CBMC Unlimited Sales

Dear Revdex.com of Wisconsin: On Jan5, the home office of Northwestern Mutual in Milwaukee responded to Ms*** by letterIn it, we note after reviewing the material she provided that we are unable to conclude that the signatures present on her policy contract documents were forgedIn addition, we are unable to conclude it would be “impossible” to sign the documents because she is left-handed In addition, while Ms*** may have been preparing for a presentation the day following the delivery of her policy contract, it does not prove that she was not provided with the contractNor that she would be unable to meet one of our financial representatives on March 27, We provide in our letter a summary of our previous responses to Ms***’s allegations via letters on Nov4, 2014; July 22, 2015; Nov9, 2015; and Dec9, Copies of these letters were enclosed to her in full once again. Briefly: Our records show that on Oct1, 2014, Ms*** spoke to one of our directors of network office supervisionDuring the conversation, Ms*** questioned the suitability of a policy and stated that our financial representative misrepresented the policy as a fund or accountMs*** did not mention she was enrolled in a life insurance policy without permissionInstead, that allegation was not made until her request for a refund of premiums paid was denied in November Following approval of the policy, Ms*** was provided with a letter that the policy was issuedNorthwestern Mutual does not have record of her calling following receipt of this letter to inform us a policy was issued without permissionFollowing approval of the policy, our records show Ms*** made premium payments from March until October While she has started the policy was issued without permission, she did not contact the company for months during which premiums were being paidThis allegation was not made until a request for refund of premiums was denied in November Approximately year after the approval of the policy, Ms*** was provided an Annual Policy Statement dated February This alerted her that a life insurance policy was in forceUpon receiving this statement, Ms*** did not contact Northwestern Mutual to inform us a policy was accepted without approvalRather, she waited until a request for refund of premiums was denied in November Finally, our financial representative has adamantly denied Ms***’s allegation that he forged her signature, and has stated he witnessed her sign each documentFor these reasons, we are unable to honor Ms***’s request for settlementIn our letter, we provide contact information to reach one of our home office representatives directly with any further questions or concerns Sincerely, Steve *** Northwestern Mutual Liaison to the Revdex.com

Dear Revdex.com of Wisconsin: On Jan13, our home office in Milwaukee replied to Ms*** by letter. Our financial representative began working with Ms*** in and she opened a brokerage account with ***western Mutual Investment ServicesShe also discussed opening an
IRA, and our representative indicates he discussed with Ms*** how an IRA works including contribution limits and required minimum distributionsMs*** chose to open an IRA funded by a variable annuity contractAt the time of application, the monthly electronic funds transfer established from Ms***’s bank account was $400, which placed her under the annual contribution limit at that time of $5,The variable annuity contract was not established with a $monthly paymentIn addition, our representative provided the IRA, Roth IRA, or SEP Disclosure Statements, which Ms*** acknowledged receiving when she signed the annuity applicationOur Janletter includes a copy of these statements highlighting the contribution limitsThis document, along with others signed and recived, clearly state neither ***western Mutual nor its financial representtives can give legal or tax adviceWe also detail in the letter Ms***’s month payment increases and annual contributionsEach time a payment was made, Ms*** was sent a Variable Annuity Confirmation Statement containing the tax amount and tax yearWhile we note it is unfortunate Ms*** exceeded the annual contribution limits, our representatives are not tax advisers and cannot give legal or tax adviceTherefore, we are unable to reimburse the $requestedSincerely, *** *** ***western Mutual Liaison to the Revdex.com

Dear Revdex.com, Thank you for the opportunity to respond to Mr***’s recent complaint. At his request we delved further into his client records to determine whether he is correct that we had failed to disclose contractual fees and whether the fees charged were excessiveOur records show numerous verbal and written communications between Mr*** and our company from March until May when he withdrew his fundsDuring a face-to-face meeting with his financial representative on 3/25/14, fees and withdrawal charges associated with annuity contracts were reviewedAn email exchange on 4/15/and records from a phone call the same day also reveal that we provided information on fees and withdrawal chargesIn addition, from to 2016, Mr*** received quarterly statements with summaries on withdrawal charges that might apply to his accountWe received forms of intent from Mrand Mrs*** to surrender their annuities in April They met with their Northwestern Mutual advisor on 5/6/so that the advisor could again explain how withdrawal charges workedMr*** said he preferred to consolidate his funds with an advisor who had worked with his fatherMr*** claims our withdrawal fees are excessiveWe provided for him a list of the eight leading companies in the annuity industry and the withdrawal fees they chargeOurs are tied for lowestBased on our review, we find Mr***’s request to refund his withdrawal fees and treat him differently from other clients covered by the same contract to be inappropriateRegards, *** ***

