Consumer Complaints and Reviews
It was very easy to get info on my life insurance policy. They also allow me to pay my yearly premiums with the dividends that accrue - very helpful when on a limited income. Then when my mother died, they processed the life insurance check within 7 days which was very much appreciated.
My mother had a policy with this company for years. She recently passed away and I filed a claim to receive her life insurance. They were very prompt. I was the slow one returning the paperwork but when they received it, they sent a check within two weeks. Great service.
This is advice for all insurance companies. I use to be a VP at Prudential and we were trained to keep your money and steal your money. I recommend you only save money in a local credit union, at home or offshore account. Do not buy any insurance or medical policies. We will find a way not to pay you! If you want to be healthy, then become vegan... Do not waste money on health insurance. These companies only make money when we don't payout. I'm sad because I hurt so many people in the past. One woman had paid 48 years into her policy and we claimed to have lost the policy. I'm ashamed that I worked at Prudential.
I have 2 life insurance policies with Prudential that I have had since the 70's. I received a cold call from my Prudential agent telling me that if I cashed in my policies I could buy paid up insurance that would provide a death benefit that would be greater than the value of the 2 policies that I have now. When I contacted him 2 weeks later and said I wanted to go ahead with the new policy he said the policy had gone up and I would have to pay $1600 extra. That sounded like bait and switch to me but it was still a good deal so I decided to continue with the process.
Shortly after that, I got a letter from Prudential indicating that the policy had been rejected on "procedural" issues. In essence, blaming the agent. The letter stated that they would give me the reasons in writing if I would send a letter requesting the information. I did so. Hearing no response, I called. The man I talked to blamed my agent. I called my agent. He told me Prudential told him that I should call the same number that I had already called. I called again. This time the man I talked to told me that because the letter that I sent requested the "documents" that they used to deny the policy instead of "the specific information" that they used to deny the policy. They couldn't respond because the letter was "vague". In addition, since I am now older they can't write the policy anyway. I don't believe that in all my life I have been treated so poorly by any major corporation. Look elsewhere.
I don’t understand why death benefits I was entitled to were not dispersed to me upon my husband’s death. I submitted a death certificate and page 4, the required form on 11/16/2016 to Prudential VGLI. I did not receive any correspondence from Prudential Insurance after this date. When I called the Prudential phone number, I was informed they had not received the required paperwork. I did not understand why or why Prudential did not call me. They were aware my money was in their acct. By now I should have accrued interest. After two months of waiting my funds are only accessible by check from Prudential Alliance Funds Account. I can only access the funds by checks that they mail to me. I cannot manage the account by internet. What is going on? My husband served his country well. Why am I having this issue?
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I'm am writing this review for my brother. His wife passed away a month ago. He has been fighting with this company every since. The first time he called they denied his claim saying they have no record of a policy. He then sent over all the required information with policy number and payment papers. Then they said it will be looked into. He then talked to them and was told all was in order and that the first person was wrong. Now they contacted him saying it has to be reviewed again and may be another week for a decision. It's now been a month and he still doesn't have it and the funeral home wants paid. So they took the paperwork to fight with Prudential so they can get their money. It's a very small policy, I could not imagine trying to cash in a big policy. He cries everyday dealing with stuff that should not be an issue when you just lost a loved one.
For some unknown reason I am entitled to a minute amount money from Prudential Life Insurance listed under my deceased husband's name through my state. I have contacted Prudential headquarters, sent all requested information, including death certificate, and no one at Prudential can tell me what the money is for. Actually, they have "no record" of my husband. This has gone on for the past 5 years. As far as I know he may have had a life insurance policy. What to do?
Yesterday, 11/9, my husband contacted Prudential in order to amend my father-in law's acct. as he is now in an asst. living center. Very fortunately, he spoke with Todd, a cust. serv. rep. Todd was excellent! He walked us through the necessary steps, gave accurate and detailed information, doing all this with a calm, unrushed demeanor. I wish to recognize him for his terrific service. He should give seminars to cust. serv. reps with other companies on how to service customers!
