Complaints

• Initial Complaint

  03/08/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  On April 8, 2023 I rolled over my 401k into an Midland National ******* **** I was not made aware that there would be a graduated surrender charge if I decided to withdraw my money from the *** on January 22, 2024 and Midland National charged me a 9.5 percent surrender fee. The initial amount of the 401 transfer from Fidelity to Midland National was $71,456.11 and at the time of surrender the balance in my *** ******* was $71,456.11. Midland national charged me 9.5% or $6788.33 for basically doing nothing for the 8 months they were in possession of my funds from Fidelity. If I had known that the surrender fees were this high, I would not have rolled them over to Midland National. I am also not sure why there was no increase in value during that time period? In any event, I would like to recover this surrender charge of $6788.33 without having to hire an attorney. I have attached two documents showing the Fidelity roll over from my 401K and the Midland National Surrender Charges.

  

  Business response

  03/15/2024

  Midland National is committed to our customers and regrets the frustrations expressed by our Contract Owner. Midland National appreciates the opportunity to review and respond to the feedback and concerns expressed and states that a full review has been completed and communicated to the concerned party. We respectfully disagree with the characterization of events ************* has provided based upon file documentation and information determined during our review.

• Initial Complaint

  03/05/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  Midland National Insurance has been deducting a monthly amount from my bank account for years. Somehow, original paperwork I had regarding my life insurance policy with Midland has been lost. I haven't been able to contact anyone at Midland who can tell me anything about the life insurance policy which I am paying for. Sadly this deduction has been going on for years. It is just recently that I discovered that I no longer have any paperwork in my possession. Please tell me what I need to do.

  

  Business response

  03/06/2024

  Midland National would be happy to discuss this matter further with ****************. A representative has attempted to call her at the number she provided; we were unable to reach her and left messages with our callback information. If **************** has any questions or concerns, we encourage her to contact us directly by phone at ************ or by email at **********************************

• Initial Complaint

  12/27/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I am having great difficulty with I policy I purchased for my ex husband. The policy for ******************************* was paid by me when we were married and thereafter. I should be the policy holder because I am the original owner of the policy and made all of the payments. However, the policy has somehow ended up in his name and I can't get any information on the policy. Here is correspondence mailed directly to me with his name on it as the insured. But somehow I am no longer the policy holder. I call and no will give me any information. I have even called and was told they cannot find my account. I have been dealing with this for at least two years. The dates are clear on the paperwork. I need help!!

  

  Business response

  01/09/2024

  Midland National regrets any dissatisfaction expressed by our policyholders.  We will be looking into this situation and in order to protect our customer's privacy and sensitive information, we will be reaching out to the consumer directly with a response.

• Initial Complaint

  12/27/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I have been trying since late October to get the company to transfer funds in a tax free **** exchange to New York Life. I am the trustee for the ***** Family Irrevocable Trust policy number **********. The contract is paying a paltry 1.1% in this market and I can't pursue better options with the company as the annuitants are now in ******** and the company is not licensed in ********. They are not processing the exchange as the contract has 2 annuitants at Midland and the new contract will only provide for one. It is difficult to find a new carrier who will allow for a one annuitant contract. Midland will not allow me to remove an annuitant on the policy without death or divorce, most insurance companies would allow this change. It is obvious given the past history of this company that they engage in business practices to make it difficult for clients to access their money.

  

  Business response

  01/08/2024

  Midland National regrets and dissatisfaction expressed by our policyholders. We will be looking into this situation and in order to protect our customers' privacy and sensitive information, we will be reaching out to the consumer directy with a response.

