Annuities
Venerable Insurance and Annuity CompanyThis business is NOT BBB Accredited.
Find BBB Accredited Businesses in Annuities.
Reviews
Customer Review Ratings
Average of 17 Customer Reviews
Want to share your experience?
Leave a ReviewReview Details
Review fromAundraa P
Date: 04/22/2025
1 starAundraa P
Date: 04/22/2025
Complaint: Venerable Annuity and Insurance - Withholding Claim Payout Complaint Description: My family and I have been dealing with Venerable Annuity and Insurance for several years, trying to claim a payout that has been unjustly withheld. Despite following all instructions and providing all requested documentation, we have been met with continuous delays and inconsistent communication from the company. It feels like we're being given the run-around, which has caused significant stress and financial strain on our family. We are extremely frustrated with the lack of progress and transparency.Desired Resolution: We seek immediate action to resolve this matter and release the claim payout that is rightfully ours. We request a clear and definitive timeline for the resolution of our claim and an acknowledgment of this complaint from Venerable Annuity and Insurance.Venerable Insurance and Annuity Company
Date: 04/24/2025
We apologize that you have been dissatisfied with your experience. We are thoroughly reviewing the details of your concerns. Due to the confidential nature of the information, we will respond to you directly in writing regarding this matter, as the Better Business Bureau site is public.
Review fromkm c
Date: 04/14/2025
1 starkm c
Date: 04/14/2025
Venerable took over my annuities from Voya. In the process, there was incomplete data transfer from Voya to Venerable, a fault of Voya for not sending, and a fault on Venerable as a finance company for accepting incomplete data without follow up, resulting in, they are declaring that I have to pay taxes on my all initial premiums!! As a finance/insurance related company this is unacceptable performance, bordering on negligence!I found out about this a month ago, and I have been given the round-a-round each time I called their CS (writing to them ended up with a reply to call their CS, no help!). Their excuse is, they are not getting any replies, so they will wait, without further action nor urgency on their part. This is clearly unacceptable, as I am on the hook to pay a lot of money on taxes on my initial premiums!! If there is anyone out there that can connect me to some senior management to pay attention on this matter, I would much appreciate it!In the meantime, I cannot recommend this company to do business with!Venerable Insurance and Annuity Company
Date: 04/16/2025
Dear Mr. *************** have completed a review of your concerns. Due to the confidential nature of the information, we will respond to you directly in writing regarding this matter, as the Better Business Bureau site is public.
Review fromRichard K
Date: 03/12/2025
1 starRichard K
Date: 03/12/2025
This company is bad news! My annuity was transferred to them without my knowledge and my payments are inconsistent when before they were not. Itsno wonder theyre rating is so low.STAY AWAY!!Venerable Insurance and Annuity Company
Date: 03/13/2025
Dear *** ********,
We have completed a review of your concerns. Due to the confidential nature of the information, we will respond to you directly in writing regarding this matter, as the Better Business Bureau site is public.
Sincerely,
***** *******
Review fromJoy H
Date: 01/21/2025
1 starJoy H
Date: 01/21/2025
My investment account was transferred to Venerable Insurance and I was never notified as to the date, new account number, contact information etc . . . . . so one morning I check on my investments and 1.3M is missing. I tracked it down to this transfer but spent hours on the phone trying to get a new account, trying to understand why beneficiary information wasn't transferred with the account, and trying to get them to include this annuity in a feed back to Ameriprise as the *** account has done for years. While everyone I contacted was somewhat helpful no one could explain why I never received new account information and why I was blindsided the morning of the transfer. Hopefully I can transfer this to another investment company that will appreciate having my annuity monies.Venerable Insurance and Annuity Company
Date: 01/24/2025
We thank you for reaching out. Due to the personal and confidential nature of information required to respond to your inquiry, we are unable to provide a response on a public forum such as the BBB Review page. We will reach out to you directly to discuss your concerns.Review fromOscar G
Date: 12/10/2024
1 starOscar G
Date: 12/10/2024
I started receiving small monthly checks, I had no idea who venerable was, I made contact with them and was told that all paperwork had been mailed out to me. I explained that I never received paperwork & requested my total amount to pay pending bills. I was denied my own money. I made several calls was spoke with different employees and received different answers. I feel that this company targets minorities & is not in business to help anyone but themselves. I never received any type of information from venerable only checks. How can they do this to senior citizens ****************** *.Venerable Insurance and Annuity Company
Date: 12/13/2024
We are unable to provide you a detailed response on the Better Business Bureaus public review page due to the personal and confidential nature of the information. We have previously provided you detailed responses to this inquiry which we received from your attorney and the Texas Department of Insurance. Please refer to those responses. Should you have new questions you may contact our service center.Review fromstacy E
Date: 10/29/2024
1 starstacy E
Date: 10/29/2024
