ComplaintsforForesters Financial Holding Company, Inc.
Investment Management
HeadquartersMulti Location Business
Need to file a complaint?
BBB is here to help. We'll guide you through the process.
Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
08/22/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
On August 8 I called to request a copy of my policy after waiting on the phone for more than 3 hours to speak with someone , I was able to get thru , the attendant told me that it would email it to me . On the 11 th still no email so I sent an email explaining this and requested the copy again . Today the 22nd still I do not have the copy . So far 2 weeks just to send an email with my documents I requested .Initial Complaint
07/31/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
I completed a refinancing application through Auto Pay direct in June of 2023. I was told on multiple occasions everything that good to go. I paid out money to change my insurance policy so that it was in compliance with what First Investors needed to fund the loan. I paid for notary of documents and received confirmation that both parties had signed the documents and it had been sent to funding. After a month of providing all information that was needed to process my request they denied my application off the basis of a phone number connecting them to the business I work for. I work for a small orthodontic group that has multiple office locations and has recently gone through a buyout where a new management company has taken over and is in the process of changing the business information over. Name/Tax ID/Phone greeting etc. I am in management and work from home and so does my leadership. We do not have direct business numbers. After being told that my manager ****** couldn't be used to verify employment because she has a cellphone number I provided the office number and the time to call to reach another manager who could confirm I worked for the company. ****** with First Investors did not call to get this done in a timely manner. I provided check stubs, offered bank statements and explained the changes within the business. I am being discriminated against based off the type of employment I have. When I have proven without a doubt who I work for. It is horrible business practice to delay the process out for over a month and have someone spend money and sign documents and give personal information over just to deny it over an issue that is out side of my control. Not all businesses operate the same and therefore everyone's situation should be handled differently.Initial Complaint
06/14/2023
- Complaint Type:
- Product Issues
- Status:
- Unanswered
4/10/23 - Surrender Request Sent - Certificate # *******. Universal Life 2 Plan. Issued 1/17/1989 - 35 years. Husband listed as member, wife as Rider. Monthly premium $54.98/mo. E-mailed Completed Surrender Request form, Copy of Original Certificate. Checked option for deposit funds into the same account the monthly Premiums were being taken out of. Requested in E-mail and when funds would be deposited on how much. Also phoned to see if they needed any further info. Said they had everything and that funds could take up to 25 business days. Called several times, we wanted to make sure the bank info, and to see how much would be deposited. Just a few days shy, we called again to verify info, they now will not speak to me (wife) said I wasn't the Member. Husband called they claimed they had sent an e-mail from the last time I phoned them requesting a Government Issued (Driver License) from husband. We checked e-mail and spam, and no document was received. Requested a Supervisor call wife, and was told would receive a call by end of the day. No response. Requested on their secure website a call and where we were now in the process. Auto reply would receive a call in 2 business day. No Response. Wife (rider) called again, will not speak until husband gave permission. Gave permission. Called again, confirmed banking info. Was told the clock restarted after they received Driver's License. Requested to speak to a supervisor. No response. Called again, was told ***** business days and now a check would be sent. Again, asked for a supervisor/manager/president of company to contact me. A Manger finally called, and stated it's company policy on check. **************** people didn't know about this policy. Asked for a copy of this policy. Said no help getting funds deposited into checking acct. would call or leave message with tracking info. Surrender request said deposited into Account they are taking premiums from. STILL No funds or tracking no. 6/14/23Initial Complaint
03/02/2023
- Complaint Type:
- Product Issues
- Status:
- Unanswered
I had disability insurance with this company when I had my house at the address ****************************************************************. I sold my house and canceled the insurance in May of 2022 and this company was supposed to refund me $24.87. They told me the check was mailed out on June 24th and I've yet to received it. I've called this company 7 times and spoke with 7 different people and each of them said they will get this resolved and they will cancel that check because it was sent to the wrong address and send it to the new address. I spoke with someone December and said a new form has to be filled out I don't know what reason and they will mailed it to me. I haven't heard from them anymore. I want my money and this resolved and I will never trust nor used them again and I will never recommend this company to anyone, terrible service and they are all liars.Initial Complaint
01/17/2023
- Complaint Type:
- Product Issues
- Status:
- Unanswered
I have had a life insurance policy with Foresters Financial which has been paid for yearly for many years. My certificate number is *******. On December 9, 2022 I mailed in a Certificate Surrender Request Form to Foresters Financial by Certified Mail Return Signature Required. I received the return card a few days later. I have since talked to an agent by phone three times. Each time I was told the check was being sent by ***** and would arrive by December 27, 2022, then by January 12, 2023 and then by January 17, 2023. Today is the 17th, and still no check. The check should be for some more than $12,218.78, as that was the surrender value as of September 4, 2022, according to the Annual Statement dated September 30, 2022. Today I went online to Foresters, and while trying to sign in, it indicated that my Certificate Number was not valid. Please help!Initial Complaint
11/30/2022
- Complaint Type:
- Order Issues
- Status:
- Unanswered
I have a $50,000 insurance policy due me since my significant other passed away on December 25, 2021. The policy was written in the name of ************************* and the insurance company is delaying the payment because they say I must prove ***** is ***************I have a written communication from the company addressed to ***** sent to my old address. I have complied with all the companys requests yet they still are delaying payment.Initial Complaint
10/14/2022
- Complaint Type:
- Product Issues
- Status:
- Unanswered
Foresters has continued to withdrawal money from my bank account even after sending them the necessary documentation to cancel the policy. They have been charging me $20.42 per Month and I would like to be refunded $200 for just this year's charges, even though I've attempted to get help on how to cancel my term policy since I was divorced in 2015. I've had my exhusband send in documentation and I've sent in documentation myself to cancel the policy. Still they continue to withdrawal the money. When I call to speak to the company, they have another man from an additional company try to call and have me sign up for additional plans. I have expressed several times I'm not interested and would like to close out and lose this policy even if that means I lose all my money I've paid. I just want them to stop taking my money *** out of my account. I finally was able to contact my institution and pay money for them to stop the *** withdrawals.Customer response
11/08/2022
Better Business Bureau:
At this time, I have not been contacted by Foresters Financial Holding Company, Inc. regarding complaint ID ********.
