Business Profile

Financial Services

Equitable

Headquarters

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Complaints

This profile includes complaints for Equitable's headquarters and its corporate-owned locations. To view all corporate locations, see

Customer Complaints Summary

117 total complaints in the last 3 years.
32 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

Initial Complaint
Date:05/15/2023
Type:Service or Repair Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
Ive contacted equitable multiple times to withdraw my money and close this account. The form stated that if ** not married to move to section 7. Then only for them to tell me this form needs to be notarized. Every customer service rep I speak to always have different answers. I want someone from processing to reach out to me so that this form is complete and I can be done with this!
Customer Answer
Date: 05/15/2023
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 and the matter has been resolved.

Sincerely,

*******************
Initial Complaint
Date:04/25/2023
Type:Customer Service Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
My 89 year old mother, ***************************, is applying for ******** through the ********************. The ******************** was under the belief she had a policy of life insurance issued though Equitable Life, policy number ********. My mother is not sure where this information came from and does not believe such policy exists. Accordingly, I have reached out to Equitable numerous times to inquire into this purported policy. The customer service agents I spoke with confirmed no such policy exists. However, the ******************** will not continue to process my mothers ******** application without something in writing from Equitable confirming she does not have the above life insurance policy. The Equitable customer service agents advised they cannot provide such a writing, nor have they been willing to transfer me to someone that can be of assistance despite my numerous pleas. To date, Equitable refuses to provide a writing confirming the above policy does not exist which is impeding my mother's ability to have her ******** application reviewed. She is 89, ill, with no income, and thus, time is of the essence.
Business Response
Date: 04/28/2023
April 28, 2023

Dear *********************************,

Thank you for your correspondence received in our office today regarding the complaint you received from **************************

Because of privacy concerns, and in accordance with our standard operating procedures, we cannot answer inquiries or complaints to non-regulatory organizations, but please be assured that we will provide a response to the policy owner which addresses the issues outlined in your correspondence. If you desire a copy of our response, please contact the policy owner, or his or her representative.

Sincerely,
******************************
Office of Consumer Affairs
************
Initial Complaint
Date:04/05/2023
Type:Product Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
My mother is 90 years of age and disable so I *********************(son) have been taking care of all her needs and bills. The live insurance policy is with A X A Equitable and she has paid ********** into a policy that is worth ********** and speaking with the agent is the hardest thing to do. I have called several times and the response took over 90 days. The last time we spoke he said that he would look into this policy which they no longer offer but i have yet to receive a response now going on 30 days and was also told that the policy will go until ********** and at that time the premium would still exist.My question is why she has to paid on a policy which the coupon says ****** and really pays over ****** monthly and she has exceeded the value of the policy only to receive face value of policy.
Business Response
Date: 04/19/2023
Dear ******************,

We are responding to your correspondence dated April 5, 2023, regarding ID# ********.

We have reviewed the clients concerns regarding the premiums for this policy.

This type of policy is a Flexible Premium Variable Life Insurance policy, which means that premium payments can be made at any time, for any amount, within certain premium payment limits.

There must be enough funds in the net cash surrender value of the policy account to allow for the monthly deductions to be withdrawn. The deduction consists of an administrative charge and a cost of insurance charge. As the age of the insured increases, the cost of insurance also increases. This causes the monthly deduction amount to increase each year.

Due to this being a flexible premium policy,the policy owner determines the premium mode and amount, not Equitable Financial. The billed premium will not change unless we receive a request to change it.

An illustration was provided at issue, signed by the policy owner, acknowledging that the illustration was reviewed, and it was understood that its purpose was to help the policy owner understand how the policy works and that actual policy values would probably be different than shown.

Illustrations have been provided to the policy owner over the years to assist with determining the premiums needed to maintain the policy.

Based on our review, the policy is performing in accordance with its terms and provisions.

