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I requested a Hardship Request for an unforeseen medical emergency that was not covered and cost over 2500 out of pocket. I sent all pertinent information as requested. They would wait 5 days and then email me to tell me the documents were no longer valid after 5 days. Went back and forth with them for a month, even got a letter from the Dentist himself and they waited... per usual and emailed and said it was not valid, even though on letterhead and dated in the body of the letter but it was not accepted because he didn't put a date at the top of the letter. I was in real financial duress by the next month and the dentist office had stopped returning my calls because they had exhausted all sources of verification that could be sent on my behalf. At that point I was out of 800.00 down for the dentist and behind on my rent.
An eviction notice did ensue so I resubmitted my paperwork for a hardship to avoid eviction. I called and asked what was needed. Was told the eviction notice, dated and from the property manager would suffice. I ended up with a 3 Day notice to vacate. They of course waited 5 days later and then told me it was expired. Had I not done personal and payday loans I would be homeless. I managed to scrape by that month but was still in financial woe and in further debt. I called and asked why the eviction paperwork was not enough as stated on their guidelines and was told I needed a letter stating if I had a due date for the due date I will get an eviction notice in advance, so I sent them the lease.
They came up with every excuse under where the devil sunbathes and still are denying it two months and another eviction notice later. For all of the documentation I have send and am near homeless still. These people refuse to grant me 1,000 to get back on track. Never have I ever experienced anything like this. I have called in tears pleading with them and praying over this but they keep coming up with unwritten "new" guidelines.
The company I used to work for used MassMutual for their retirement plans. After I left the company I decided to cash out my plan, I was partially vested in my employer contributions. Somehow when I took my disbursement my vesting became zero percent for that portion of my account. After getting the run around several times by several different people at MassMutual it had now been about a month and I'm still short about $5000 from my account with no explanation from anyone.
MassMutual is apparently the custodial company of my former employers 401k benefit. I received a letter from MassMutual a year after I had left said company regarding my 401k plan. The letter stated I had a small amount in a 401k that I needed to either cash out or transfer over to a traditional IRA account. I called to make sure I knew what all was needed then obtained the check payable instructions from my financial advisor. I mailed in all the necessary paperwork and assumed MassMutual also did their part in having the funds transferred.
Several months later I received another letter stating they still had my funds and it had never been transferred. I called and spoke with a Supervisor who informed me that the paperwork had Indeed been sitting there and that I was supposed to also go into my former employers office to gain their signature of release. I had never been informed of this additional step or I would have completed it months ago. She also (rudely) informed me that she would now be charging me a $200.00 fee in order to handle my account! Which of course is ridiculous because it negates the entire account itself. MassMutual was unethical in not giving me the correct information and allowing my money to be squandered. There should be laws in place to prevent shady companies such as this from stealing people’s money. Shame on them.
They misspelled my name, put in the wrong address several times, had wrong info given by several customer service reps, website was glitchy and wouldn't let me login or link account. Had to speak with a supervisor to get what should have been minor issues resolved. Very disorganized and poorly run company.
I have paid $40 for an expedited service to remove my funds from this company, as they are ill-managed. I have been waiting now over 5 days, and still do not have my funds. I call, and customer service has no idea. They also tell me I don't have the expedited service. I cancelled my first request after learning it would take over 10 days to process. I was advised to resubmit it with the expedited service so the funds would go direct deposit. I did exactly that, and am 100% certain I selected the expedited service. That was the entire reason for me cancelling and resubmitting the request. I see my account has been charged the fee, but the customer service rep says I didn't apply for that. It does seem like they are trying to weasel an extra $40 out of me without providing the service.
Now, after reading other people's reviews, I see there is a common mistrust of this company, and a feeling they are stealing funds. What a terrible feeling to have about a company one has literally entrusted their life savings to. I can't run away fast enough. I am still waiting for them to return all my money I am attempting to withdraw. I was told it was sent to the bank 2 days ago. My bank says no deposits have been sent. I have dealt with other retirement services in the past and never had this kind of experience or poor service. I am shocked this company is still in business.
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I have called MassMutual lots of time regarding my annuity, (which I did not even know that I had) until I started getting a small check each month. Upon calling them, I asked to surrender it or cash it in. They absolutely refused to discuss that and said that I could not do that. Now, after 10 years, I have read up on annuities and know that I am allowed to surrender it or move it to another kind of annuity. The customer service there would not give me any information. I am 72 yrs old trying to survive on ss benefits and could use it! After all, it is my money! Not theirs!!! I did not know about having this annuity in the first place, and no one ever explained to me, anything about it. I feel cheated!!!
Called and spoke with different people who answered phones-none could do more than look at policy number and state "it is in process" even though I had a time sensitive issue. They would not say more than "you will have to wait your turn". No response to emails and even though I indicated on form the I would like text updates as to status, I never received one. Would not recommend this company at all.
My father died in August of 2015 and it took a year to get a check from MassMutual. At this time we changed the beneficiaries of my mother's policy. My mother died in December of 2018. The agent told us the paperwork was processed on February 28 and the checks would be mailed after 10 days. It's been 22 days and still no checks.
This past Feb 25th my case was referred to the tax and legal departments. I was promised they would get back to me promptly. Yesterday I contacted them, talked with tax department, and nothing had been done. Meantime my tax filing situation awaits their poor and uncaring action. They filed the wrong Tax Form and still have not corrected it. I have been their customer for over 20 yrs but they still don’t care. I even sent a message to their Chairman Roger Crandall, still nothing. HELP.
Opened an annuity and indicated date of monthly direct deposit. There is a delay from the time they release the payment to the date the bank posts the transaction to my checking account. The "certified financial planner" that sold me the policy should have warned me about that but he did not so I could make adjustments to the date accordingly. I wanted to change the date of the direct deposit to compensate for the lag time in posting to my account. MassMutual said no. Nowhere on any of the applications or forms I completed did it say the date could not be changed. This is the new face of doing business in the U.S. where once they have your money they make the rules. Buyer beware of unethical practices.
MassMutual Annuities expert review by Jim Blankenship
MassMutual has been in business for over 160 years and is a mutual company. Members and policy owners have voting rights, and participating policy owners may share in dividends.
Goal-based planning: Mass Mutual offers a goal-based approach to financial planning with annuities. Goals include protecting finances from the unexpected, planning for long-term care, and managing income in retirement.
Most ethical company: In 2014, MassMutual was named the World's Most Ethical Company by the Ethisphere Institute.
Network of advisors: MassMutual maintains a nationwide network of financial professionals who are continually trained, especially in a needs-based financial assessment technique.
Enhanced customer portal: Through the MassMutual customer account site, customers can view account details, make fund allocation changes, and request forms.
Service Center: Annuity holders can contact the Annuity Service Center via toll-free number, email, or by requesting a call-back.
Best for: Savers, savers plus income generators, retirees and Social Security recipients.
MassMutual Annuities Company Information
- Company Name:
- MassMutual Annuities
- Year Founded:
- United States
- (800) 272-2216