Jackson National Life Insurance Reviews

Show reviews that mention
policy money complaint value premiums jackson national class action lawyer people death
Filter review
New Reviewer

Increased premiums

After 20 years with the same yearly premium just before my 60th birthday they increase my premiums by $900. NO

User's recommendation: 1.

View full review
ID
#2931836 Review #2931836 is a subjective opinion of poster.
Location
White River Junction, Vermont
Preferred solution
Price reduction
New Reviewer

Complaint

When mom died I submitted all documents and it took months to get them to pay. My mom also had a policy on my brother and after five years of calling they would never move the policy to me as the legal owner. My brother was homeless and truly needed the cash value of the policy that my mom had paid the premiums for more then 20 years.I final gave up
View full review
ID
#2726339 Review #2726339 is a subjective opinion of poster.
Loss
$2300
Preferred solution
Let the company propose a solution

POLICY NUMBER AND INFO

NOTHING, HAVE NOT RESPONDED, CANNOT SEEM TO GET ANYTHING OUT OF THEM ALTHOUGH THEY HAVE NO PROBLEM COLLECTING MY MONEY EVERY MONTH

User's recommendation: GO SOME WHERE ELSE.

View full review
ID
#2628532 Review #2628532 is a subjective opinion of poster.
Location
Medina, Ohio

I didn’t get the information I needed very disappointed.

It not really a complaint , I just needed information about my policy, it suppose to be 30 years policy and I was told that its 20 years. Never got a response how hard is that.

User's recommendation: No, I wouldn’t recommend.

View full review
ID
#1966569 Review #1966569 is a subjective opinion of poster.
Location
Monroe, Louisiana

Policy 000976280

This address was to changed to my brothers address @4610 Elcerrito Way Sacramento,Ca 95820. According to him you needed a copy of my mother’s death certificate. This was sent and I’m including it in this email. We are also trying to make 6 months of payments on his behalf.

User's recommendation: Get confirmation number. Request list of documents needed.

View full review
ID
#1909993 Review #1909993 is a subjective opinion of poster.
Location
Sacramento, California

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer
New Reviewer

Watch out for Jackson national insurance company and it’s brokers . Recklessly crafty in their presentations

We are deceived by their recklessly crafty sales presentations via its brokers , they enticed with that power point projections on how great the plans are by locking in from stock market gains and to evade risks and never loss any thing for each market trends ! For each market gain of your deposited value it will be contained without losing any cents by locking in ! Then after the policies are issued most clients thought it was the way it was presented during the sales pitch ! Most people didnt read the policy until saw their accumulated or deposited sum kept decreasing the values! Nothing about how they drained the deposited sum by charging a percentage for a so called guarantee life time income benefits rider on the amount clients deposited plus increased stock market gains if any. They also sold annuity to elderly who could hardly live long enough to benefit from their lollipop cookie jar crooked plans . Also if an annuitant lives long enough , there are percentages of withdraws charges such as 8 to 7.5% at 86 years old and so on .... on the annual withdrawal distributions Whats more , the guarantee life time income value is not the values they mislead clients that it is the amount for ones life time value amount to keep . But your own deposited amount which has been drained out and exposed to market risk is. Should you pass , the beneficiary could get nothing even their guarantee lifetime income amount is not exhausted ! Or with a nice sum which clients had been paying the rider into it! During the presentations , they mentioned nothing about all these but focused on those market locked in gains to your policy values as a bait ! Its disgusting to have found out later after they beat around the bush when you called, or write to them. We were given different versions over the custom service phone line Now they get that infamous woman Kerri page to pacify the consumers with pat talk /smooth talks on the website ! I saw her name jumped to my email one day after my questions to the website portal didnt get any answers . We bought the plan in 2015. I glanced through the 3 class action court reports below. One of them alleged that Jackson national prohibits its brokers to tell the truth of the features details during presentation . Remember there is a penalty charge with 8.5% on the total amount for the first year . In the class action suits below , Jackson has been ripping in million $ just from penalty and withdrawal charges annually In 2014 and 2015 there were over 100 million dollars collected from poor distressed policy holders just within the two years ! Other years since the records in 2009 or so , Jackson at least rips a profit of 20 to 40 million in penalty withdrawal fees for each year . Read the court reports below. My lawyer is working on it . Since that woman did not seem to be truthful to answer my questions but beating around her bush ! (1)Class action suit Filed on 10/12/2017 at the United States District Court, Central District of California. settles for 24 million . CIVIL ACTION NO. 2:17-cv-07485 https://www.lawyersandsettlements.com/settlements/17386/jackson-national-life-insurance-agrees-24m.html https://www.classaction.org/news/consumer-claims-jackson-national-life-insurance-company-breached-contract#embedded-document https://www.classaction.org/media/smithson-v-jackson-national-life-insurance-company.pdf https://www.classaction.org/news/consumer-claims-jackson-national-life-insurance-company-breached-contract#embedded-document Jackson national life insurance company settles class action for $22 million . The suit was filed by George Farmer in 2002, over the company's fixed annuity policies and the methods it used to set interest rates for new premiums and for premiums previously paid to fixed annuities. https://www.lawyersandsettlements.com/settlements/13482/life-insurance-settlement-jackson-national.html
View full review
ID
#1798247 Review #1798247 is a subjective opinion of poster.
Pros
  • Helplessly disgusting
Cons
  • Recklessly with no transparency
Preferred solution
My lawyer is handling it

Employee's need training and management appears to be MIA

There are a number of stupid things this Jackson National Life Insurance has done. Nothing nefarious just dumb. Like sending me an e-mail on Sunday morning requesting a response within four hours or the e-mail is automatically deleted. As if they believe they are affiliated with the CIA. Appears they are good about collecting money from policyholders but not good at communications and their customer service organization may have been designed by a Russian KBG Agent.
View full review
ID
#1505143 Review #1505143 is a subjective opinion of poster.
Location
Palisades, New York
Service
Jackson National Life Insurance Life Insurance

Jackson national life insurance no good ripoff

after 31 years I was dropped because they said I had no value but when I called someone there told me as long as I paid my monthly payment on time I wouldn't be dropped I was dropped june 2 2017 and they kept sending me bills each month which I paid and when I told them I wanted the money back for the months I paid when I was terminated they told me that was the grace period which nothing was said about that on my notice he said that was payment for my grace period and that my wife would have still received $50000 dollars for my death how would she knew that they should never dropped me I called every year and was told what my total payment would be for the next year I took all my papers to my lawyer and he told me would be a waste to try get anything back because I was called a high risk and they would use anything to get rid of me its a shame when u cheat poor people out of thousands of $s I am now going to post a complaint against Jackson national with the insurance commission and if u don't want trouble with them u better make some kind of refund to me what a shame when a b ig company like u has to ripoff good people
View full review
1 comment
#1468500

they absolutely are the worst

ID
#1110457 Review #1110457 is a subjective opinion of poster.
Service
Jackson National Life Insurance Life Insurance
Reason of review
terminated and loss of money
Loss
$25000
Preferred solution
Let the company propose a solution

Why Trust Reviews on PissedConsumer?

  • Professional auto and live moderation
  • 100% user-generated content
  • Equal opportunity and protection
  • Zero tolerance for fake reviews
  • Verified content

For more information read Blog article