Global Atlantic complaints: Policy and refund issues

• These notes summarize complaints against Global Atlantic Financial Group and its handling of customer policies and refunds.

Preneed Cremation Policy Cancellation Issues

• A customer purchased a preneed cremation policy on December 11, 2024, for $2232 and policy number is *********.
• The customer cancelled the policy within the 30-day window, notifying the company on December 16th and submitting a form on December 17, 2024.
• A different cancellation form was submitted to Global Atlantic on January 3, 2025, after being notified of the need to do so.
• Despite assurances of a refund check being mailed, the customer did not receive it after multiple follow-ups.
• The customer's contact at *************************** intervened and arranged for a new check to be sent via overnight service, but this did not occur.
• As of February 14, 2025, the refund had not been received, leading to concerns about the company's practices.

Unpaid Credit on Prepaid Funeral Policy

• A customer was owed a $67.32 credit on a prepaid funeral policy paid in full on 10/21/2024.
• Despite repeated assurances from customer service, the refund check was not received after two months.

Annuity Access Denied During Divorce

• A customer with two annuity accounts was trying to withdraw money during a divorce.
• Global Atlantic denied the withdrawal, citing the divorce proceedings and initially requiring a court order.
• Despite obtaining a court order allowing access to $140,000, Global Atlantic then demanded a divorce decree.
• The customer incurred significant legal fees ($500/hour) to obtain the court order, which the company still denied.
• The customer claimed the denial was impeding their ability to pay household bills and attorney fees, despite Massachusetts law allowing such withdrawals.

Policy Not Recognized After Husband's Death

• A customer who originally took out two policies in 2012, one for herself and one for her husband.
• After her husband's death, the company paid out on his policy in April 2023.
• The company then claimed to have no record of the customer's policy, despite proof of payments.
• The customer sought a refund of all payments made towards her policy.

Unpaid Pre-Need Policy Benefits

• A customer's mother had three pre-need policies totaling $388.
• The original beneficiary, the customer's father, died in 2016.
• Claims were filed with death certificates and proof of cremation coverage by another insurance company.
• The company was unresponsive and unhelpful, even hanging up on the customer when they asked to speak to a manager.

Issues with Funeral Pre-Arrangement Policy

• A customer had pre-arranged funeral policy adopted on August 7, 2003, to pre-select the mothers casket
• After her mother's death in May 2021, the company requested documentation that the funeral was paid off.
• The customer provided documents from the funeral home, but received no response.
• The funeral home was portrayed as a new business, making it difficult to obtain the necessary paperwork.

Unauthorized Debit on Paid-Off Funeral Account

• A customer with a paid-off funeral account was notified of a $576.82 debit.
• Despite assurances that the debit would not occur, the customer's account was debited on July 23, 2024.
• The company initially stated the refund would take three days, then revised it to August 7, 2024.
• The customer expressed hardship due to the unauthorized debit, as the account was intended for the mother's mortuary expenses.

Payment Distribution Issues to Beneficiary

• A claim was made on 12-5-23 for payment/distribution of funds to the beneficiary
• Payments were issued 12-8 and ***** of 2023.
• Checks written could not be deposited to beneficiaries account.
• Letter written 1-9-24 explaining the problem.
• No response, the company was called 2 times and was told that the letter is in review.
• 2nd letter written with additional request and instructions, no response.

Incorrect 1099-R Forms

• A customer was trying to get a corrected 1099-R for the 2023 tax year.
• The initial 1099-R form was incorrect, showing no withholding for federal or state taxes.
• Subsequent forms contained errors in withholding percentages, gross dispersal amounts, and even the tax year.
• The customer spent considerable time contacting the company and escalating the issue, with minimal resolution.