Independent Life Insurance Reviews

London Life Life Insurance Reviews

(3 reviews)
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Category: Switching, Cancellation
(2.5 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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Took money after cancelled

(1.0 out of 5 stars)
by Upset and hungry Sep 15, 2014
...It may sound harsh , but when you are on a strict budget after moving across the country. Start a new job, pay rent hydro ,etc. And you only have a couple hundred dollars to live on. For London life to take $345 out of my account ( all I had for grocery money for the month ) on an account that was cancelled in August after jacking my monthly rate from $78 month to $345 , we told them we simply can't afford it. Cancel it imagine the shock to open banking this morning and see the payment once again taken out if our account. When it was cancelled last month!!!!! I have no idea how long it will take to get this money back from them, my bank has been notified to never let London life ever take money out again!! But now we have to find out how long we have to wait to get our money returned to us because if London life's mistake!!!!!!...
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(3.5 out of 5 stars)
by Hallie May 07, 2012
...I did convert one policy to another type several years ago and found the agent helpful...
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