paying for a bloated insurance policy that is way over priced and does not meet my needs.

This company has all kinds of restrictions so when you sign a policy you are stuck with their high prices, bad customer service, and penalties galore for any changes you want to make to your policy. Now that I am looking into the company they are financially unstable and repeatedly withhold death benefits and cash value from their clients for no reason. They're strategy seems to be delay delay delay.

People's life's are ruined because of this company's practices. My hope is this review will help anyone sees this company for the fraud, life insurance is extremely important and necessary don't trust your money and your family's well being with this terrible company.

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Loss:
$2800
Cons:
  • Fraud
  • Getting the run around
  • Disappointing
Reason of review:
Not as described/ advertised

Preferred solution: Let the company propose a solution

Anonymous

Rip off

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When my annuity matured I opted for full surrender. Per the form they sent me I opted to make my own election as to what was withheld for taxes. The form clearly stated if I did not make an election they were required to take 10%. When I received my funds they took the 10% in addition to what I had elected. When I finally was able to talk with someone they informed me they are required to take 10% if I do not elect that much. They have a new form that states that but what they sent me was a form dated 2011 that states I elect the amount of they take the 10%. So I am out more money than I elected to have withheld. The customer service rep I spoke with did not seem to care one way or the other and refused to look into seeing if a correction could be made. I feel I was ripped off because I was given an old form but they withheld based on a form that I was not given.
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Loss:
$715
Cons:
  • Oh hold forever to talk with someone who ends up being rude
Reason of review:
Problems with payment

Preferred solution: Full refund

1 comment
Guest

Midland National Life Insurance holds my annuity. I'd like to get information but they don't answer the phone.

I feel I'm being held hostage with no way to access my funds. The worst company and the SEC should be looking at how they do business.

Prentice Bpf
map-marker West Des Moines, Iowa

Do your homework on Midland and any company associated with them.

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My life insurance premium jumped 800 percent. The agent who sold me the life insurance many years ago indicated the premiums would never increase because of the premium being set at such a rate that would render a premium increase unnecessary. I called the agent and the company. The company states that the agent can no long write insurance for the company and the agent states that I should allow him to write a new policy with a better company because Midland National was going under and had gotten grading negatives. These people are worse than banks. I wonder who is in on this scandal, probably every politician in Washington, DC. Trump, Clintons, Bushes every Republican and every Democrat.
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Reason of review:
Poor customer service

Preferred solution: Let the company propose a solution

Anonymous

Midland National Life Insurance Company Life Insurance Review

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I have been with company for a long time . No health problems and at my 10 year anniversary my premium at now it increased from 360+ every 6 months to over 1300+ for six months. This should be criminal.
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Reason of review:
Pricing issue
Anonymous

Run, Run Far away!

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I'm in the process of getting my mother's affairs together for her to go into a nursing home. We have to apply for medicaid, and In applying we have to change the beneficiary of her life insurance to the state. I was given one month by Medicaid to finish all of the paperwork and submit everything or else my mother would be denied and we would have to reapply which would take even more time and annoyance. I repeatedly called Midland National. I jumped through EVERY hoop they placed before me WELL BEFORE I needed the change in beneficiary. At the end of the one month that I had to hand in everything I called them one more time to find out that THEY HADN'T EVEN STARTED THE PAPERWORK. They are unreliable and deceitful. They told me one week ago that this business would be concluded by the middle of this week. Now I'm going to have to start the paperwork all over again. Run Run far away. NEVER USE THEM IT IS NOT WORTH THE EFFORT!
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Cons:
  • Disappointing
  • Getting the run around
Reason of review:
Poor customer service
1 comment
Guest

I have concluded that this a nefarious group who do not answer the phone, return phone calls, and lie, lie, lie!

Anonymous
map-marker Maplewood, New Jersey

No Access to Account Agent

I have repeatedly tried to reach the agent for my annuity account. Over a week ago I left him a phone message, asking him to return my call in order to discuss investments for the coming year. He has not returned my call. I called Midland again to-day and gave up after 30 minutes of waiting on hold to speak to a live person. Mr. Mathew Collin (or Cohen), who has replaced John Johnson, who retired last year, never returned my call. If he is on vacation, my request should have been referred to a person who served his accounts during his absence. I only have until 9/18/16 to make changes to my investments. Mr. Johnston was always responsive, even pro-active!
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Reason of review:
Poor customer service
Darcy Ajk
map-marker Pipestone, Minnesota

Will Selling Life Insurance For Midland National Life Damage Your Life Insurance Reputation?