This is so nuts and the opposite of what every company does these days. You cannot set up an annual automatic payment for your term life insurance. Reasons. Well you can set up a monthly automatic payments which results in a "service fee" of $4-$5 a month which in turn equates to $50 a year extra. What a joke. So to avoid this charge I instead have to wait for my antiquated paper bill every year and send in a check or login online and make a payment. I know this seems easy but it is so frustrating BECAUSE guess what. If you let a long term life insurance policy LAPSE you have to get re-rated at your current age which results in a higher premium (advantage Prudential). It is just such a glaring un-customer friendly way to do business, it really irks me. Congrats MBA sitting in your office somewhere who made his/her numbers with these stupid service fee $s and more lapsed policies. You are an idiot genius.
Prudential provided an initial quote for the policy. After health exam was completed, Prudential said they would now rate the quote. I asked why and to send me the reason. They sent me a clock face test report that was not created by me. Prudential created a false test report to require me to pay a higher premium. Definitely a bait and switch situation. Not a trustworthy company to deal with. There are plenty of honest insurance companies to work with.
On my India visit I had apply for my NRI and NRO account with local Branch manager in my hometown (Nasrullaganj). At the same time branch manager introduced me one ICICI Prudential sales executive and he insisted me to listen one good plan for NRI customers. Somehow sales executive succeeded to persuade me to buy investment plan, since he came with Branch manager whom we trust so I also trust on him what he committed and explained me about the policy. Since my account was not opened with ICICI, they only get my all signature on application form and salesperson took one signed on DD form of 200000 INR which later they cashed from my ICICI NRO account since they also took 1 HDFC Cheque of 200000 INR amount in my name which they later deposit in my NRO account so that DD which is they taken for policy can be issued/cashed.
On 30th July I received an email from email@example.com with attached application form and EBI PDF along with 2 links: one link "Yes, my application details are correct" another link "No, my application details are incorrect." After review my application form and EBI PDF I found that data which is mentioned in the application is not correct and also the charges (Premium Allocation changes, admin charges and other charges) were too high and was not explained by sales executive during the visit. So I had opted for second option "No, my application details are incorrect" which basically option for "In case any details mentioned above or in the enclosed application documents are incorrect please, click on the link below and we will cancel your application and process a refund."
After choosing the second option for cancellation my policy was issued and enforced and now in active mode. When reported this issue to "firstname.lastname@example.org" email they are not asking me cancel the policy by presenting personally to any nearest branch rather Identifying the issue in the system because ideally this policy should not be enforced since I chosen for the NO option. Secondly the customer care is not prompt enough in responding. Their response every email after 24 hours or more. First of all I should not be go through with cancellation process since it policy was issue without my agreement and since I am in Abu Dhabi there is no ICICI branch. If I go through the cancelation process, I have to go Dubai office which 120 km from Abu Dhabi and that to they are not open in weekends.
And in the last I am very disappointed behavior of sales Executive (Mr. Mudit **). Before he sold the policy to me he was very Prompt in response and now since I am cancelling the policy he is not even picking my calls, not answering to my messages. It's really leaving very bad experience with ICICI. Finally I had to go to Dubai to cancel my policy on my expenses, I have done that process within the week time.
It's almost a month I have not received my money back to my ICICI NRO account. When I checked with customer care they said "Cheque has been dispatched" but customer care executive were not able tell me in which address Cheque has been dispatch. I received the email from back office team that amount has been transfer through NEFT on 12th of Aug which is contradiction what has been updated with back office (really Sad). Now I don't know where is my money is traveling and since I am in UAE I don't who will receive my Cheque. Why the money has been send via Cheque? Overall very hopeless and pathetic experience with ICICI Prudential.
My mother carried a $10,000 life insurance policy on my older brother to help family with expenses upon his death. She paid monthly payments for approximately eight years until her death where I was executor of her estate. About four months into handling her affairs, my brother passed away. I contacted Prudential with policy in hand but was told that the policy had lapsed 3 years earlier. When I commented that they had continued to accept payments every month since then, I was first told that they were returned and my mother had been notified in writing about the lapsed policy in 2009. I decided to turn everything over to an attorney. He was given the run around until the 3-year window to file a suit had passed. They did provide a sheet with dates and numbers where they had deposited her payments but supposedly sent payments back to her each month.
