Interstate Specialty Marketing Inc

Mr. [redacted] C [redacted] purchased a FREEDOMFLEX life insurance and cash accumulation plan in July, 2015.  He signed an application for life insurance, a Service Agreement authorizing premium collection from his bank account and remittance to the insurer, and numerous other related documents.  All...

of these documents clearly and repeatedly reference "life insurance", "insurer", "insured", "beneficiary", and other terms that are specifically related to insurance.  He provided beneficiary and other information.  Mr. [redacted] received a "thank you" letter dated July 20, 2015, which states "Your membership benefits include the purchase of a life insurance and cash accumulation plan......" and "This plan provides you with valuable life insurance benefits and an easy, systematic annuity cash accumulation program".  There is NO reference in any of the forms or any correspondence to Mr. [redacted] that refers to the FREEDOMFLEX plan being an investment.  Mr. [redacted] received his FREEDOMFLEX life insurance policy on August 16, 2015 and signed a delivery receipt, acknowledging acceptance of his policy.  He did NOT exercise the "20 Day Right to Examine" provision of  the policy, during which time he could have cancelled his plan and received a full refund had he chosen to.  We have no record of any complaints or inquiries from Mr. [redacted] since he first purchased his FREEDOMFLEX plan, until we received your correspondence, other than a written request to cancel his plan.  This request is dated February 19, 2016, and it was processed by this office on February 22, 2016.  Mr. [redacted] did not keep his plan long enough to accumulate any annuity value, so there is no refund to be made to him.  Mr. [redacted]'s agent speaks fluent Spanish, and provided those forms that are available in Spanish to him.  This office also has numerous staff members who are bi-lingual and speak Spanish fluently.  Mr. [redacted] did not ever request clarification, additional information, or a Spanish speaking staff member to assist him.  In fact, his cancellation request is written in English.The nature of the FREEDOMFLEX plan was fully disclosed to Mr. [redacted] by his agent and via the various documents he reviewed at the sales presentation, and  subsequently signed.  Further disclosure was made in subsequent correspondence to Mr. [redacted], as well as in the FREEDOFLEX policy that he accepted and signed for in July of last year.  Since that time Mr. [redacted] has enjoyed the protection provided by the insurer in the event of premature death or disability.All referenced documentation is available if you need it.  Please advise.Thank you.

[redacted] applied for an insurance policy on 8/22/14, requesting a 10/1/14 effective date.  She signed the application, approving the terms that she and her agent worked out.  The policy was issued exactly as applied for, no changes were made.  Ms. [redacted] received her policy on...

9/24/14 and signed a delivery receipt, acknowledging acceptance of her plan.  The policy includes a "20 Day Right to Examine" provision, during which time she could have reviewed the plan and turned it down, thereby receiving a full refund.  Ms. [redacted] did not exercise that option, and allowed us to collect premium for her policy every month from August 2014 through May 2016 with no interruption and no indication of a problem.  We have NEVER received any requests for service work, such as a change to coverage amount, etc. related to Ms. [redacted]'s policy.[redacted] is the minor child of Ms. [redacted].  She applied for an insurance policy on 8/22/14, requesting a 10/1/14 effective date.  Ms. [redacted] signed the application on behalf of her daughter, approving the terms that she and her agent worked out.  The policy was issued exactly as applied for, no changes were made.  [redacted] received her policy on 9/24/14 and her mother signed a delivery receipt, acknowledging acceptance of [redacted]'s plan.  The "20 Day Right to Examine" provision of the policy was not exercised, and we continued to collect premium for [redacted]'s coverage from August 2014 through April 2016.On 2/16/16 we received a request signed by Ms. [redacted] to reduce the coverage amount of [redacted]'s policy.  That request was completed and signed by Ms. [redacted] on that same day, 2/16/16.  We processed it on 2/17/16 and a letter was sent to Ms. [redacted] stating that the change had been made on 2/18/16.  The letter included an endorsement to the policy reflecting the change.  The entire process took less than 3 full business days, and Mrs. [redacted] was notified in a timely manner.[redacted]'s monthly premium draft was not reduced, thereby allocating the difference to her cash accumulation account (an annuity rider within the insurance policy).  However, on 4/27/16 we received an application with instructions to direct the cash accumulation portion of [redacted]'s monthly draft to Franklin Templeton.  This application was processed on that same day, 4/27/16.  The insurance company was also notified of the change on the same day.  An email was sent to Ms. [redacted] on 3/30/16, advising her that the change had been processed and providing her with [redacted]'s current annuity value at that time.  She was also advised that annuity statements are generated by the insurance company annually, so a current one would not be available for [redacted]'s account until October 2016.  However, the annuity statement for the period of 10/2/14 through 10/1/15 was provided.  On 3/16/16 we received a request to change [redacted]'s mailing address.  It was processed on the same day, 3/13/16.  To date we have not received a similar request for Ms. [redacted].As you can see by the sequence of events, this office has been very responsive to every request we have received from Ms. [redacted] on behalf of her daughter [redacted].  We have never received any service request of any kind for Mrs. [redacted] herself.  Although we have asked Mrs. [redacted] to send us her requests, we have never been aware of any requests to change her own plan until we received your email of Friday, May 6, 2016, advising us that Ms. [redacted] had filed a complaint.  It appears that if there has been a problem of delay it is between Ms. [redacted] and her agent.  We would be happy to work with Ms. [redacted] in order to satisfy her requests if possible, and to provide her with any additional information she may need.It should be noted that as the administrator for [redacted] Life Insurance Company ("FSL"), it is ISM's job to collect, disburse and remit premiums on behalf of the insured individuals to the insurer, as authorized in writing by each insured client.  Those premiums pay for the insurance protection that FSL provides.  In exchange for providing coverage in the event of premature death or disability and accepting that risk, those premiums are earned by FSL and are therefore not typically available for refund.  Ms. [redacted] and her daughter have enjoyed the benefit of the insurance protection that they purchased from FSL.  Had a claim been made it would have been honored according to the terms of the policy.  We will make efforts directly with Ms. [redacted] to encourage her to maintain these valuable benefits.Based on the true and well documented facts of both cases, this complaint against ISM is without merit.  Full documentation can be provided if requested.  We respectfully ask that you remove this complaint from your system, as ISM's excellent 33 year reputation for service is being damaged with unfounded and untrue allegations.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
Regards,
[redacted]

