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Business Profile

Annuities

Venerable Insurance and Annuity Company

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Annuities.

Reviews

Customer Review Ratings

1

Average of 17 Customer Reviews

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Review Details

  • Leslie C

    Date: 01/29/2024

    Leslie C

    Date: 01/29/2024

    Nice folks but no one knows what is going on. I've been trying for 7 weeks to rollover an IRA * this company has taken a simple process and made it so convoluted that both I and the receiving company are tearing our hair out. I've started calling multiple times a day just to keep this rolling along so it's not another month. Every time I call it's a different story of what is missing or how to send the info. My plans have been held up and in turn, another investment opportunity has come and gone. Horrible miserable experience. Avoid this company at all costs. Wow* unbelievable. I can't imagine how they can stay in business.

    Venerable Insurance and Annuity Company

    Date: 02/14/2024

    **************, The company has responded to you directly based on another submission you made to the BBB. Due to the confidential nature of the information we are unable to provide a detailed response here. We trust our prior response was satisfactory, but if not we ask that you contact the individual referenced in that response.

  • Jeff L

    Date: 10/30/2023

    Jeff L

    Date: 10/30/2023

    Terrible service and misrepresentation when it came to claiming life insurance following my dads death.I received 2 checks in same amount in after submitting insurance claim, noting my dad bought policy in ****. I assumed the 2 checks were result of mergers and changes in their companies, or that my dad had two policies - I didnt know. Note he bought original policy under Equitable Life Ins of ****, which changed to *************** then Venerable **************************** and finally Resolution Life. I got a phone call 3 weeks after receiving life insurance proceeds checks, saying they were issued in error, and for me to just cash one of the checks. I had already cashed both, asked them for a written explanation, saying I wasnt going to take any action based on a phone call. Then, if there was in fact an error, I would write them a check for the amount in error. They agreed with me.However, the very next day, I received an overdraft notice from my bank saying the insurance company had reversed the check, which removed my deposit. Note I had already transferred the $ to my investment advisor, so my checking account was overdrawn after this company took back the insurance money. Couldnt believe they could do this, and after just having talked with them, and with no mention of it by them.Extremely disappointing and very unprofessional! I would never do business with this group of companies.

    Venerable Insurance and Annuity Company

    Date: 11/22/2023

    We apologize that you were dissatisfied in your experience with the service center. As you stated the policy is administered by Resolution Life US (Resolution). We forwarded your comments to Resolution for review. Due to the confidential nature of the information and that this posting is public, Resolution indicated they will respond to you directly regarding this matter. We thank you for bringing your concerns to our attention.

  • Christine K

    Date: 08/07/2023

    Christine K

    Date: 08/07/2023

    I think they misrepresented the Annuity agreement. I was told and it was in writing that I would receive my payment on or before the 7th if every quarter. Today is 8/7/23 no payment. I spoke to A ***** then his supervisor ****,I was advised it 7 to 10 days now After they issue the check. So things have changed. This is the first I've heard of this.

    Venerable Insurance and Annuity Company

    Date: 08/15/2023

    Thank you for your submission. Due to our privacy practices, we are unable to post a direct response on this site. We have reached out to you directly to assist you.

  • Diane R

    Date: 06/12/2023

    Diane R

    Date: 06/12/2023

    Irresponsible transfer of a large amount of money, sent via USPS. Took several months and at least 15 phone calls to get Venerable to surrender cash value to Standards and Poor. Peter Lanigan, agent, from Milwaukee very difficult to get in touch with. Frequently does not return calls. Check was sent out on June 5, 2023 with no tracking number. Venerable has no way of tracking an $83,000. Annuity that is transferring to still does not have the check. Fearful Venerable lost my money

    Venerable Insurance and Annuity Company

    Date: 06/15/2023

    Dear Ms. Rusecki

    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.

  • Patrice G

    Date: 03/15/2023

    I used to be able to find information about my life insurance policy on the ING website. Then VOYA took over my policy, and now it appears to be handled by Venerable... or maybe it's Resolution Life now! It's very difficult to tell who is handling the policy.

    I took a loan against my policy a few years ago, and I've made some payments on the loan. I've been trying for about a month to find out how to get some kind of statement of the loan... with the original loan amount, the payments that have been made and when they were made, and what is my current balance.

    THEY KEEP SENDING ME DOCUMENTS THAT ARE NOT WHAT I REQUESTED, including by mail today. This is really beginning to feel like a scam!

  • Kathleen M

    Date: 02/21/2023

    Kathleen M

    Date: 02/21/2023

    Does anyone ever receive a 1099R form from this group? Second year in a row I haven't received one and they need approval from higher ups to resend. Although I never received the 2nd one last year either.
    Horrible customer service

    Venerable Insurance and Annuity Company

    Date: 02/28/2023

    Venerable Insurance and Annuity Company (VIAC) completed a thorough review of our customer files using the contact information included in the Better Business Bureau’s (BBB) Review and was unable to find any policy, contract or account that was issued by or is administered by VIAC which is associated to you. Please review your account documents to ensure you selected the correct company when submitting your Review on the BBB site. As we are unable to find an associated account, we cannot review or respond to your stated concerns. If you find that Venerable Insurance and Annuity Company is referenced on your account documents, please contact or service center at 800-366-0066 and a representative would be happy to answer any questions or address any concerns.

  • Renee L

    Date: 10/07/2022

    Renee L

    Date: 10/07/2022

    This company has terrible customer relations. It does not send regular statements about the status of current annuities. It doesn't confirm receiving important paperwork. It is making the surrender of an annuity a nightmare. It promised surrender in three business days, and nothing has happened with the funds. It doesn't return support emails in a timely manner or at all.
    Not a great way of doing business with clients' hard earned funds.

    Venerable Insurance and Annuity Company

    Date: 10/14/2022

    Due to the confidential nature of the information involved we are unable to provide any details on the BBB site. We understand a representative reached out to you directly by telephone and left voicemails in an attempt to address your concerns. We apologize for any frustration and appreciate the opportunity to respond. Please contact our service center if you have addition questions.

Venerable Insurance and Annuity Company is NOT a BBB Accredited Business.

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