If you have any questions regarding your inquiry, our office is available to help Monday through Friday, from 8:30 AM to 4:30 PM Eastern Time. You can also reach me directly at ***************************************** or by telephone at ************.
Customer Answer
Date: 04/21/2023
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

[Your Answer Here]
We have not seen or remember signing an illustration of this policy. I have spoken with my mother regarding this and she said " if I would have known that the policy was like this I would have never signed it."
I understand policies but why will a company send out a coupon to pay a $750.00 premium when in actuality you have to pay over $850.00 and the older you get the more you have to pay after you have already paid over $25,000.00 beyond the face value.
I think that the premium should be reduced do to senior citizens really don't have that kind of income with medical and other expenses. At this rate she bill be paying almost $1000.00 a month.
At this point I would just like for someone to work with ** regarding this concern and not take months to return a call of promises.

In order for the BBB to appropriately process your response, you MUST answer the question above.

Sincerely,

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

Business Response
Date: 05/02/2023
We are responding to your correspondence dated April 25, 2023, regarding ID# ********.

We have reviewed the clients additional concerns.

As previously mentioned, this type of policy is a Flexible Premium Universal Life Insurance policy, which means that a premium payment can be made at any time, for any amount, within certain premium payment limits. The policy owner determines the billing mode and amount, not Equitable Financial.The billed premium will not change unless we receive a request to change it.

Additionally, the policy owner may:
Pay a portion of premiums Example, if the premium is $500 monthly, you can choose to pay $250 out-of-pocket and use your cash value to pay the rest.
Not pay premiums If the cash value is large enough, you can use it to pay the entire premium amount.
Pay more than the target premium You can overfund the policys cash value early on so that investment gains build up more quickly.

As the age of the insured increases,the cost of insurance also increases. The policy information pages provided to the policy owner at issue included a table of maximum insurance cost rates.

Additionally, the policy owner was provided a 10-day free look period upon receiving the policy. This period allowed additional time to examine the policy. If for any reason the policy owner was not satisfied with the policy or policy terms, the policy could have been canceled by written request to receive a full refund of any premiums paid.Our records show the delivery receipt was signed in ****, acknowledging acceptance of the policy.

We have responded separately to the policy owner with a copy of the signed illustration, table of maximum insurance cost rates, and delivery receipt.

Life insurance is a critical part of a broader financial plan. As life changes through the years, so do insurance needs.

It is the policy owners responsibility to seek advice or set up an appointment with their financial professional anytime they feel necessary to review their policy. We strongly urge policy owners to consider reviewing their policy with a financial professional on a periodic basis. This way you can make sure this policy is performing towards your particular investment objectives, financial situation or needs and make adjustments along the way.

Our secondary review concludes that the policy was administered and has performed in accordance with the terms of the contract. The proper disclosures were provided in the policy and annual reports. Equitable Financial is unable to modify or amend the terms of the contract by providing a reduction of future monthly cost of insurance deductions.

If you have any questions regarding your inquiry, our office is available to help Monday through Friday, from 8:30 AM to 4:30 PM Eastern Time. You can also reach me directly at ***************************************** or by telephone at ************.
Initial Complaint
Date:03/06/2023
Type:Product Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
on February 6 2023 i reported a change of address and a request for tax documents. they continue my old address, but it is being forwarded to me. i have not received my tax documents yet. i need to get my taxes done!!
Business Response
Date: 03/17/2023
Responded to client in writing on 03/17/2023
Customer Answer
Date: 03/20/2023
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 and the matter has been resolved.

Sincerely,

***********************
Initial Complaint
Date:02/28/2023
Type:Service or Repair Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
November 2022, I purchased my daughter invisible braces from Byte. I called Equitable before I paid for my daughter's braces so I knew what they needed. They have had my claim since early Dec 2022 (I sent it with a tracking number, **** **** **** **** **** **** **--it was received on Dec. 9, 2022). Since Dec 2022, they have lied more times than I can count. They have been arguing about a tax ID needed from Byte and Byte told them because they are tele-dentist only the dentist provider number is needed. They still want the tax ID which has to come from Byte not me. Byte rep ****** has spoken with several reps and supervisors and as soon as they think they have this problem resolved with no tax ID, it comes back into play by another supervisor. Hence, the paid in full claim to reimburse me has never been addressed. Its been shelved. Every time I call I get a different answer from when I do secure emails to them. Their story changes a lot. Too many to count. Since we are almost 4 month in, all i want is the reimbursement owed to me and not a fake amount either. Equitable has threaten several times to pay me less than what was owed if I wanted. These folks are unscrupulous, and without remorse. I know they want to save money, but their shady practices need to be banned. My employee certificate number is ******** Dental Policy Number: ************ The is about a braces claim for my dependent daughter who is listed on my policy.
Customer Answer
Date: 03/08/2023
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 and the matter has been resolved.

