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After my 93 year old parents died (5 months apart) we contacted Voya with death certificates, etc. Many forms later (something on our end was always missing apparently) and trying to get account info from Jacksonville, FL or Windsor, CT agents the process was a true nightmare. The executor, my brother, was stone walled every time he called and this lasted for 10 months. Finally with our attorney on a conference call we found an agent who listened to us and followed through. Prior to this one agent hung up on us, others couldn't find the account, one told us she was on maternity leave and had just returned to work and couldn't help us. I was in tears on the phone more than once believe me.
Our family didn't even know how much money was in the account and actually didn't care because after multiple attempts we were determined to follow this to the end, even if there was only $2.00 in the account. It has finally been settled and I am glad we persevered as the amount was significant. My advice to anyone whose elderly family members have an account with Voya is to get ALL their information (account numbers, account balances, etc.) before they are deceased. I understand it was our fault we didn't have this info, except for the account numbers, but the customer service was beyond horrible. We were entitled to this money, why did Voya stop us at every move for almost a year? Penn Mutual distributed the money within 10 days. If I'd heard on the phone, "Welcome to Voya a 2019 world's most ethical company" again (after at least 50 phone calls) I was going to be sick. Stay clear.
Husband got total of 4 checks, and now because he went back to work early because what they pay out is a joke and you cannot pay your monthly bills with it, they tell us now we owe more than half back! How is this possible when someone is out of works 4 weeks and 4 checks, and you got to pay back more than half back! Rip off artists. Don't use them if possible!
I would caution anyone to consider using Voya for your life insurance. Working with the death claims department after my dad's death in January has been a nightmare. Every time I call I get a different response from each representative. Sometimes all our paperwork is complete, at other times pieces are missing. Consistent communication is non-exsistent.
One of my siblings sent in his paperwork for the claim two times and both times it was not "received". One representative told me that when mail falls on the floor in the mail room it is thrown in the trash. (Could they not bend down and pick it up?) I've been in communication with them since May and just found out today (July 3rd) that I am missing my marriage certificate. I find this out after I have talked to them several times since May? One representative would not tell my sister any information about the forms missing for my brother (confidentiality), but then sent her a whole new packet and included another customer's entire completed paperwork in with her mailing. Confidentiality?? They couldn't tell us that they received our brother's forms, but sent us someone else's life story??!! I could go on and on, but I am giving this company a very dissatisfied rating.
I cashed in my NY Life Whole Life (Permanent) Policy within just a few years of it being fully paid off (shame on me for not asking more questions of both Agents). I bought a Universal Life Policy from Voya because of the opportunity as well as the flexibility. As a small business owner, I know I will have ups and downs in my business. Opportunity never occurred. Never saw increases even guaranteed 3-6%. Flexibility never occurred and they refused my premiums because they were "late" even though the amount and date had been provided to me by telephone by their representative. I lost my $106,000 investment overnight with no help from anyone. I submitted a complaint to the AZ Attorney General's Office but they buried them in documentation which made me look like it was my 'error' so they dismissed the complaint.
This review is based on my experiences with Voya, who I think is contracted by the Michigan Office of Retirement Services. First, it would be nice, and at this point a small miracle, to actually receive a call back. This department had at least 5 different opportunities to do so but NEVER followed through. It appears no one is able to speak directly with each other. They can only submit requests from each other that takes 24-48 HOURS! Talk about inefficient! The representatives on the phone also don't have a direct line to the processing department so their help is limited though they were always kind and polite. The processing department seems to hold all the answers but they are clouded in secrecy. From my understanding, there is no way to contact them directly. They are surrounded by an impenetrable force of apathy.
The processing department is so slow and incompetent that it took them 40+ days to reprint and mail two checks. 40+ DAYS! This department as a whole needs some extreme intervention to fix its internal structures. Overall, it was a hellish experience. I now proudly say I'm a Voya survivor. I might make that into a t-shirt. If possible, avoid Voya at all cost. This review is based on my experiences with Voya, who I think is contracted by the Michigan Office of Retirement Services. All I know is that when I call the Office of Retirement I get a Voya representative on the phone.
