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| Woodmen of the World Deceptive practices, damages peoples lives, horrifying client service Internet |
| 15th of Nov, 2011 by User527722 |
| This is the second problem my mother in law has had with this company. To preface my conversation She opened two accounts with Woodmen of the World. One a life policy that she put $40,000.00 into it and an annuity that she put in $25,000.00. It took them less than 2 weeks to accept her money, open the accounts, and deliver the supporting documents to her. She closed the annuity and transfered the money to another insurance company. They offered a better rate of return and thus she would earn more interest on her money. As a 70 year old lady, every dime is important in retirement. They took more than 3 months to transfer the funds. They offered no real explanation and no apologies for the delay. This past September she chose to move her money from the life insurance policy to another insurance company as well. She filed the paperwork on September 5th, 2011. According to them they did not receive the paperwork until September 25, 2011. Then they had the Area Manager Steve Bishop Jr from Roanoke, Va to meet with my mother in law. She did not understand why he wanted to meet her. This meeting took place more than 45 days after her request to move my money! Mr. Bishop arrived at her place along with another young man they recently hired. Mr. Bishop reviewed her policy and informed her that if she "needed money" she could withdrawl 95% of the account value with out penality. She chose to use this option. He also told her that both he and Woodmen of the world were very concerned for her money. However, they never asked her why she wanted the money. They were only concerned about loosing business. The meeting was only to train the new hire and a "dog and pony" show. He tried to call home office in NE, but could not get any assistance. He told her he would call her later in the afternoon to tell me the exact amount that I could withdrawl. A week later he still had not returned her call. She then got upset and called home office directly. They told her that he was incorrect and that she could not take 95% of the account value. Now, I'm sure that this incorrect information could be used to file a complaint against him with the state corporation commission in the state of Virgina. I also believe that Mr. Bishops "errors and omissions" regarding his explanation of my policy could present a problem for him. So, home office now had her request. 10 days later she contacted them and they informed her that her request was incorrect! They never called her...She had to call them. Then she had to fax a request to start the process all over again! They have strung out this 71 year old lady for more than 90 days to get her money. How insane and pathetic is that??? We cannot believe that this company is so hard up to keep the funds in house that they are willing to destroy their reputation. I see that there are other complaints about this company as well. If you ever want to get your money back as fast as they took it, you better take your business somewhere else. It is unbelievable that a company and an area manager (Steve Bishop from Roanoke Virginia) are such poor loosers when it comes to everyday business transfers. She have been informed by several insurance companies that this process should not take longer than 10 days to process! Woodmen of the World and Steve Bishop are using stall tactics and poor business practices to try and keep business with their company. Be aware, be warned, and look to other companies for product support and service! Do not do business with a company that uses stall tactics in order to avoid completing a clients transaction request! |
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