  Customer response

  01/08/2024

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *******************

• Initial Complaint

  12/12/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I have been a customer of *************************************** life ********************** and paid my premiums for over 20 years. All of a sudden I noticed my premiums werent coming out of my account. I called and find out that because my premiums were increased as my policy aged into 20 years that they canceled my policy, even though I never received a letter stating the premiums were gonna go up or that my policy was going to be canceled. Now 20 years later, they want me to go through doctors and underwriting, which isnt fair because I had a policy and was never contacted that that policy was canceled or was being increased, I am 20 years older and I have medical issues from serving my country for over 23 years. I should not have to go through a doctor and medical underwriting to reinstate a policy that they canceled. Also when I called I was told it was a reinstatement, but it really isnt it starting all over from the beginning and all the money Ive paid in over these 20 years is gone and at 60 years old they want me to start over with a brand new policy

  

  Business response

  12/21/2023

  Midland National is in receipt of your correspondence received in our office on December 12, 2023. We are committed to our customers and regret the frustrations expressed by our Policy Owner. Midland National appreciates the opportunity to review and respond to the concerns expressed and states that a full review has been completed and communicated to the concerned party. We hope that you find this information helpful. However, please feel free to contact me with any questions or concerns.

• Initial Complaint

  11/01/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I received my premium due notice for annual loan interest due on September 18, 2023. I paid the interest due on September 12, 2023. i received a statement from Midland dated September 11, 2023, showing balance before payment $11881.90 less payment of $984.26 new loan balance $10,897.64. A few days later I receive another statement from Midland dated September 22, 2023, showing balance before payment $11,879.28 less my monthly payment of $75.00 new loan balance $*********. I called first time on October 3, 2023, spoke with ******* she was no help at all. She was supposed to send me a copy of the loan history for the past year, this was to explain why my balance went from $10,897.64 back up to $11,804.28, It did my interest payment was applied as a regular payment and on the 18th, they applied loan interest for $981.64 back to my account. I called again on October 17, 2023, spoke with ****** no help but he did send copy of loan history. I spoke with two more people before I spoke with ***** a supervisor, he basically told me I made the payment too soon even though I told the person who took my payment over the phone it was my loan interest payment. Also, it is not written on any of the correspondence that I received if you make the payment early it would not be applied to the loan interest. In 2022 they did the same thing with my $1056.26 loan interest payment. I asked him if he could make an adjustment and give me credit, he said no. I feel some kind of way about this. This is taking advantage of people.

  

  Business response

  11/09/2023

  Midland National regrets the frustration expressed by the Complainant. We appreciate the opportunity to review and respond to the concerns expressed and state that a full review has been completed and communicated to the concerned party. Midland National respectfully disagrees with the characterization of events shared by the Complainant.

  Customer response

  11/10/2023

   
  Complaint: 20807501
  
  I am rejecting this response because: Every thing I said in the complaint is true. I paid the loan interest and did not receive credit for it. This happened in ****************************************************************************************** a timely manner. I will not stop pursuing this issue until it is made right. Midland  please do the right thing and adjust my account for the loan interest payments I paid.
  
  Sincerely,
  
  ************************************

  

  Business response

  11/20/2023

  The Company has been in contact with the complainant and will continue to work with her on this matter.

  

  Business response

  11/20/2023

  The Company has been in contact with the complainant and will continue to work with her on this matter.
  

  
  

• Initial Complaint

  06/26/2023

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  I am writing a complaint due to my disappointment and frustration regarding the cancellation of my father's long-standing life insurance policy #**********. As a 75-year-old ******* Veteran, he has faithfully paid his premiums for years, only to have his coverage unfairly canceled due to a lack of verification.My father has already provided the necessary documents proving his 100% disability status, and it is unfair to ask him to do so again. He is not aging backwards, and his disability status has not changed , his health has only gotten worse. Cancelling his policy without proper cause is not only unjust but also disrespectful to his service to our country.He provided the requested documentation once again from the VA and his other doctors verifying his disability as you can imagine this takes time. He submitted the documentation only to get a letter saying he did not submit it within the window required that his policy is cancelled Thank you for your attention to this matter.Sincerely,

  

  Business response

  07/06/2023

  Midland National strives to provide exceptional customer service and we regret that we did not meet the Complainants expectations.   Midland National appreciates the opportunity to review and respond to the feedback and concerns presented and additional communication has been provided to the concerned party.

