Independent Life Insurance Reviews

London Life Life Insurance Reviews

(4 reviews)
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Category: Investments, Savings
(2.7 out of 5 stars)
Customer Service:
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Mutual funds

 
(1.0 out of 5 stars)
by gaspar Nov 03, 2017
...I purchased the segregated funds. London life allows you to borrow 100 000 to invest. My major position was the canadian resources fund which I bought at around $55 later on in the year that , I discovered that they had a significant position of the stock: Sino forest...a chinese company ... which had fraudulently over stated their assets...charges were laid and I lost around 20% of the fund of Canadian Resources Fund because of a Chinese Company, but that is just the beginning. The guarantee of the fund was told to me in wriiting that would guarantee the fund at maturity. I was told at 55 these guarantees will kick in (freedom 55 right) nope only if i die or at 105.!! In other words the guarantee is worthless (this was a big selling point for me) I submitted the document from the salesman that I received and they said he has since been fired, and the policy is stated on website. anyway I can go on and on but after ten years in London life with their high MER and poor performance I am out 20K... Do not buy into this company funds ...unless a tin cup on the corner is in your retirement future... just look at performance of any fund and factor in the MER and look at what you will have made...more often than not 0 I am good at losing my own money I don t need self titled professionals to do it for me!! if you call to ask them why a fund is not performing better (this year for example the TSE has gained over 20%) they tell you that 'oh well these are long term investments , they do not directly reflect stock movements.. if the stock goes down in bad times , they say 'oh well the market if performing poorly...not a good time...but it will come around.. In any event freedom 55 is a admirable goal just don t expect to have it with London Life...
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Life Insurance and Investment

 
(4.0 out of 5 stars)
by Loyal Client Jun 04, 2014
...I have dealt with London Life for almost 40 years, from a claim on my late husband's disability insurance to his death benefit, and now my financial investment, I had no problem in customer services whatsoever. It is a very reputable company. I read some of the bad feedbacks from other people. It appears that the problems are with the individual London Life Representatives and not the company. It is very important to have a honest understanding working relationship with your representative. If you are not happy with him/her, call the head office and let them know. But as far as trusting the company, there are no concerns...
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N/A

 
(4.0 out of 5 stars)
by ethanw Jun 06, 2012
...They have dividends (which I liked esp as a student since I could borrow on the policy and I only pay so much a year to be covered for life...
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N/A

 
(3.5 out of 5 stars)
by Chris Apr 30, 2012
...The interest and dividends that have been invested I have been less than totally satisfied with their responses to my questions and requests...
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