First, it would be nice, and at this point a small miracle, to actually receive a call back. This department had at least 5 different opportunities to do so but NEVER followed through. It appears no one is able to speak directly with each other. They can only submit requests from each other that takes 24-48 HOURS! Talk about inefficient! The representatives on the phone also don't have a direct line to the processing department so their help is limited though they were always kind and polite.
The processing department seems to hold all the answers but they are clouded in secrecy. From my understanding, there is no way to contact them directly. They are surrounded by an impenetrable force of apathy. The processing department is so slow and incompetent that it took them 40+ days to reprint and mail two checks. 40+ DAYS! This department as a whole needs some extreme intervention to fix its internal structures. Overall, it was a hellish experience. I now proudly say I'm a Voya survivor. I might make that into a t-shirt. If possible, avoid at all cost. This review has been cathartic. You suck Voya!!!!
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I got a letter from Voya with a policy number. One for my mom and one for my dad. Got the run around. Couldn't tell me anything. Well filled out all the paper work, got death certificates and fax to them. They told me today that it was a 20 year pay off. Stated 1973 and paid off in 1993. My dad died 19 years ago and my mom 3 years ago. And just like everybody else I have got the run around really bad. This started April 23rd this year. But what got my was that they are trying to tell me that these are only good for 500 dollars each. Somewhere I just don't believe that.
I have been trying for over A YEAR to get Voya to hand over my late spouse's retirement funds, held and managed through the School of the Art Institute of Chicago. First Voya denied holding them. Probate proved that they did. After two requests, they finally sent paperwork. At this point, I've been dealing with receiving benefits for other institutions for some time now, so I know what I am doing. Every step of the way they find something wrong--something they didn't provide, etc. I finally, finally receive in the mail news that they have set up a fund for me. Lovely, I requested a check, but whatever. I go to their web-site -- and of course it's down. Phone call this morning: they deny holding the funds. Guess I'm gonna need another lawyer....
I had my employee 401K with Voya for a number of years, and decided to try their "Professional Management" service. What a costly mistake. By simply changing the retirement date on my profile page from 4 years out to 1 year out, their "Professional Management" software automatically sold over $200,000 worth of stock at a $39,000 loss (on 12/24/18 - the day that it tanked but recovered its value the very next day 12/25/18), and purchased bonds/index funds with it. All without my knowledge or as much as a phone call. When I questioned this, a manager actually apologized, and (stammeringly) told me that their "Professional Management" is basically a web page that gathers all the data you input, then uses an algorithm to determine the course of action to take, and changing my retirement date to a year away, triggered the sell off. Needless to say, I have moved my 401K funds elsewhere.
I've been enrolled into this automatically when I started working in education. I've talked to someone from the Human Resources department at my place of employment to discuss me having access to the money in case I find myself unemployed, laid off, etc. She told me that within 6 months, I can access it through withdrawals on the website. It can be an emergency withdrawal or another, but in order to do either, I must provide documents that are requested for that given plan.
I am able to submit a withdrawal from my 457 Plan, but not my 401k, and I'm totally fine with that. However, every time I do so, they automatically take some money out for the processing fee. I provide the pay stubs and documents of unemployment benefits. Those are 2 out of the many requirements. It states that you must provide at least 2, and I've done that. 1-3 business days later, I receive an email saying I must provide those, along with the other options. The keyword is OPTIONS. I've fulfilled my 2 required options. So I'm stuck. I've been doing this "dog and pony show" for 2 years now. They automatically take out money for fees, but won't move forward with my requests. This is ridiculous.
I have requested my 401k rollover check THREE times in the last 13 months. I've called 7 times and waited the 4-6 weeks in between each phone call before following up (per their request). FINALLY, TODAY, they said "oh, darn, I see what's happening now, our bad, we'll escalate this to a higher up and get your check mailed to you in 3-5 days." HA. We'll see if it shows up. Who loses here? Not VOYA. ME. THE S&P has grown 10% since these idiots said they would mail me my stupid check and what has my 401K grown? NOTHING. I feel like hiring a lawyer and suing. They have the money. IF YOU HAVE A CHOICE OF PROVIDER, DON'T USE THEM! THEY ARE CROOKS.
Voya Financial Company Information
- Company Name:
- Voya Financial
- Formerly Named:
- ING Direct