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In the modern market most life insurance companies recruit and contract independent life insurance agents to sell their products. This field force is similar a network of “distributors” with the life insurance company acting as the “manufacturer”. The life insurance company depends on the enthusiasm and loyalty of their life insurance agents, and the life insurance agents depend on the life insurance company to provide competitive products and a good reputation. Both parties expect the other to treat them fairly.

Most independent life insurance agents don’t have the marketing budget to advertise their business so they have little choice but to rely on the reputation of the life insurance company, or companies, the agent does business with.

Considering the reputation they have earned in the last few years, many life insurance agents are beginning to wonder whether being associated with Midland National Life Insurance Company is in their best interest. Midland National has placed their profits before the needs and interests of the life insurance agents that sell those products, and in doing so has betrayed their sales force.

Midland National made the risky choice to use sales practices and materials that have resulted in regulatory actions, Attorney General investigations, and class action lawsuits by policy holders in multiple states. The most recent was earlier this year when Midland National agreed to pay a $1.3 million fine as part of a settlement with the California Department of Insurance and further agreed to make reforms to its business practices after a probe showed Midland National was allegedly misleading senior citizens when selling annuities deemed inappropriate.

This fine may have been a result of Midland National making a $31 million dollar payment last year as part of a settlement of a federal class action lawsuit in California that had alleged that Midland National had used deceptive sales practices in selling their products. Sammons, Midland National, and its sister company North American for Life and Health have paid settlements in many states over the past ten years as a result of their sales practices and the adverse effect it has had on the senior citizens that have purchased them.

A life insurance company being sued is not unusual; a life insurance company being sued by thousands of its policy holders across the country is a red flag. Being sued by a state’s chief law enforcement officer is so unusual it constitutes a flashing neon sign behind the red flag. Being sued under provisions of the RICO (Racketeer Influenced and Corrupt Organizations) Act, Bendzak v. Midland National Life Ins. Co., 240 F.R.D. 449, 450 (S.D. Iowa 2007) adds bells and sirens to the neon sign and red flag.

As the policy holder complaints began to accumulate Midland National had the opportunity to resolve them and avoid litigation. They chose not to. That action constituted a clear policy of contempt for their customers, and also for their agents.

Life insurance agents sell one thing: the reputation of the company. When that company places their reputation at risk by ignoring the needs of the consumer they make the agent’s job extremely difficult. How do you convince a customer that they can trust an insurance company if the reviews on that company are horrible? If any life insurance agent or potential customer simply Googles “Midland National Life” + “reputation” they will see a side of Midland National that may cause them to reconsider associating with them.

Midland National Life agents have more to worry about than just trying to sell a product for a company that has trashed their own reputation. In dealing with the various lawsuits and consumer complaints Midland, acting in its own best interests, has frequently refunded a policy to the consumer to avoid another lawsuit. Midland is then going back to their agents (who sold what Midland told them to sell the way Midland told them to sell it) and demanding a refund of the commissions they paid the agent. If an agent carefully reviews the compensation agreement with Midland National, or its sister company North American for Life and Health, they will find language like this

“In addition and not limited by the forgoing, North American reserves the right to chargeback commissions at any time, in its sole discretion, pursuant to paragraphs 7 and 9 of the agent contract, which are expressly incorporated herein.”

The reality for any life insurance agent is that they can NEVER spend a commission dollar from Midland National without wondering whether Midland will sue them for that money years later. Sometimes this is three or four years after the agent made the sale and in amounts of $30,000 or more, and Midland National is VERY aggressive in collecting their money.

Midland National gambled and lost in trying to beat the regulators and now they are demanding that their life insurance agents help cover Midland’s losses, and then suing those life insurance agents if they refuse. How can that be fair?

A life insurance agent has many reputable insurance companies to choose from so they not obligated to sell for a company that abuses its policy holders or agents. Time will tell how much Midland National Life suffers for betraying their life insurance agents.

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1 comment
Guest

Thanks for the heads up. No midland for me.

Hendy Scr
map-marker Derry, New Hampshire

Trying to get my money

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I am trying to cash out my Annuity.I did all they asked,even faxed the paperwork to them overnight.Well,the paperwork has been sitting in a po box for a week and they havnt responded to any of my messages.Ridiculous putting you through this just to get your own money.This is the worse company i have ever dealt with in my life.They can care less about the customer.They act like the money belongs to them and thy make the customer run in circles trying to get there own funds.I know insurance companies in general suck, but this one has to be at the top of the suck list.
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Loss:
$15000
Cons:
  • Disappointing
  • Getting the run around
Reason of review:
Poor customer service

Preferred solution: Deliver product or service ordered

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