I have had a Ohio National selling contract for several years. In my early years, I sold few fixed annuities with them. I am the original agent selling them. Their servicing of annuities have been pain for any annuity I have sold. 100% F up rate so far. Client got pissed and asked me to replace if we can. I found another annuity with another carrier, and client signed and apparently Ohio National now accepts 1035 and transfer paperwork by fax. Well they rejected the transfer paperwork because they claim clients signature does not match the original paperwork. I just happened to have the original scanned on drive and of course it is the same. At no time did Ohio National contact me to ask why I am replacing their policy. They can tell I am the one replacing it. There is also no warning on their ONNET system. They just outright rejected the transfer paperwork even though it also has my signature on the paperwork. Most other sound Annuity companies try to contact to preserve business. I understand this. But to reject business like this is pretty low. Especially considering I have placed large whole life policies with them. They have my signature on many many paperwork. I know Ohio National monitors this board. I hope they can resolve this matter in a professional way.
Ohio National Annuities Division still behind the curve-They never learn
- Thread starter walthamny
- Start date
That is too bad, but honestly it doesn't surprise me. I've had alot of trouble all across the board with them in the past 3-4yrs which is why they no longer get any business from me. Worst was I replaced a term life policy for a client with them... filled out the internal replacement forms, etc... got it all done. First, they screwed me on the commission, even though I didn't write the original policy and it was 15yrs old.
Worse than that, they continued to mail the client nasty grams for months stating his premium was past due and policy would lapse (on the old policy) because he didn't pay the bill. He wasn't happy. I called and emailed client svc 2 times... they still sent him 2 more bills, 2 mos after I told them about it. They need to get their act together. The bad part is, I really liked ON... I wish they hadn't declined so much in so many areas.
Worse than that, they continued to mail the client nasty grams for months stating his premium was past due and policy would lapse (on the old policy) because he didn't pay the bill. He wasn't happy. I called and emailed client svc 2 times... they still sent him 2 more bills, 2 mos after I told them about it. They need to get their act together. The bad part is, I really liked ON... I wish they hadn't declined so much in so many areas.
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This is timely.
I received claim paperwork this morning on a $500,000 claim. On of the pages, the bene signs is payment options that of course outline annuities.
I received claim paperwork this morning on a $500,000 claim. On of the pages, the bene signs is payment options that of course outline annuities.
- 10,328
I stopped selling ON because of issues such as this. Great customer service... terrible agent service...
But I mainly stopped selling them because the products were just mediocre compared to other options imo.
Then there was the whole screwing agents out of trails who sold their annuities. No way I will ever sell them after that. Too many options out there to do biz with a company like that.
But I mainly stopped selling them because the products were just mediocre compared to other options imo.
Then there was the whole screwing agents out of trails who sold their annuities. No way I will ever sell them after that. Too many options out there to do biz with a company like that.
- Thread starter
- #6
So posting on this forum works. Their media relations escalated the issue. They sent me a long email. They agreed to process the 1035 exchange if the client and me would call on a recorded line. Client called before I had a chance and the 1035 exchange was processed before I could call. I have had years of bringing over 100k in life premium to them. So they have my signature on many paperwork. I have no idea why they asked me to call on a recorded line. The correct procedure still would have been to call me and interview me before rejecting the signature and also try to preserve business.
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I know ONESCO has posted here once before as the response to another post a few years ago. (They'll probably do that again, now that I mentioned their name. lol.) They are a forum sponsor, so I was hoping they would see it.