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***Once the check is received, I will consider this complaint resolved
Regards,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 10205215, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
I suppose Northwestern Mutual and I will just have to agree to disagree, but I would like to make a few more commentsI did not specifically request insurance with retirement benefits, I specifically requested the cheapest insuranceWhile *** recommends Northwestern Mutual's internship program, reviews on *** *** *** *** *** *** seem to suggest the internship program is mediocre at best if not a complete scam
Regards,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
[To assist us in bringing this matter to a close, we would like to know your view on the matter.]Maybe I didn't exactly make myself clear in the first time I was quite frustrated and may not have articulated myself properly My complaint is in regards to predatory business tactics I met with *** in regards to investing He specifically told me that I shouldn't do a retirement account or an investment account through northwestern He portrayed the whole life insurance policy as a verbatim investment account / strategy There was hardly any conversation around life benefits Literally spoken of as a perk to the benefits of this purely as an investment He literally said that it's basically a Roth IRA, but better because I can withdraw money before retirement with zero penalty, while having all of the same perks.I told him I was looking to buy a home in the next few years He then told me to expect and plan for a 3-year break even on my investment, which affirmed that this was a perfect investment for me given my personal timeline It sounded like a good idea because that was my timeline to buy a home and he touted it as the perfect mid life investment so that I can invest, break even in a very short term and then withdraw the full invested (or more) amount in the near term to help with a down payment, and then start investing back into it without skipping a beat He acted and advised as if he was giving me fiduciary insight Now I find out that I was purposefully manipulated into taking the policy that paid him the highest commission, to my detriment as a client He was super communicative until I signed a document and then became much much harder to get a hold of The only time he'd reach out to me was to try and get me to increase my amount I had it on the back burner for a while and recently reached out to him asking about the "break even" as my plans to buy a home were now a year or two away Then he changed his rhetoric and said it would be or years, nearly double what he told me to get me to sign up for the policy He then told me that if I wanted to break even sooner, I'd need to pay more in monthly Roughly double what I was currently paying At that point, my trusting mind got suspicious That's when I began to learn the extent of the manipulative and predatory practices that *** had embarked on This is just unacceptable behavior for a business to practice in, and it needs to be rectified Honestly, *** deserves to lose his job for this kind of behavior At the VERY LEAST the full amount I paid into should be returned to me as the entire account was set up on pretenses.
Regards,
*** ***

Dear Revdex.com, Thank you for the opportunity to respond to Mr***’s complaintMr*** has filed complaints with our company in 2009, and He has expressed dissatisfaction with increases in his life insurance premium and states that we have not listened to his
opinionOur and letters and conversations with Mr*** have focused on the materials provided to him when his policy was issuedOur representatives have reviewed with him the illustrations he was provided, which included information stating that his premium may increase due to changes in the non-guaranteed dividend interest rateAfter reviews in and 2015, we can find no evidence that Mr*** is due a refundMr*** says our company never sought his perspective on this situation, but our records show multiple phone conversations, voicemails and exchange of email with Mr***The most recent conversation took place in January where he was assigned a new servicing representative in his communityAfter several conversations with his new servicing representative, Mr*** decided to terminate his contracts effective February 18, We greatly value our commitment to the people who place their trust in usWe hope this information helps you understand the steps we take to ensure that we continue to deliver on our promises to our policyownersRegards, *** *** Tell us why here

Dear Revdex.com,Thank you for the opportunity to respond to the complaint from Mr***We appreciate being allowed to address his concerns.Mr*** alleges predatory sales practices, says purchasing life insurance did not meet his financial objectives and asks for a return of full premium paid.In a series of letters to Mr*** we have explained that the additional information he provides does not warrant a reversal of our decision not to refund his premium.Documents that he signed when he purchased his life insurance policy indicate he understood what he was buyingContemporaneous notes from his financial representative state that he indicated he would purchase mutual funds from a separate company to address his investment needs.We understand Mr*** is unhappy with his purchase of life insurance, but we stand behind our decision.Regards,*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
[To assist us in bringing this matter to a close, we would like to know your view on the matter.]
Regards,
*** ***