Sincerely,

***************************
Initial Complaint
Date:02/28/2023
Type:Product Issues
Status:
UnansweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I made a legitimate claim (claim#***************, my id# is **************** for my dental implant with Equitable Dental (phone # ************, membership card says it's out of *********, **) for ******************** provided on 6/14/22, for $900. For some reason, Equitable sent the claim to a 3rd party, ********************* (based in ********, **) for approval. They requested my dental AND medical history in addition to my class designation from The **************** of *************** All of this was provided, which really have nothing to do with my claim. All was sent in, including x-rays from the dentist. They claimed my dentist said my teeth were in poor health, which he denies. As you can see from the service date, I've been going back and forth with Equitable AND ********** for MONTHS, spending MANY hours on the phone. Bottom line is, I paid my premiums, they accepted my money and now are denying this legitimate claim. Upon notice of denial, I asked Equitable what my next move is. They said I should appeal it. I did. They told me I should hear from them after a few weeks. I didn't. So I inquired on 1/18/**, ref # **-********* AND again on 2/6/**, ref #************. I'm still waiting. This is terrible business practices!Anyway, I'm really not interested in hearing from them. Believe me, I've heard enough! Again, bottom line, they took my premiums and are now denying a LEGITIMATE CLAIM. They never denied the claim was legitimate....they're just looking to wiggle out of compensation. I would like to get paid for my claim. Thank you in advance for your assistance. I sincerely appreciate it.
Customer Answer
Date: 03/25/2023
Better Business Bureau:

At this time, I have not been contacted by Equitable regarding complaint ID ********.

Sincerely,

*************************
Initial Complaint
Date:02/22/2023
Type:Service or Repair Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
My contract number ********* is an annuity and 20th my anniversary date was December 17, 2022. Paperwork to annuitize was filled out by my Financial advisor and faxed to Equitable in ** on December 23, 2022, well ahead of the 30 day due date of January 17, 2023. However, it needed a change of ownership form to me, the annuitant. This change was faxed to Equitable on January 17, 2023 by the Financial advisor. On January 23, 2023, Financial advisor and I were on the phone with Equitable and we were told that the **** was just approved. Yesterday, I contacted Equitable as I have not heard any kind of communication from them and was told by customer service that the **** was rejected due to no change of ownership. Apparently someone didn't change the ownership when it was faxed plus we were told it was approved. This needs to be corrected so I can continue with this ****. Please, I don't want to wait another year when it wasn't my fault!!
Customer Answer
Date: 02/23/2023
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 and the matter has been resolved.

Sincerely,

*****************
Initial Complaint
Date:01/23/2023
Type:Order Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I have been trying to close out a life insurance policy since February 2022 after my aunt passed away. For the last 11 months I have been getting the run around from the company stating they would mail me information to close the policy but never receive the information. Then when i send in verifications of my aunts death with a written statement due to the company not sending the correct information to my. The company still does not respond and when called I am told that the information is not acceptable but will not tell me what is needed just that they will mail out information that is never received. I am not sure what needs to be done but would like to close the policy so that I or my family; do not have to deal with this company any longer.
Business Response
Date: 02/06/2023
Dear ************,

We are responding to your correspondence dated January 23, 2023, regarding ID# ********.

We have reviewed the clients concerns regarding the policy surrender. We apologize for the delay the client experienced with trying to surrender the policy. Only the policy owner can request the surrender of a policy. The ownership needs to be updated in order to process a surrender.

Please note, we have spoken with the client and correspondence is being sent with the requirements needed to transfer the ownership out of the estate and update the policy owner prior to the policy being surrendered.

If you have any questions regarding your inquiry, our office is available to help Monday through Friday, from 8:30 AM to 4:30 PM Eastern Time. You can also reach me directly at ***************************************** or by telephone at ************.
Sincerely,
***************************
Customer Answer
Date: 02/06/2023
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

[Your Answer Here]
I have not been told what is going on I am still getting the run around from the business. I have talked to two different people and have not gotten any kind of response on what is going on.