Sincerely,
***************************Initial Complaint
10/07/2022
- Complaint Type:
- Customer Service Issues
- Status:
- Resolved
My wife ******************* open a life insurance account with Foresters in 2019 (certificate #*******) and died 10/25/21 of natural causes (********** ****** ******). I attempted to contact Foresters customer service by phone, but repeatedly had prolonged waits on hold and then call was dropped. I Emailed Foresters customer service on 8/22/22 without response, and again on 8/31/22 with Email response on 9/1/22 advising that I call the customer service number. I again called the number provided in the Email response and after being on hold for 5 min, my call was dropped. I then went to "How to file a claim" Foresters Financial website, completed the form online, and mailed the required information including a copy of my wife's death certificate on 9/2/22 to the indicated address (Foresters, *********************************************). As of today, I have not received any written or Email reply.Customer response
10/15/2022
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 and the matter has been resolved.I thank you for your assistance in this matter, as my requests for information had been ignored until you contacted Foresters Financial ******* ** with my concerns.
Sincerely,
***************************
Initial Complaint
09/29/2022
- Complaint Type:
- Billing Issues
- Status:
- Resolved
I took out a life insurance policy for my fathers who is in his 80"s through Foresters Financial. I was told by the company on 9/21/22 that his policy was cancelled due to non payment. I asked to review payment history with the representative which established that they were missing a payment. However, my records showed a payment that was not in their records. The representative also stated a payment for the value of the policy was electronically sent to me but she could not verify a date and amount. I found it very strange that that information could not be provided and I made it clear that I had not received any payment. She advised me to get proof of payment from my bank and fax it into the company for the missing payment made in July 2022. A few days later I did fax proof of payment with a strong request for re-instatement. Strangely enough the payment was returned electronically into my bank account by them the very next morning after faxing in the information. I've been calling for the past 3-4 days asking to speak with a supervisor and I'm told someone will call me back and that never happens. My father is over 80 years old and we cannot find any company that would over him at this point. I made it clear that I'm very fearful of any unfortunately event during the time it's taking to resolve this matter. 1. I proved the error was on their end, 2. The lack of communication is not acceptable as a business, 3. I'm definitely getting a feeling of fraud since they obviously received my payment in July but returned it in September 2022. 4. Today, as I'm writing this review, once again I'm on the phone with the company being told that a supervisor will call me back and I have to wait within ***** hours which has already happed multiple times. I regret using this company and want the world to know not to do business with them. How can you help me with this matter?Customer response
10/24/2022
Better Business Bureau:
At this time, my complaint, ID ******** regarding Foresters Financial Holding Company, Inc. has been resolved.(By clicking "OK", your complaint will be closed as Resolved.)
Sincerely,
***************************Initial Complaint
09/26/2022
- Complaint Type:
- Product Issues
- Status:
- Unanswered
I requested an accelerated death benefit against my life insurance policy and I started the process back in March of 2022. I have gotten numerous letters from the life insurance company and due to it being a contestable claim they explain it would take longer. First it was 30 days then it was 90 days . Finally I received notification it was approved and my insurance policy would be dropped to a lower payout upon my death and I should have the money by 9/23/22. Well I have had no money and I call and now I am getting the run around. The gentleman handling my case has not called me back and I have no idea where I stand at this point. They could not even tell me my new premium payment on the reduced policy amount. I am just a bit concerned that if I die my beneficiary will have to go through all types of h*** to get the payout I am paying for. I wish I had never changed to this life insurance company.
*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. ↩
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
Customer Reviews are not used in the calculation of BBB Rating
Customer Complaints Summary
25 total complaints in the last 3 years.
6 complaints closed in the last 12 months.