The premium paid by Mr. [redacted] was authorized by him in order to pay for his life insurance benefits.  Those premiums have been remitted to the insurance company, it is not our money to refund.  In exchange for those premiums Mr. [redacted] was insured.  We will have to contact the insurance company for their determination, as we cannot refund their money.  Further, Mr. [redacted] complains that the forms are in English, but in fact, he signed a SPANISH Service Agreement, authorizing the monthly payments for his insurance.  Many of the forms are in English, but Mr. [redacted] was under no obligation to sign anything that he didn't choose to sign.  Every single document refers to "Insurance", none refer to an investment.  Mr. [redacted] should contact this office directly in order to resolve this matter, rather than file an inappropriate complaint with the Revdex.com.  We are happy to assist him and make an effort to resolve his problem with the Insurance Company, but he will first need to address this matter properly with this office.  Mr. [redacted] can call our toll free number and speak to a bi-lingual customer service staff member M-F 8:00-5:00 Pacific.  800-488-1474.  Extension [redacted] will connect Mr. [redacted] with the Manager of the department, who speaks fluent Spanish.

Dear Ms. [redacted]:This is in response to your letter of October 12, 2016 regarding the referenced consumer concerns with a marketplace transaction, As the underwriting company, our office is responding on behalf of Interstate Specialty Marketing, Inc, (ISM), In our response we are referring to the...

complainant as Consumer; the underwriting company as Insurer and ISM as Administrator,On November 13, 2013, the Consumer completed an application for Group Life Insurance which is clearly stated on the application. Coverage became effective December 1, 2013. The application also describes the Group Life Insurance Plan Rider; Flexible Premium Annuity Benefit. The Delivery Receipt signed by the Consumer outlines the understanding of benefits that are included in“my Life Insurance Policy/Certificate".Besides the contact information provided with the certificate and letters from the Administrator after coverage was effective, the Consumer was provided the address, phone number and email address for either the Administrator or the Insurer for answers to any questions or assistance inmaking changes to the coverage.Because of non-payment of the premium, coverage lapsed effective 05/01/16; however, on May 4, 2016, the Administrator received a letter from the Consumer requesting cancellation of coverage based on "the bad experience I've had these months trying to get a hold of someone to make changes to my plan". After a thorough search of records, there were no phone calls or correspondence from the Consumer to either the Administrator or Insurer prior to the May 4, 2016 letter.A detailed response was provided by the Administrator to the Consumer on May 16, 2016, that included copies of all documentation regarding the November 2013 application. As explained to the Consumer, coverage was provided from December 1, 2013, until the cancellation request on May 4, 2016; therefore had a claim been incurred while the coverage was inforce, payment of benefits would have been made under the terms and conditions of the contract.The May 16, 2016 correspondence from the Adminstrator prompted additional letters from the Consumer and each time our office provided a response to the Consumer's allegations. Because the documentation on file does not substantiate the Consumer's allegations or that there was mismanagement or mishandling of funds, a full refund of premium for the life insurance coverage is not Warranted.The last correspondence from our office on August 23, 2016 informed the Consumer that based on the information the Insurer has available and the lack of any material from the Consumer to substantiate any of the statements or allegations, it has been determined that the allegations are unfounded, and a refund of premiums was not warranted.The Consumer had purchased an annuity rider with the insurance coverage. Due to the Consumer's cancellation of the underlying life insurance, a check was issued to the Consumer representing the monies that had accumulated under the annuity rider. The Consumer, however, returned the check to us, Our office is holding the check until such time we receive notification from the Consumer that she is willing to accept the monies that had accumulated under the annuity rider.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
This is [redacted], and my complain was towards Interstate Specialty Marketing. I would like to withdraw my complain.  Please send me proof that it has been withdrawn.  The company has decided to settle outside.  If you have any further questions call my wife, [redacted], at [redacted] or email me.Thank you,[redacted]  Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
Regards,
[redacted]
I am [redacted]`s wife and I,with his permission, cancel his plan and of course he sign.  The Spanish speaking agent only gave him English written papers and talk alot about investments and said it came with life insurance.  He made it sound as if life insurance was something that came somthing additional.

