United Life Financial, Inc ratings, reviews and complaints - Life Insurance Services

Complaints and Resolutions

Complaint Experience

N/A

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

We have received no complaints against this company.

Our complaint services are free and our team of expert mediators will assist in resolving complaints with businesses.

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Complaint Closing Statistics

0 complaints against United Life Financial, Inc closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
0	Agreed to make an adjustment
0	Refusing to make an adjustment
0	Refuse to adjust, relying on terms of agreement
0	Unanswered

Other Information

Company Info

This company's business is providing senior life settlement services, also provides mortgage and real estate services.

Primary Contact:	David Moussighi (President )
Business Started:	1/14/2008
Social:

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Licensing

As of our last verification May 16, 2008, we could find no evidence of a license with the California Department of Insurance (DOI). To verify licensing consumer's may contact the DOI directly by calling (213) 897-8921 or by visiting http://www.insurance.ca.gov/license-status/.

Government Actions

BCA has no information regarding government actions at this time.

Comments and Analysis

Viatical settlements allow terminally ill persons to sell life insurance policies for cash before they die. In these transactions, a company pays a client a percentage of the policy's face value (generally 50%-85%) and pays the insurance premiums for the remainder of the seller's life. In exchange, the company becomes the policy's beneficiary and collects the entire death benefit when the policyholder dies.

The following guidelines can help avoid costly mistakes:

If you have a group life policy at your workplace and plan to leave your job, do not let the policy expire. Many group policies let employees change to an individual policy within a month of their departure, but companies are not required by law to inform employees of this option.

Investigate all your options. Under certain circumstances, your life insurance policy may allow for accelerated payments yet still preserve some benefits for your original beneficiary. Borrowing from the insurer or from the beneficiary may be another possibility.

Resist high pressure sales tactics. Solicit bids from several companies to improve your chances of getting the best offer.

Seek expert advice from a lawyer, accountant, or financial planner that you trust. Payments obtained from viatical settlements are currently taxed as income (although pending legislation may make them tax exempt) and may affect eligibility for government aid. Viatical settlements also have probate and estate consequences.

Verify that the company has the full payment readily available. Do not accept partial payment or installments. Ask the company to put the money from the sale into an escrow account until the transaction is completed

Check with your state insurance department to see if there are complaints against the company and if the company has met licensing requirements.