Venerable Insurance and Annuity Company

We began with a terrible "financial advisor" who, fortunately for us, invested some of our money in an annuity with ING. Which was devoured by VOYA, which, in turn, was devoured by Venerable, which has been making appropriate, monthly $$ deposits into our credit union account. Thank you for protecting our funds!
Mary & Tod Young

it so difficult to contact this company. they send updates only once a year and customer service is very difficult to reach. I want to pull my money out but there's a hefty fine for withdrawing my own money. something like $15K. its not like they give you good ROIs

Failure to process monthly annuity payment.
Monthly annuity payment supposed to be processed on the 24th of every month. As of 04/03/2020 direct deposit not received. Venerable says it is because I increased amount even though change was made in October. They say I needed to approve the change which had been done but they failed to notify me that March payment was not processed. As a result I have been hit with nearly $100 in overdraft fees. Never had a problem with Voya prior to merger.

Zero follow up from customer service. I had multiple phone calls that ended with various Voya reps promising to call me back within a specified time-frame. Not once did they follow through. OVER FOUR MONTHS. It took over four months to get resolution on an issue, and (big surprise) they never called me about it. I get correspondence (bills) from them with a 'World's Most Ethical Companies' logos on the letterhead, at which I just shake my head.

I did not receive a quarterly annuity payment and have been getting the run around over the phone from VOYA representatives.
I have been receiving quarterly payments of $2,500 from VOYA (ING) since Sept. 2013. The process was Voya would Cut a check at the end of the 2nd, month, then mail the check for receipt just after the first day of the 3rd. month. After not receiving a check for the June quarter, I called VOYA on June 11th. Customer service representative after investigation said there was an internal processing error and that their 'team' would have resolution in 2-3 days. Not hearing anything, I called VOYA on June 17 and was told at that time the check was being processed. Still not hearing anything I called again on June 20th. I asked the rep. to elevate to a supervisor which the did. I explained the situation and pleaded for resolution because I was expecting that check and living on a fixed income. The supervisor put me on hold for a long time to figure out the situation. He told me that a check for $2,500 would be cut and mailed to me overnight. After not receiving a check, I called VOYA today, 6/25. The rep. told me that my check was being processed and that it would be mailed in 7 to 10 days and that I had reached the end of my funds in the account and would be receiving $800. She also stated that they overnight the check. I told her that I didn't believe the overnight part after what I was told previously. Also I expressed my total dissatisfaction with the whole process for not communicating with me the delay, end of contract situation and the final dollar amount. The last 2 correspondences were a change of contract number notice dated May 5, 2019 and the quarterly check received Feb. 5,2019.

Voya refuses to honor their own contract by refusing to send me 10% of the annuity amount every year.
On 6/14/2014 a lying conman representing Voya as a independent agent lied to me about the benefits of a Voya annuity. ( this is how Voya claims to be "the most ethical company"....they have independent agents do their "dirty work". I showed Voya all the dishonest documents from the lying independent agent Don Young, but they would not return our money.)

My only recourse then was to take out 10% every year as stipulated in the annuity contract. NOW Voya is preventing my husband and I from removing 10% every year. I have proof that we withdrew 10% in 2016, 10% in 207, and then in 2018, we requested 10% withdrawal but Voya ONLY sent me 5%. When I complained, Voya sent me the "other 5%". NOW Voya is claiming that the "other 5%" is considered the withdrawal for 2019, and we will be sent ZERO.

This Company did NOT tell me that: the Premium which I was given 25+ years ago(and had been accepted month after month for 5 years)- would NOT be enough to keep my Policy going! There is supposed to be a current Illustration on-going, when requested, but they said that the computer could not do those figures?! ALSO- they sent some papers that did NOT show the Beneficiary change from 7 years ago! They made me catch up on some money, because this Policy is actually NOT for the regular consumer, but a thing that rich investors trade for other Insurance policies- based on interest rates, and stock futures! THEN they said that- I had a Premium change from 100.50/ 3 months, to: $780.00 per three months- AFTER I paid them $280 for the previous month! AFTER I told them that I was going to the State Insurance Board, they have NOT called or given me ANY information on the amount of money which I need for this Insurance Policy top remain in force. My previous agent said that: I would have to contact them at age 75, at which time my premium would change to $75. per month, so there would have to be a different system0- I did NOT know this would happen! I paid $1264.00, then they wanted to move up my premium to December, for the next three months worth of Premium, even though I had just paid three months' worth in November, and they wanted MORE in February, and three times that much in March! PLUS- they were gong to STILL accept $100.50/3 mos. which they had just told me was NOT enough ANYMORE! They allowed m,e to use UP my cash value- and I NEVER KNEW that this was a cash Value Policy! I told them that I would pay what I wanted to, since THEY were going to arbitrarily CHARGE any amount which struck their fancy- because THIS policy apparently allowed that?

