Consumer Complaints and Reviews
I have been told by a sales agent, Ms. Miu **, that these policies are investment vehicles, which would build my asset, and that it was protected. She sold me policy from Pacific Life and WRL. The agent told me that it would yield 15 to 20% return with minimum guarantee of 4 to 5%. I paid out total of about $130,000 for two life insurance policies. I told her that I do not need $2 million life policy. When I called her back within one month of purchase, she told me to keep it for 5 years and then to cash it out so that I could maximize the return. She also told me that I do not need to continue paying the premium and that I could leave it dormant and reactivate at any time. Therefore, in February of 2009, 5th year after I purchased, I contacted her asking her to help me get the cash value out of these two policies. She told me that 5th year had not come yet and to wait until end of this summer.
At the end of this summer, when I contacted her couple of months ago, she told me that I could not get money out. Since then, she has disconnected her cell phone line and she cannot be reached. Ms. Miu ** has misled me and lied to me and sold me a policy, which I do not need. She gained the trust of me by inviting me to lunch, party, and by stating that it was such a great investment that both her and her husband had each purchased the same policy. Ms Miu ** has defrauded me for insurance sales commissions. This is an equivalent of grand theft. I have been defrauded by this agent, Ms. Miu **. I would like to retrieve as much as I can from what I have left of my investment. What do I need to do to achieve this? I need your assistance.
On 5th year, when I tried to cash out money, there were no cash value. (I have no child and have no need for life insurance.) I bought it for investment and for cash value and ability to borrow against it. There is no cash value. I am out about 150,000 dollars.
World Group Securities Company Profile
- Company Name:
- World Group Securities