Dear Revdex.com of Wisconsin: The home office in Milwaukee has been in contact with Mr. [redacted] and he is aware that we are working providing premium refunds on his policies dating to April. A surrender form was signed canceling these policies in April, but could not be located in the...

office of the financial representative. We're working to complete this refund as soon as possible based on this complaint and will provide a final response when that work is completed. [redacted]

Dear Revdex.com of Wisconsin: On March 17, our home office in Milwaukee mailed a letter to Mr. [redacted] in response to his complaint to the Revdex.com. In our letter, we share that we have tried reaching Mr. [redacted] using the telephone number and email address he provided,...

but have not received his response to our questions needed to process his 1035 exchange. We understand his frustration with the process, but we must follow federal and state regulations to file necessary paperwork. We will be able to comply with his Power of Attorney granted to his wife when a copy of that document reaches our office. We included in his letter a new 1035 exchange form and provided multiple options for returning the paperwork to us in the manner most convenient for him. He has been provided the name and direct phone number of a person at our company who has been assigned to assist with his needs. We hope this resolves Mr. [redacted]’s situation.Regards,[redacted]

Dear Revdex.com of Wisconsin: This morning, we spoke to Mr. [redacted] by phone and are following up with him by letter today. In our letter, we apologize for the error and inconvenience we caused him when funds belonging to another policyowner were erroneously deposited into...

Mr. [redacted]’s checking account. This was the result of a processing error. We will be reimbursing Mr. [redacted] for any bank fees he incurred as a result of our error. We will also be in touch with his banker to confirm when the funds were returned from the bank, and will provide his banker a letter of apology as well as a thank you to per Mr. [redacted]'s request. We’ve also provided contact information for Mr. [redacted] to reach one of our policyowner services specialists directly. Thank you for bringing this to our attention, and our apology again to Mr. [redacted]. [redacted]  [redacted]

Dear Revdex.com, Thank you for allowing us the opportunity to respond to the message from [redacted]. After review we have cancelled the policy and premiums paid were refunded. We apologize for the miscommunication concerning the cancellation refund process. Regards, [redacted]...

[redacted]

March 3, 2015
 
 
[redacted]  [redacted]
XXX
XXX
 
 
RE:      [redacted]  [redacted]   Policies 
XXX
                                        ...⇄       
 
Dear Mr. [redacted]:
 
Please
accept my apology for the auto-withdraw that was taken from your account after
you requested to cancel your policies listed above.
 
After
careful review of this matter, I am pleased to inform you that we have honored
your request for the full reimbursement of the January 26, 2015 payment that
was taken.  The balance of $14.88 is
being sent to you under separate cover. 
 
Mr.
[redacted], I apologize for the inconvenience this has caused you and trust this
matter has been resolved to your satisfaction.
 
 
Sincerely,
 
[redacted]
 
 
[redacted]

Dear Revdex.com,Thank you for the opportunity to respond to this complaint. We strive to provide excellent customer service to each of our clients. The confusing situation that resulted when bank account numbers were transposed has been resolved and Mr. [redacted] has received his refund...

check. We hope that this response resolves this situation to your satisfaction.Regards,Betsy [redacted]

Dear Revdex.com of Wisconsin: A letter is being sent to Mr. [redacted] dated Aug. 6 in response to his rejection of our last communication. We understand he continues to be dissatisfied with our explanation about why we do not refund premium payments. After another review, our position remains the same. In addition to all the reasons stated previously, we share the following in our letter: Mr. [redacted]'s contract was issued with a Right to Return Policy. He had 10 days upon receipt of the policy to return it for any reason and would have received a refund of any premiums that had been paid. Mr. [redacted]'s contract was issued with cash values that were guaranteed. Including premiums he paid to the end of the second policy year, the value was $697. Finally, the contract clearly states that any proceeds he would receive at the time of surrendering the policy would be the Cash Surrender Value at the date of surrender. This totaled $697 as indicated. Again, unless we are provided with additional information that we do not know, we consider this matter closed. We've provided Mr. [redacted] with the personal contact information of an individual in our Policyowner Services department for any additional contact directly with Northwestern Mutual. Sincerely, Steve S[redacted]Northwestern Mutual Liaison to the Revdex.com

