ComplaintsforKnights Of Columbus
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Complaint Details
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Initial Complaint
03/05/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
We cashed out our insurance policy. The agent made mistakes in paperwork 2 times beginning of Feb and that delayed it. Then agent did not stop taking direct payment from our acct. because of his mistakes .***-said I had to get form from bank showing that cleared and then email it to them and they would deposit. I did that yesterday (03/05/24) still no deposit. Called today and ******* cannot guarantee payment. I have shared, expoing we are needing this for family emergency. We have jumped through hoops. They are being unfair and terrible service. Please help me get our insurance policy $.Business response
03/21/2024
Hello BBB,
Yes. there were some errors getting the surrender completed. However, we should have explained to the client that when a policy is being surrender and the next payment draft is within ten days, the funds will be held and not released until the funds clear the bank. Once the draft happens, we release the funds. This protects the member to make sure they receive all the funds if a draft occurs. The process of getting a copy of the draft from the bank showing the funds were taken allows us to not have to delay the surrender.
We are very sorry for the delay.
Thank you,
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Customer Complaints Summary
1 total complaints in the last 3 years.
1 complaints closed in the last 12 months.