All bank records show no evidence of any deposits and knowing my mother as being a very clear-headed business woman who kept meticulous records, l know that she would not be stupid enough to continue to make payments and receive reimbursement for each after supposedly being notified of the lapsed policy. My attorney advised me that they couldn't do anything else without the risk of great expense even though it was obvious Prudential was creating a fraud by accepting the payments long after they supposedly notified her of the lapsed policy. Requests for documentation and copies of the checks that my mother would have received, signed and deposited were not provided.
I can only believe that tens of thousands of people are being conned into making payments on policies that Prudential never intends to pay on. I will never do business with this company and telling my story to as many people as I can and am forwarding my documents to a local news media investigating team so that this will hopefully go public.
My mother had Prudential Life for over thirty years. She switched to a term policy back in 1990. After she lost her job, my mom policy lapsed with a reinstated letter in 2008 of December but she died on the 23 of December of that same year. The check was written for the policy and was never mailed because she had no way getting to the post office. I called Prudential and they said it was lapsed and there is nothing they can do. In January of 2009, only one month later, there was a similar incident that had happened in New York with a Dunkin Donuts owner's wife dying when her policy lapsed and when the media took hold to their story, they paid them.
I been trying to get help for years and my mom funeral expenses came out of my pocket. This was very unfair and the policy was needed to bury her. I didn't have enough for a headstone. When I called her agent to ask "What about the money she paid into the policy?" Again... It was term so there is no money vested. I needed help and Prudential didn't come through.
I contacted Prudential about 4 days ago about how to go about cashing in a policy. My mother took out the policy when I was 6 months old so it is almost 70 years old. First I was told that they would email me the necessary form within 30 minutes. Well, it never came. So, I called back. Now I was told that because the policy was so old they would have to send the form by mail and I was told it would be overnight to my PO Box. Nothing came. So I called back again. I spoke to a csr who assured me that it had been sent. I also spoke to a "supervisor" who said just to be on the safe side she also would overnight me a form. Well neither form has ever arrived and I've gotten mail at this same PO Box address for the last 15 years without a problem. I called back again and asked the csr to check. He assured me that it would be delivered by 5:00PM on Friday, June 1 to my PO Box.
No-show and I checked again on Saturday, June 2, again no form. Now tell me how difficult is it to send out a simple 1 page form. Why can't a customer be told what actually is happening and not have to call back 4+ times for something that is very simple? I was in customer service for over 40 years and this kind of service is unacceptable.
My family and I have been customers of Prudential Life insurance for 50 years plus and in late 2015, I received a payment coupon for interest due on a loan which was taken out on one of my four policies 34 years ago. I called their Customer Service to find out what this was all about and they wanted me to pay over $22,000.00 as the interest had been compounded yearly on the loans. I had no recollection of the loans and asked them to forward all paperwork connected to the alleged loans. I was informed that they had no paperwork to send me. I hired a lawyer to check into this and within several weeks I received paperwork from Prudential, but it had none of the important areas I needed to see who requested the loans. Customer Service advised me these loans could have been made over the phone. In an effort to resolve this matter, I have requested copies of the loan application including signatures to no avail.
We were advised it was better to take a loan out from my husband's whole life policy since we would be borrowing our own money. The loan was for about $8,000 about 20 years ago. We finally decided to cash out the policy and knew the loan plus the interest would be deducted from the cash value, but we just shocked to find out the interest had accrued to twice that of the actual loan to over $16,000! What? I called to ask for a copy of the original loan agreement and I was told that they are not required to keep that on file. AVOID PRUDENTIAL! This is the fifth and final policy we got rid of due to their deceitful business practices.
My son recently passed away at the age of 50years, 11months. I have held a life insurance policy of which I am the sole beneficiary since shortly after his birth. The policy was for the sum of $1000.00. Upon his death I attempted to file a claim. Because there had been an active child support levy placed upon said policy, I was informed that I would need to contact the Dept. Of Revenue to request this levy be removed before I would be able to collect the death benefit. I understand per their customer rep that this is Prudential policy in these situations and does not necessarily reflect how other life insurance companies deal with similar situations. I am extremely disappointed with their response especially after having been a customer for almost 51 years.
