Mark
Muskogee,#2General Comment
Wed, September 18, 2013
I have experienced the hard sell of northwestern mutual agents and put a kibosh on handing over to this insurance a variable annuity I have with another company. They sold me on how much was their return and didnt give me a surrender schedule on their annuity. If I a passed away the company would keep my principle. I did buy some products from Nml such as long term care insurance and did roll over an AXA life indurance policy to NMl. I question the ethicommand honesty of this company.
Jayne
Baltimore,#3Consumer Comment
Thu, September 16, 2004
All this sounds too familiar. I was also approached by a sales agent from NML. He claimed an 8 to 9% return in tax-free dividends. He also said the dividends from my existing policy would pay the premiums. Well, they did not. Like this victim, I was strapped for cash and had to take policy loans to cover the premiums. The agent also disguised the implications of taking a policy loan. Now I owe NML big bucks. When I complained to my state's insurance commission, they were powerless to help me. I could hire a lawyer and go to court. I looked into this option and found that it could cost me 40%+ of what I might be awarded if I won the suit. Maryland favors the insurance companies. One can't sue for punative damages, making cases such as mine less attractive for lawyers.