In order for the BBB to appropriately process your response, you MUST answer the question above.

Sincerely,

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

Business Response
Date: 02/14/2023
Dear ************,

We are responding to your correspondence dated February 7, 2023, regarding ID# ********.

We spoke with the client on February 2, 2023, and informed her that correspondence was being sent with the requirements needed to transfer the ownership out of the estate prior to the policy being surrendered.

Correspondence was sent on February 6, 2023, outlining the requirements needed. A follow-up email was sent to the client on February 8, 2023, with a copy of the correspondence and informing her to contact me directly if she has any further questions regarding the requirements.

If you have any questions regarding your inquiry, our office is available to help Monday through Friday, from 8:30 AM to 4:30 PM Eastern Time. You can also reach me directly at ***************************************** or by telephone at ************.
Sincerely,
***************************
Initial Complaint
Date:01/20/2023
Type:Service or Repair Issues
Status:
ResolvedMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I want to report to the bad business practices this company, Equitable Retirement Services, has shown me with regard to my issue.The issue is I called them to find out how to go about getting my state tax withholdings back on a check they sent to me. The call process started in *************** where the helpful Rep was not able to provide me with instructions. She requested a Supervisor to call me by 72 hours. This was in late Dec. I am still waiting for a call back. Since then I reached a Rep in ******* who informed me what to fax to get the process started. The turn around time would be 3-5 business days to get my check in the mail. I faxed the documents on Jan. 5th. I called to check on the status on January 10th or so. The Rep told me the Review process will be completed in a day or two a check will go out to "you" by the end of the week. I think we are now way past the 3-5 day turnaround. I called back on January 20th to find out that the Rep I spoke to a week ago put the request in the day I called him. I complained to them that they have lied/mis informed me, and I would like the refund check today! The Rep said she would call me back at the end of today to let me know the status of the check. Observations I noted: there is an inconsistency in responses to the same question. I have a partial payment check in my hand minus the state with holding taxes. There was no guidance on whether I will be getting a new check with the total amount or just the with-holding value. I see they are lacking in organizational skills as they could not commit to their turnaround policy time. The emphasis here is that this is my money, and they are negligent and careless in the way they are managing it. For those of you who are reading this should be aware that this a bad practice of detaining my money and using the excuse that it has to go to the Review process. It was in the Review process at the beginning of Jan.2023. Perhaps the next correspondence will be the SEC.
Business Response
Date: 01/31/2023
Good afternoon,
A response has been sent to the client directly.
Customer Answer
Date: 02/02/2023
No one from Equitable has contacted me.
Business Response
Date: 02/16/2023
Good Morning,
In response to ****************** concerns, we have had multiple telephone conversations with him whereby we have addressed his concerns. Because of the delay in him receiving his funds we offered to pay him voluntary interest in the amount of 1% of his surrender proceeds for 45 days. Our check was mailed to him on February 10, 2023. In addition, we mailed him a corrected ****-R for tax year 2022.
Customer Answer
Date: 02/16/2023
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 and the matter has been resolved.
I am very pleased with the Equitable response and level of concern for me as a customer.
Thank you.

Sincerely,

***********************
Initial Complaint
Date:11/07/2022
Type:Product Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
They are incomplete, liars, misleading, they dont care about the customers, they are very willing to take your money but not so willing to give it back. Ive been trying to get my money since August 1st of this year, here it is November 4th and I have not received the 35k that belongs to me. This money that is a down payment to my house. *** spoken to several representatives including my broker ******************************* who have given me excuses, because of his and the representativesincompetence I might lose the house. This is my money, theyve used jargon to try to stall me into receiving my money. I would like this resolved immediately and would like everyone to know how unreliable they are. I will share with family, friends and co-workers at the ***************** my horrible experience with Axa Equitable.
Business Response
Date: 11/14/2022
After reviewing this submission, it has been determined that we will need additional information from the consumer to further investigate this complaint. If the consumer could please confirm the policy or provide policy documents relating to this matter we will be able to further investigate this matter.

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Equitable is NOT a BBB Accredited Business.