Complaint Review: MIDLAND NATIONAL LIFE INSURANCE COMPANY

 POLICY NUMBER::  1700543919

On June 1, 1993, I applied for for a life insurance policy with a 403b (TSA).  I transferred $36,000 dollars from a  tax deferred annuity I had at Farm Bureau.  The policy was an iswl/403b.  The death benefit was $115,000 dollars.The planned period premium was $36,400. The mode of insurance was a single premium.

Midland National Life Insurance denies it ever had a 403b.  It was a whole life insurance policy. I contacted the Michigan Insurance Department and they had communication over the policyed with Cheryl  Ziegler, team advisor. Cheryl states that the Michigan Insurance Department agreed with her. I've e-mailed Cheryl several times to inform her the MI Insurance Department has no expertice in the annuity field, but that they advised me to retain a lawyer. They did not believe it was only a life insurance policy.  She was not willing to do anymore research.

I contacted Clarica Insurance, now owned by Midland, and they were very helpful.  They said midland was lieing, because it was always an ISWL/403b.  Clarica told me to get a lawyer.  Clarica took over TMG so the information was accurate.  I e-mailed Cheryl and asked her to talk with a Clarica Representative. She e-mailed back, she talked with the MI Insurance Department and that was all she was going to do.  This, even though owned Clarica, she wouldn't check on the real status of my policy.

Midland found $59,000 dollars and reported it to the IRS as income.  No taxes were taken out!  They reported the, deferred, $36,400 dollars also as income I received, but never received.  The IRS is now receiving $14,000 dollars from me with all of this income I didn't receive.  The money they found was the investment money earned when TMG/Clarica had the policy.

I've asked Cheryl to send the financial records so I could see what they did the money.  Where did all this income come from. I do know that in a conversation I had the person claimed the school put this money in the account.  I explained that the school often is nice enough to take the money out of my salary.  That way,  wouldn't have to make the payment myself. I don't believe it was comprehended.

They asked me to send in the policy so they could review.  I submitted the Policy immediately.  Of course, it came back that my claim had no merit. It was a Whole Life Insurance Policy..  i even e-mailed persons that were ceo's in annuities. It all comes back, it's a Whole Life Insurance Policy.

I've tried hard to work Midland with no results. I even was willing to settle for $106,000 dollars.  This is only the money they claimed I received and the cost  to the IRS.  I thought I was being reasonable.

My wife told me not to include the following, because no one cares about what ailments you have.  I am now 82.  I should have been receiving monthly payments for 12 years.  The reason I'm contacting, RIPOFF, is I have been diagnosed with Bone cancer, Conjestive Heart Failure, and neruopathy.  I've already lived 8 months past the time I've been told I had left.  I want to leave something for my wife, in the event that I'm not here.