In error the organization sent my money to the incorrect account and has refused to fix the issue evennthouhht eveidence of their error was provided.
On 10/15 I requested and was approved for 2 withdrawals from my 401k with Voya Financial. At the time I requested the withdrawals I provided the institution my new banking info which ends in 5908, the system generated a pop which advised the change would result in a 7 day wait, I hit okay and proceeded with the transaction. Approximately a week later I have yet to receive the funds and contacted Voya and was informed that the new banking info was just verified and that I should have the funds in a few days. Days went by and I did not receive the funds which resulted in additional calls being made to Voya, I was then advised they put the money in the wrong account (XXXX) which was previously closed by the bank. I then called the bank to find out that the money was applied to a closed account I had a balance on. The issue with this is that the information was changed, Voya's system even acknowledged the change and told me it would result in a delay due to the verification process. Plus both statements of distribution identify the account the money should of been sent to (XXXX). I've worked with the bank and voya for several weeks now and I'm being told there is nothing that can be done. Again, my statements show different account information and according to NACHA regulations ACH transactions can be reversed if deposited into the wrong account. I have spoken to my family attorney and was advised that because the statements of distribution shows different account info then where the money was actually deposited I have a valid case that can be pursued legally in addition to the unnecessary stress and anxiety caused by Voya's error as the money was for a medical hardship. This is not the route I want to take but if they are unable to provide me resolution I will be left with no choice. Voya deposited the money into the wrong account and won't fix their mistake. The distribution statements show the correct account, yet the money was sent to another account and they refuse to fix the error. That money was for a financial hardship and the lack of funds have caused me emotional stress as I was dependent on those funds. As mentioned my statements of distribution show that the money was deposited into account ending in 5908 yet they deposited into an account ending in 3101. They need to fix their mistake and provide the funds to me via check, if I am unable to resolve this directly I will hand the matter over to my attorney.

Voya customer service is unresponsive and error prone.
With the death of my husband, I am the beneficiary and have been waiting for Voya to pay out the beneficiary claim as stated on the policy. Voya will not confirm receipt of faxed information. Sent an empty envelope inside another empty envelope. Sent an envelope with a form letter with instructions to fill out and return the enclosures; there were no enclosures. Promised that a local agent would contact us in 3-5 business days TWICE and still have not received a call after four weeks. Stated that payout would be in 7-10 days. It is now 15 days since the last contact and I have received nothing. It just seems like they are evasive and will say anything to get you off the phone.

I just a statement from voya financial detailing an account that I had requested closed in 2012. Apparently there was still money in the account. When I called to understand what happened and why this account was still opened, I was told there was a loan on the account and that it was in default in 2010 and I had never paid after four letters. First, I never received any loans. I closed the account and withdrew what I had saved. I also paid the appropriate tax penalty. Second, I never received any letters. It is only by chance that I opened this one, 6 years later, the first I had received. Of course the customer service agent couldn't answer any of my questions and just kept repeating what was obviously on his script. This is not only illegal but very scary. Do not use this company!

I spoke with 5 customer services to address my issues. Most of them either have no knowledge on how to correct the issue or have no desire to put effort to resolve the issue.

My company switch plan with them. Before the switch, my 401K loan was withdrew from my checking account once a month. After the switch loan payment withdrew from my paycheck and checking. As a result, after a switch I paid 1.5 time loan payment than before switch.

I called, the first 3 customer service said they can see loan payment from my paycheck, but not the one withdrew from my checking. They advised me to wait and call again. I asked them, I have been waiting for more than 1 month, is that anything they can do. They said no. I told them to put note on my record, so another customer reps know that I have been working with this issue for a while. He said all phone calls are recorded. How stupid that can be? Who will listen all the recorded conversations to understand my problem.

The 4th one is the best. She opened a case for investigation. Why the previous ones did not start investigation?

I called again to inform Voya that my bank confirmed that the withdrawals from checking completed successfully and the bank provided 2 pages of document to help Voya with their investigation. He said, we don't need that. We can investigate from our end. I insisted to provide this doc. He said read it to me. I said to him, in addition to tracking#, there are whole bunch of information that might be useful. He said read it to me. How stupid is this? First of all, it is too long, secondly, this approach prudent for errors. I asked him if I can email the doc. He said, we are not allowed to provide our email. I did not ask for his email. I asked for customer service email. I have never heard that a company this size has no customer service email. He insisted that reading or ignoring the bank docs is the best solution. Finally, I asked him do you have fax#. He did have fax#. I've just fax the bank doc. I have not followed up on this.

Prior this experience, I had issue with downloading transactions into my Quicken. I made several calls, finally figured out the solution myself.

In summary, I feel that the customer service was not equipped with appropriate training to handle issues. Also some of the response that I got utterly unreasonable.

I opened a life insurance coverage with ING Direct around 2013 for $150k. Ive been paying on it ever since. Their system shows no record of my acct.
As of Dec 18 2017 Ive contacted Voya now 3 times. The first 2 times I was disconnected by the automated system. The most recent time I tried to contact them by email on the 19th. They replied to go thru their website. I then tried that route only to find their system has no record of my account. Ive been paying them $34.19/ quarterly for the past almost 5 years.

I resigned from the job I had the Voya account with. I was told 4 different things about closing the 401k account and cashing out the account
Ive been trying to retrieve my 401K money for two months. First I was told I had to wait for paperwork to get to my address before I could withdraw my balance. I received no paperwork. Then I was told to go online. That didn't work My employer doesn't allow that, the rest of the weeks have been spent waiting for a PIN number to co e in the mail. Nothing. Now Ive spent 15 hours waiting for a PIN number to come to my email so that I can access the money and close the account. These temporary pin numbers are only good for 24 hours at a time, before you have to change them. This is not rocket science. Now its the weekend 2 months later and Ive still have made no progress. This is unacceptable.