Review: Mr. [redacted] works for ISM. He talk to [redacted] about investments and said it went along with free life insurance. He said when [redacted] wanted to stop doing investments, he will get a full refund. He had [redacted] take money out of his account automatically, $146 per month since July 2015. [redacted] had to send them a letter in February 19, 2016 stating to stop withdrawing, and next day they still made a withdrawal. [redacted] talk to someone in customer service but he was told they would not refund anything. [redacted] speaks little English and does not read English. [redacted] knew that and took advantage.Desired Settlement: [redacted] would like a full refund of $1,168. Mr. [redacted] lied to him about this investments service. [redacted] fax a letter with his information to stop withdrawing. His wife was told by their secretary [redacted] to fax that, and they still withdraw for the month of February.

Business

Response:

Mr. [redacted] C [redacted] purchased a FREEDOMFLEX life insurance and cash accumulation plan in July, 2015. He signed an application for life insurance, a Service Agreement authorizing premium collection from his bank account and remittance to the insurer, and numerous other related documents. All of these documents clearly and repeatedly reference "life insurance", "insurer", "insured", "beneficiary", and other terms that are specifically related to insurance. He provided beneficiary and other information. Mr. [redacted] received a "thank you" letter dated July 20, 2015, which states "Your membership benefits include the purchase of a life insurance and cash accumulation plan......" and "This plan provides you with valuable life insurance benefits and an easy, systematic annuity cash accumulation program". There is NO reference in any of the forms or any correspondence to Mr. [redacted] that refers to the FREEDOMFLEX plan being an investment. Mr. [redacted] received his FREEDOMFLEX life insurance policy on August 16, 2015 and signed a delivery receipt, acknowledging acceptance of his policy. He did NOT exercise the "20 Day Right to Examine" provision of the policy, during which time he could have cancelled his plan and received a full refund had he chosen to. We have no record of any complaints or inquiries from Mr. [redacted] since he first purchased his FREEDOMFLEX plan, until we received your correspondence, other than a written request to cancel his plan. This request is dated February 19, 2016, and it was processed by this office on February 22, 2016. Mr. [redacted] did not keep his plan long enough to accumulate any annuity value, so there is no refund to be made to him. Mr. [redacted]'s agent speaks fluent Spanish, and provided those forms that are available in Spanish to him. This office also has numerous staff members who are bi-lingual and speak Spanish fluently. Mr. [redacted] did not ever request clarification, additional information, or a Spanish speaking staff member to assist him. In fact, his cancellation request is written in English.The nature of the FREEDOMFLEX plan was fully disclosed to Mr. [redacted] by his agent and via the various documents he reviewed at the sales presentation, and subsequently signed. Further disclosure was made in subsequent correspondence to Mr. [redacted], as well as in the FREEDOFLEX policy that he accepted and signed for in July of last year. Since that time Mr. [redacted] has enjoyed the protection provided by the insurer in the event of premature death or disability.All referenced documentation is available if you need it. Please advise.Thank you.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

Regards,

I am [redacted]`s wife and I,with his permission, cancel his plan and of course he sign. The Spanish speaking agent only gave him English written papers and talk alot about investments and said it came with life insurance. He made it sound as if life insurance was something that came somthing additional.

Business

Response:

The premium paid by Mr. [redacted] was authorized by him in order to pay for his life insurance benefits. Those premiums have been remitted to the insurance company, it is not our money to refund. In exchange for those premiums Mr. [redacted] was insured. We will have to contact the insurance company for their determination, as we cannot refund their money. Further, Mr. [redacted] complains that the forms are in English, but in fact, he signed a SPANISH Service Agreement, authorizing the monthly payments for his insurance. Many of the forms are in English, but Mr. [redacted] was under no obligation to sign anything that he didn't choose to sign. Every single document refers to "Insurance", none refer to an investment. Mr. [redacted] should contact this office directly in order to resolve this matter, rather than file an inappropriate complaint with the Revdex.com. We are happy to assist him and make an effort to resolve his problem with the Insurance Company, but he will first need to address this matter properly with this office. Mr. [redacted] can call our toll free number and speak to a bi-lingual customer service staff member M-F 8:00-5:00 Pacific. 800-488-1474. Extension [redacted] will connect Mr. [redacted] with the Manager of the department, who speaks fluent Spanish.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.

This is [redacted], and my complain was towards Interstate Specialty Marketing. I would like to withdraw my complain. Please send me proof that it has been withdrawn. The company has decided to settle outside. If you have any further questions call my wife, [redacted], at [redacted] or email me.Thank you,[redacted] Regards,