I noticed on a recent statement that they started charging me fees for my holdings. When I initially opened an account with them in 2018 I was told there are no fees. The fees began in May 2019. I hadn't been checking statements closely because I had set up the account as a passive investment vehicle. When I called to find out what the fees were and they said "we started charging fees in 2019 and you were notified" even though I never received any explicit mail or email stating such. When I asked for a fair solution to these usurious fees I met with dispassion and excuses on why nothing could be done. This is why I don't go with "big bank" like companies, they all charge fees and treat their own clients unfairly.
Manulife Life Insurance Reviews
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- Rates from 20+ life insurers
- Premiums start at $12/month
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- Can be purchased remotely
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I was sold a whole life policy and promised all these great numbers in my cash value. As I looked more into it and did my third party research I found out quickly how they kept my savings for the first 3 years. Also, I only got the death benefit or cash value when I died. So to explain it simply I was paying for two things and only get one in return. Stay away from this company. Horrible customer service, my agent was only after a Commission.
Fine. Particularly quick service when we cashed in the policies for the cash surrender value.
Their sales presentation was deceptive. The performance of their whole life policy has been disappointing to say the least.