London Life Life Insurance Reviews

I became concerned 10 days after a RRSP seg fund transfer to a different institution . My account was closed , a cheque supposedly sent by snail mail to the new one . I was told repeatedly the receiving institution must be at fault , it was in their mail room , the cheque was sent on such and such a date , blah , blah . When the receiving institution contacted London Life they were told there was no cheque to cancel , that it had been mailed...for the first time , just two days ago !! Disappointment is an understatement . It cost me money and time to chase these scoundrels only to find it was a complete waste of time and I am not happy . Is there a professional standards branch to whom i can seek recourse , does anyone know ? Please and thanks.

My Wife passed away from breast cancer, we took policies together, London life Made a mistake and entered my birthdate on her policy!!! As a result they have refused to pay out the full face value of the policy! The agent was also made aware of this issue by London Life and made no effort to contact us and have this corrected! I guess he got his commission so who cares! There is concrete proof that this was 100 percent London Life's error and they are exempting themselves and their agent from any responsibility!!
DO NOT GIVE THEM YOUR MONEY! I have now retained a lawyer to fight these people!

Called several time about a policy, did not get any anywhere. Next step Ombudsman and BBB Rating should read 0

I decided to cash out my Freedom 55 account since I have another life insurance. At this point, I've called every month for 3 straight months, spoke to 3 different people, was given 3 different stories. Finally I spoke with an agent who had me fill out a bunch of forms. I sent them in.....and she promptly sent me a whole new set of the same forms. I've been trying since May 2nd and its now almost October. I can't tell if they're dishonest or just remarkably unintelligent.

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!!!!!!

Started a policy in the 80's, and 23 years of payments vanished because of some bogus loan that was made on the policy. Try to do anything about it and all they do is just give you the run-a-round and treat you like crap. Months later, investigations are still going on and no intentions of getting anything done. This Company is full of FRAUDSTERS AND DELINQUENTS. DO NOT DO BUSINESS WITH THESE PEOPLE.

I just had a nightmare experience with London Life’s Participating Life Insurance.
All they want is your money. The so called “Financial Adviser” has excellent cheating skills. He sold me the insurance with a premium that accounts for more than 1/3 of my salary, and told me the amount can be reduced next year. He hides the fact that reducing the premium “next year” leads to lossing about 1/3 of the premium I paid in the first year. Why he hides the information? Why he insists of reducing it in “next year”? It is because his commission for the first year is Huge, Huge. The commission would belong to him once the first year passed. What I loss would be what he earns, that is the key.
I cancelled the policy and naïvely made complaint to London Life. DO NOT believe London Life’s Complaint Office. All it does is to protect their “Financial Adviser”, therefor not return my money. They turned me down by using two kinds of “proves”:
First, “You signed the policy…” Yes, I signed the policy, but it is a result of cheating, which is what I am complaining for! If signing a policy can be used as reason of turning a customer down, are there any other complaint cases? I don’t know if the Complaint Office has no logical mind or just playing a game with me.
Second, “a note from the “Financial Adviser” saying he explained everything to you...”. The fact is he did not write anything at the meeting with me. It can be made up any time after when there is a need. On the other hand, I provided a real Hand Writing note by the “Financial Adviser” to prove he was cheating me, guess what, London life complaint office just ignored it. It is such unfair!
Do not deal with London Life!!!

My father made the mistake of getting sucked in by the sales pitch decades ago and regretted it, and trying to help him deal with them the past few years I understood why. Their whole business model relies of the ignorance and passiveness of the consumer, as they rig the contracts totally in their favor and provide no details on the calculation of premiums, loans, cash values and eventual payouts. It is like getting a Visa bill with no itemization, just a total.
When in his 80's, they would send invoices for the full loan value without warning (randomly, not on the anniversary date), hoping to trigger the voiding of the contract if not paid withing 30 days. It could have easily happened. And they would never give proper explanations, you have to talk to a franchised salesman to get 'service', which is how they get people in the door to sell more product. Totally unethical in my opinion.
Final insult is after he died after many years of their stress and hassle, they did't pay any partial year of dividends, ie they keep the 11.5 months of dividends as he didn't make it to the anniversary date, but of course charged 11.5 months of much higher interest on the loan portion... a cheer goes up at LL! Also they did not refund any of the annual premiums paid in advance, they pocket that. He was never advised how to use the dividends to pay down the loan, for decades they happily charged 6% interest and used the 2-3% dividends to buy more insurance!
A totally untrustworthy place IMO, and customer service is a disaster. One department actually made me fax back the policy details another dept had sent me the prior month before they'd work on it! I think the confusion to the client is a deliberate attempt to keep the clients in the dark. The more you know, the less you'd like....
Thanks for listening. I will correct this if I ever hear back from them with anything I have said is wrong, I have asked several times for detailed information, as had my father, but it is like pulling teeth, such a runaround.
They cant be trusted, I recommend buying cheap term insurance and put the huge savings in a TSFA or RSP, then you'll drive the Lexus instead of them!