Parents have had an annuity with Venerable for about 20 years. They both are in a living facility Mom is in assisted-living Dad has been in *********** since April 2024 He is currently right now this minute on his deathbed Been fighting for access to their account for about two months Follow their instructions and got a POA To be able to get access to the account by either one of the three sisters Sent us a decline letter without a reason for the decline. Every time you call a representative, you get the runaround Even had a lawyer on it and my lawyer could not get through We would like to use the money for my parents funerals. My dad could go any minute Still dont have access They are the worst I think its a crime and shame that hard-working adults cannot get the money they need to take care of them in their end of life Would not recommend this company To anyone not even my worst enemyVenerable Insurance and Annuity Company
Date: 10/30/2024
Thank you for your review, we are sorry you are having difficulty accessing your parents information. While your intentions may be good, unfortunately that is not always the case and the Company must ensure we do not share information without having proper authorization. We have been in contact with you by phone and will continue to work directly with you and your attorney to obtain the needed authorization. We are unable to share any additional detail using this BBB review process.Review fromDeborah M
Date: 07/08/2024
1 starDeborah M
Date: 07/08/2024
I have an annuity with Venerable. I am supposed to start getting payments next month. I cannot access my account with either Chrome or Edge from my computer. There is a problem with their firewall certificates. I can only log in through my phone. The people on their help line keep saying that it is my computer but my husband has tried to access the account from his computer and can only reach it via Firefox. They have definite IT issues which make me very nervous about this company.Venerable Insurance and Annuity Company
Date: 07/09/2024
We are sorry you are having access issues, we are not aware of any widespread issues accessing our customer access portal by other customers. A representative will reach out to you directly to troubleshoot any issues you are experiencing. You should receive a call today from our service team. Thank you for your post and for bringing it to our attention.Review fromRobin G
Date: 04/15/2024
1 starRobin G
Date: 04/15/2024
My father has a fixed flexible annuity with Venerable. He passed away in February and there are 4 heirs(his children). We all filled out and sent in paperwork and the company confirmed receipt of all 4. Only one of us has received a check that he could cash. One received a bounced check and two received no check. We have called the company many times, and last Wednesday i was assured that the checks were in process or had **** sent. This is Tuesday. Still, there has been no further distribution and no replacement of the check that bounced. We are pondering our next steps with the securities and exchange commission, perhaps. It has been very frustrating and has not been handled properly or in a timely manner.Venerable Insurance and Annuity Company
Date: 04/17/2024
*****, sorry you were unable to get information when you contacted our service center. Due to the confidential nature of the information, we are not able to provide you a detailed response on the BBB review site. A customer service representative will reach out to you directly to discuss your concerns.Review fromMike H
Date: 04/10/2024
1 starMike H
Date: 04/10/2024
As 401K/***, my holdings were with **** then VOYA, no problem.When VOYA sold to Venerable, they converted my 401K/traditional *** to an annuity that only earns 1.4% fixed.I called to talk to a rep and could hardly understand what he was saying through the heavy accent.Clearly outsourcing, which is a terrible idea when you are talking about large amounts of money and long term investing. You need to be able to understand what the person is telling you.I took my money out as fast as I could.It still took 2 weeks for them to complete the transaction.Cost me 20% in "surrender" and "market value adjustment" fees.It will be worth it in the long run and I will recoup my losses.I do not recommend Venerable to anyone.I do recommend you put your money with any other investment firm/advisor.The 1 of 5 star customer review rating is accurate.Every review is 1 star . . .what does that tell you.Venerable Insurance and Annuity Company
Date: 04/12/2024
We apologize that you have been dissatisfied in your experience with our customer experience center. We have completed a thorough review of your concerns. Due to the confidential nature of the information, we will respond to you directly in writing regarding this matter, as the Better Business Bureau site is public.Review fromLynn H
Date: 02/09/2024
1 starLynn H
Date: 02/09/2024
We are a small township with two employees trying to make a pension withdrawal. Our pension company is blaming Venerable for extreme delays, but Venerable will not even answer whether they have received one or both requests. Instead, they are requesting a resolution for authorization with whom they can speak to. I have decided that our next meeting agenda will include changing pension companies promptly to avoid this type of lousy service in the future.Venerable Insurance and Annuity Company
Date: 02/15/2024
We are sorry you are having difficulty accessing information. Due to our privacy policy, we are unable to provide you a response on the BBB site. A representative from our ************************** will contact you directly.
Venerable Insurance and Annuity Company is NOT a BBB Accredited Business.
To become accredited, a business must agree to BBB Standards for Trust and pass BBB's vetting process.
Why choose a BBB Accredited 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, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.
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. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.