Canada Life Assurance Company Reviews (%countItem)
Canada Life Assurance Company Rating
Address: 1901 Scarth St, Regina, Saskatchewan, Canada, S4P 4L4
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Insurance company automatically renewed my life insurance policy, and increased my premiums by over 500%, and continued to automatically withdraw payments from my account, because I failed to actively cancel my policy after 10 years.
Product_Or_Service: life insurance
Account_Number:
Contact by the Business Refund of $4706.40, which represents total of unintentional payments.
We are writing to acknowledge receipt of your renewal complaint regarding ***. Thank you for bringing this matter to our attention.
As a federally regulated financial institution we are required by law to maintain a complaint handling process. Please be advised that this matter will be reviewed appropriately as outlined in our company's complaint handling process. Canada Life will be communicating directly with Mr. regarding this matter moving forward.
For more information on our company's complaint handling process, consumers can be directed to www.canadalife.com/complaints.
(The consumer indicated he/she DID NOT accept the response from the business.)
I attempted twice, in writing formal letters to Canada Life, to express my principal concerns. These concerns included the way my premiums were automatically inflated 500%, the way these unauthorized premiums were automatically debited from my account, and the lack of effort made on the company's part to ensure I understood (and consented to) what an automatic renewal of my policy would imply. The company has absolved itself of any responsibility in the matter, and has stated that the fault for what transpired rests entirely on me. The practice that I fell victim to is known as negative billing. ***. Because Canada Life has failed to take any responsibility in what transpired, despite two opportunities to do so, I have no faith in their complaint process resolving things to my satisfaction.
We are writing to acknowledge receipt of your letter dated December 21, 2017 regarding ***
As we confirmed in our acknowledgement on December 15th, 2017 we are a federally regulated financial institution and are required by law to maintain a complaint handling process. Please be advised that this matter will be reviewed appropriately as outlined in our company's complaint handling process. Canada Life will be communicating directly with Mr. regarding this matter moving forward.
For more information on our company's complaint handling process, consumers can be directed to www.canadalife.com/complaints.