About MassMutual Annuities
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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.
After leaving employment I attempted to rollover my balance to my IRA. They quickly informed me that there would be a $200 fee to perform this electronic transfer! WTF? Why? For an account that your employer automatically enrolls you into, that is a ridiculous fee to get your money rolled over! Never use this company! Reading reviews this one sounds very shady.
I have an annuity with MassMutual due to a previous employer ending their pensions and replacing them with annuities. My annuity was supposed to start Nov 1, 2018 and I have not received either the November or December payments. They have stated that they have all my paperwork and are still processing it and will not provide any guarantee of when I will receive my money. Note that I have been very responsive to provide the requested information and I have called many many times.
UNABLE TO GET AN EMAIL ADDRESS: Unable to have funds rolled over as per my direction. Unable to locate plan document. MassMutual brokers unable to provide plan contact. Next step file complaints. Proof the next stock market crash is days away.
When I started the policy monthly direct debit was established. MassMutual never sent yearly statements, which should show any fee saved if the premium is paid in full. I realized that there must be savings if I pay full yearly amount in one go. I called and I was told by their rep that there are NO savings in paying full amount. Year later at the beginning of the policy period I called again, asked same question and told the date and details of the previous conversation. When the managers were listening to that recording they kept transferring me from one rep to another for over an hour. One lady said she will email me, after noticing their blunder. A rep called me thousands miles away from my home at my daughter's house (God knows where they got the phone # from). Their reps always call before replying emails. When I ask for the copy of their calls, they tell me it is MassMutual's property.
I was told it is not possible because first installment is already taken. LOL. I paid up the full amount before even receiving my installment back. Yes, after saying savings will be only for 11 months MassMutual did let me take advantage for 12 months. I want at least 5 years fee refunded, when I could have easily afford to pay full amount.
Have a annuity with MassMutual. Payments were to start three years ago. To date 8/2018 have not received anything. I have called several times, each time I am told five days, ten days or shortly. All lies. Never sent anything. Keep in mind this is my money. DO NOT EVER DO BUSINESS WITH THIS COMPANY!
MassMutual Annuities Company Information
- Company Name:
- MassMutual Annuities
- Year Founded:
- United States
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