Northeast Planning Corporation Reviews (2)
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Northeast Planning Corporation Rating
Description: Insurance Services, Insurance - Life, Insurance - Long Term Care
Address: 1150 Raritan Road Suite 2, Cranford, New Jersey, United States, 07016
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www.northeastplanningcorp.com
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I received an email from [redacted] life insurance this morning that my policywas surrendered yesterday, July 7, 2015. I did not receive this email untilthis morning, July 8, 2015. As long as my policy is cancelled in full, andthere are no further issues with [redacted] or the...
Howley FinancialGroup, I wish to walk away and be done with this whole matter. I stillrequest that none of my references be contacted. I also would like all ofmy financial records returned from the Howley Financial Group. At thatpoint, I do not intend to continue this matter any further.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
[redacted]
Review: I purchased a whole life insurance policy from [redacted] through Mr. Howley. I was led to believe this was an investment tool to build wealth for my retirement. Initially agreed on a policy with $1000/month premium. When I met with Mr. Howley after the initial meeting, he had drawn up a policy with a $1500/month premium. I corrected him on this. He stated another policy would have to be drawn up for $1000/month, but he would take care of that on his end. During my initial meeting with him, I was informed that I could reduce my premium rate at any time. About two weeks ago, I contacted him to reduce the rate, at least a few months if not indefinitely. He stated I couldn't until the policy was a year old (April 2016). He told me he would even pay my premium for a few months until I could make the $1000/month payments, then pay him back. I called [redacted] myself and was told I could reduce my rate at any time. Mr. Howley asked me for "3 references" during our first meeting. I gave him three but asked him not to contact them until I gave him permission. He did so anyway. One was my boss. She was not happy. I requested to cancel this policy outright. He did provide me with a cancellation form. I sent it to [redacted] myself as I no longer trust his involvement in my affairs. [redacted] told me he contacted them to put a hold on my cancellation request in the attempt to conserve the policy. I have paid $3000 into the policy, and am told the cash value is $24. I was led to believe by Mr. Howley that the money I put in was mine and could be taken out at any time. Per [redacted] it will take me years, at $1000/month, to break even on this policy. Per [redacted] the $3000 less $24 I put in goes to them and broker comission. At this point, I would rather walk away with my $24 than put any further money into the policy. He was not honest and up front with me during my dealings with him. I want out of the policy now without further resistance from Mr. Howley.Desired Settlement: Per my conversations with [redacted] I understand I will lose $3000 less $24. I want to cut my loses and move on. I want out of the policy without any further resistance from Mr. Howley. He also has my financial records. I want all of those returned to me in full, less I go through third party arbitration to do so. [redacted] is willing to work with me, without Mr. Howley's involvement, to cancel this policy. I do not want any interference from him. My references are not to be contacted.
Consumer
Response:
I received an email from [redacted] life insurance this morning that my policywas surrendered yesterday, July 7, 2015. I did not receive this email untilthis morning, July 8, 2015. As long as my policy is cancelled in full, andthere are no further issues with [redacted] or the Howley FinancialGroup, I wish to walk away and be done with this whole matter. I stillrequest that none of my references be contacted. I also would like all ofmy financial records returned from the Howley Financial Group. At thatpoint, I do not intend to continue this matter any further.
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,