Dear Revdex.com of Wisconsin: On Sept. 30, the home office in Milwaukee mailed a letter to Mr. [redacted] in response to this complaint. In our letter, we apologize for the misunderstanding regarding the need to return the dividend checks when...

the noted policies were terminated. We inform Mr. [redacted] in the letter that his policies and Insurance Service Account have been reinstated and are paid to Sept. 15. We also note that the ISA has closed on numerous occasions since 2013 and to avoid future terminations, Mr. [redacted] may wish to consider paying monthly premiums through automatic electronic funds transfer through his bank account. This would also save $12 per year because there is a $1 monthly service fee charged for direct bill accounts. We’ve provided an EFT authorization and instructions. We now consider this complaint to be closed. Please let me know if there are any further questions or concerns. [redacted]

Dear Revdex.com of Wisconsin: On Sept. 12, a representative of the home office in Milwaukee called Ms. [redacted] in order to get a better understanding of her concerns. During the conversation, Ms. [redacted] explained that her reference to “undue influence” was about her...

concern with how individuals in our college internship program go about their business by contacting friends and family. We explained to Ms. [redacted] that our college interns are licensed individuals trained in our products and services. Ms. [redacted] also alleged in her complaint that the insurance plan she purchased was misrepresented. According to Ms. [redacted], she asked for the least expensive product she could purchase and has seen the prices of other insurers’ policies, which are less expensive than her policy. She also indicated these other policies were term life insurance. Our representative explained that Ms. [redacted] had purchased permanent life insurance rather than term insurance. PLI builds cash value over time and is often used for retirement planning. Because of the accumulation feature, PLI is generally more expensive than term insurance. Ms. [redacted] confirmed she understood that PLI is for retirement planning. Ms. [redacted] continued to pay premiums for two years but indicated she no longer wishes to do so and that she had asked for her policy to be canceled. This had been done Sept. 11 and Ms. [redacted] is receiving a check for all proceeds of surrendering her policy. We now consider this complaint to be closed. Please let me know if there are any further questions or concerns. [redacted]

Dear Revdex.com of Wisconsin: On Nov. 21, the home office in Milwaukee mailed a letter to Ms. [redacted] in response to her complaint. This is addition to a telephone conversation Nov. 10. In the letter, we explain that, due to processing...

that has to take place, a refund cannot be started until the second business day after that action, which was Nov. 3. Ms. [redacted]’s regular payments, which assumed her policies would have been approved, were scheduled for the first of the each month. In November, this was a Saturday, a non-banking day. The automatic payment was therefore initiated on Oct. 31 and the payment was recorded Nov. 3. While refund processing began Nov. 3, a 3-business-day hold was placed given the automatic payment and a refund began Nov. 7. A bank normally acknowledges the returned funds and posts them to accounts in two business days, which would have been Nov. 11. Because that was Veterans Day and banks were closed, the funds posted Nov. 12. We have apologized to Ms. [redacted] for any inconvenience in the refund delay as well as erroneous information she received earlier, due in part to information from the bank. We now consider this complaint to be closed. Please let me know if there are any further questions or concerns. [redacted] ** [redacted]

Dear Revdex.com,Thank you for the opportunity to respond to Mr. [redacted] complaint. We apologize for being late to meet your response deadline, but we needed extra time to check out information.Our records show that a financial representative met with Mr. [redacted] on November 20, 2014...

and they had an in-depth discussion around his financial needs and goals. The financial representative developed a plan for Mr. [redacted] and presented it to him on December 2, 2014.  He stated at this meeting that he was interested in locking in his insurability, and also welcomed the cash value growth of the policy. He applied for the policy that day.Mr. [redacted] acknowledged receipt of the policy contract on January 15, 2015 by signing the Policy Delivery Acknowledgment form.  The policy contract outlined the terms and conditions of coverage and provided him with a “Right to Return” provision giving him the opportunity to review the contract and return it within a certain time period for a full refund of premium.  Instead of returning the contract, he accepted it and Northwestern Mutual accepted its contractual obligation to pay the death benefit had a claim been made.Based on the evidence, we have concluded Mr. [redacted] was provided information necessary to make an informed purchasing decision. Regards,[redacted]