  Customer response

  07/10/2023

   
  Complaint: 20235454
  
  I am rejecting this response because: He is is a 75 year old ******* vet that just had a heart attack and is requesting these documents when he goes to his appointments he can not help or hurry along the VA to fill out paperwork that you requested. Its wrong and you know it's wrong!!! all paperwork was submitted
  
  Sincerely,
  
  ***************************

  

  Business response

  07/11/2023

  We have reached out regarding the accommodation made and it appears a misunderstanding on the information may have occurred.  The Company believes the explanation provided has covered any concerns.

  Thank you.

  Customer response

  07/12/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ***************************

• Initial Complaint

  06/22/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I am trying to contact this business at the customer service number provided on website. As of this minute I have been on hold 1 hour and 10 minutes. They close in less than one hour from now. I would like to know if they are getting their messages by Pony Express or dial up service. This is ridiculous. If I were trying to notify them of a death the beneficiaries would be dead before they answered the phone. Of course you can go online but cannot ask questions. Do they only have one representative to cover the entire one million accounts they boast about having? It would be greatly appreciated if some human could answer the phone. It has now been one hour 18 minutes on hold.

  

  Business response

  06/28/2023

  Midland National is committed to serving our customers and regrets the dissatisfaction expressed by ****************. We can confirm the requested call back was completed and her service requests were satisfied. For future requests, besides calling, she may also contact us by email at ********************************* or use our website portal to obtain policy information, forms, or to submit service requests.

• Initial Complaint

  06/15/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Our parents past over five years ago and my brother and I haven't received the beneficiary check. Midland stated we need more paperwork. Our lawyer said everything is done and doesn't understand why we haven't received the check. My brother called and Midland said we need a letter of Testimony. This has been going on to long. Thank you for your time

  

  Business response

  06/21/2023

  The Company is happy to review ******************** concerns further and has made attempts to reach her at both the email and phone number provided.  We do require information on the policy number(s) and/or insured name(s) she is referencing.  Once received, we will review and work with her directly.  Thank you.

• Initial Complaint

  05/30/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I had a universal life insurance policy with this company since February ****. They never once sent an annual report to me (which my policy states they were required to do) with all the details of the cash value, outstanding loan amount that was being paid down, the interest rate, etc. I never received anything for 26 years and am now raising this issue with them, among other things they did wrong.Now the compliance team advisor said she would send those reports (a little too late) that I have never seen in my life. She then said in an email that she already sent them via *** overnight delivery, yet still I have not received anything. There is more to this storyIn October 2020 this company referred me to a crooked insurance agent that perpetrated serious fraud against me on an annuity electronic application, falsifying all material information about me. And this company, Midland, knows what he did to me, yet they still have this same agent appointed to sell their insurance products.In April 2023 the annuity company, to which my cash value was transferred from Midland via a **** exchange, had to give me all my funds back ($132,626.42) and waive all surrender charges (per the ********** Department Of Insurance) and the agent had to give back all of his commissions (chargebacks) he made off of me.This company, Midland, is the one that actually got me into this whole mess, and they do not even have the decency to send me all the documents I am entitled to have and which I never received. They cheated me, lied to me, and will not send me the documents in paper form as they stated they would. So I guess I will have to get an attorney.Also, Midland made several errors regarding tax reporting and they reported an incorrect cost basis (showing $8,623.42 less than I actually paid them) which I brought to their attention at the end of April 2023. I will be calling the *** to report them also. Too many so-called errors were made by this company, Midland.

  

  Business response

  05/31/2023

  Midland National is committed to our customers and regrets the frustrations expressed by our Policy Owner. We strive to provide exceptional customer service and believe the extensive documentation previously provided to ********************** should have met her requests.  We respectfully disagree with the characterization of events presented.

  Customer response

  06/01/2023

   
  Complaint: 20112183
  
  I am rejecting this response because:

  Midland still has not specifically addressed my issues regarding their cost basis mistake and the effect it will have on me. Also, Midland has not provided me with all annual reports for 26 years; several years are missing. All their mistakes have caused me tax problems in the past and still continuing . . .

  Sincerely,

  *************************

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