Had a LTR plan with Prudential that I paid 100% of the premiums through work. Became disabled and got approved for SSDI, but Prudential denied me stating some of the tests I had done I 'faked' the results. They are criminals, they should be in jail. Don't buy LTR from Prudential. Save your money instead.
In 2004 my brother who was a NJ state employee passed. Prudential never contacted me to say I was the sole beneficiary of a life insurance policy worth over 100,000, instead allowed my sister-in-law to assume my identity and steal the money.
I have had Life Insurance coverage with Prudential since 1977, both as an employee and as an independent person. Prudential is a company that treats its insureds very ethically, looking after the insured's interests. It does that same for its employees. The company puts its employees and its insureds first.
I have had limited interaction with Prudential and I like it that way. Their website is easy to use to get done what you need to get done and otherwise, I do not really need to interact with the company. The options are exactly what I need and the policy suits me. What more is there to say?
This company is helpful in many ways, claims, questions, actions, etc. to make sure we are covered completely for our needs. We receive monthly communications about new options, policies or updates that may be beneficial to my wife and I. We have always been treated fairly and with the utmost respect whenever we have dealings with the company. If we have questions, they are there to provide adequate answers to what we ask and then they offer to help us in any way possible. I would recommend this company not only for their professionalism but the extent they go to take care of my family. In the interest of being fair, I would give this company at least 8 stars out of 10 for their service, products, programs, policies, and professionalism in the treatment of all matters concerning our policy and insurance.
I have this life insurance free through my former employer. I like anything that is free! My employer handles this policy which means there is no work for me or my family. When the time comes that I am deceased, they will receive my life insurance total amount using one call.
Prudential is an innovative company that provides great service and reasonable rates. They are a very approachable company that looks out for their clients. Representatives are easy to work with and provide the necessary information to their clients. They are low pressure and care about those they do business with.
Have not experienced any negative issues with this company. They are easy and clear in understanding what the benefits are and have exceptional customer service. They research to relay current and correct information to its customers in a timely way. They send information through the mail to verify that your policy is understood and you can call and schedule a one on one to go over any questions you may have.
Prudential is an innovative company and guided me through all the steps involved to set up my account 25 years ago. They provided me an in-depth look at the length of time it would take to pay and suggested I select a "whole life" account vs. a "term" account. I can even borrow and the funds.
Very good. If I have questions, always answered. Never told to call back. Very helpful. Rates are good for the policy I have. If I need a cash loan, it is available to me. Good life insurance company. I have this policy about 15 years and increased the death benefit. No health exam needed to do this.
As part of the class action lawsuit, Prudential agreed that we would not have to pay premiums on the newer policies. Unknown to us, they had already been taking the premiums by borrowing on the older policy. That original loan has now accrued so much interest that we owe more than the policy is worth. The only way we found out about the loan was by looking in the premium book that I throw out because I have automatic payments set up on Bill Pay. I have called them several times and no one will get back to me. They never mentioned this loan when the class action suit was settled. I now have to pay them over $7,000.00 in interest which keeps going up. Prudential doesn't care about their customers nor are they concerned about their problems. They are a rude and greedy company.
Agent works with you to determine your life needs and determine how much insurance is needed to take care of survivor in the case you die; makes sure that survivor can get the financial help needed to keep living the lifestyle they want and can take care of the essentials.
When my husband died there were so many details to deal with. We had thought we had everything set up so it would be easy, but there were things we had not thought about (like the truck title in his name only). Fortunately dealing with the life insurance was no hassle. A few phone calls, easy form to fill out, and I had the check in hand.
Neal FrankleLife Insurance Contributing Editor
Neal Frankle is a Certified Financial Planner in Los Angeles. He is the publisher of WealthPilgrim.com, an information resource for consumers. He has been a professional financial advisor since 1991 and is the editor of www.MCMHA.org.
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This is a financial services conglomerate that first started operations in 1875. Prudential is headquartered in Newark, New Jersey and is a Fortune 500 company offering life insurance, annuities and investments to consumers.
- Variety of products: They offer a full range of insurance products.
- Competitive: They are often very competitive among other life insurance providers.
- Highly rated: They are rated highly by many of the rating agencies such as AM Best, Standard & Poor’s, Mood’s Investors Service, and Fitch.
- Options: Customers who deal directly with Prudential will only be offered Prudential products.
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