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Business Profile

Investment Management

Foresters Financial Holding Company, Inc.

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Investment Management.

Complaints

This profile includes complaints for Foresters Financial Holding Company, Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see

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Foresters Financial Holding Company, Inc. has 54 locations, listed below.

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    Customer Complaints Summary

    • 30 total complaints in the last 3 years.
    • 7 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.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:01/17/2023

      Type:Product Issues
      Status:
      Unanswered
      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 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

      Date:11/30/2022

      Type:Order Issues
      Status:
      Unanswered
      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 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

      Date:10/14/2022

      Type:Product Issues
      Status:
      Unanswered
      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.
      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 Answer

      Date: 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

      Date:10/07/2022

      Type:Customer Service Issues
      Status:
      Resolved
      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 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 Answer

      Date: 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

      Date:09/29/2022

      Type:Billing Issues
      Status:
      Resolved
      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 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 Answer

      Date: 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

      Date:09/26/2022

      Type:Product Issues
      Status:
      Unanswered
      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 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.

    • Initial Complaint

      Date:08/02/2022

      Type:Service or Repair Issues
      Status:
      Unanswered
      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.
      This is the company that my mother had her life insurance through. I filled out a claim and mailed it in at the post office on 7/2. The website states 5 to 10 business days to file a claim. I called on 7/19 to check the status of the claim and they had not yet processed it and i was told it would take 15 business days. My sister who also filed a claim received her check on 8/1. I called them on 8/2 to check the status of my claim and was told an error had been made on the check they made out to me and that it would take another 2 weeks. This is not acceptable. I asked if they could expedite it and overnight a check and was told no. Horrible company to work with when you have lost a loved one. Meanwhile I have bills that are due since I fronted $9000 for additional funeral expenses for my mother that passed 6/6. Over 2 months since she passed and life insurance is still not paid.

    Foresters Financial Holding Company, Inc. is NOT a BBB Accredited Business.

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