Farmers New World Life Insurance Company

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Farmers New World Life Insurance Company

4 reviews
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President: No President Known
Farmers New World Life Insurance Company
3003 77Th Avenue Se
Mercer Island, WA 98040
Phone: (206) 232-8400
Toll Free: (800) 225-0011

Types of Insurance Offered

Farmers New World Life Insurance Company Summary

Farmers New World Life Insurance Company is a Stock company that was incorporated in 2010-02-21. Farmers New World Life Insurance Company is a Life insurance company and has assets of $6,443,865,590, capital of $6,599,833, and net surplus of $544,876,140.

The president of Farmers New World Life Insurance Company is , the treasurer is , and the secretary is . Farmers New World Life Insurance Company insurance plans include annuities, health, and life.

Farmers New World Life Insurance Company is located in Mercer Island, WA and the phone number for Farmers New World Life Insurance Company claims, customer, service, and additional information is (206) 232-8400.

Farmers New World Life Insurance Company Location

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Farmers New World Life Insurance Company Reviews: 4 Reviews

  1. John McAdam 08. Mar, 2012 at 12:00 am #

    A 0 is too high a grade for Farmers. Here is my story.

    Greetings: I am writing because Farmers seems to have no regard for the facts in my complaint. The facts are that I lost surrender fees of 5% and 6% of two annuity contracts that were transferred from Genworth. Genworth informed me after the fact that there would have been 0% seven months later 8/12.

    The agents have the correct paper work they filled out, but that does not mean my interests were not misrepresented.

    Below is a description of my complaint and as a customer of 25 years I feel my words are falling on deaf ears.

    Policy # 008514145Z

    My Farmers agent has informed me that I can exercise my free look option to cancel this horrible investment. I request that all the money be sent back to my old annuity; including having my 5% and 6% surrender fees restored. It does not make any sense to switch annuities from one that pays 3.25% to 3% and loose surrender fees. Incidentally, the surrender fees would have been 0% as of 8/12. However, my old annuity with Genworth (because they would lose money on an old contract with higher interest rates) can not be restored and I need another investment option.

    I am very disappointed in Farmers because they solicited a meeting at my home to assist me in financial advisement (after losing my wife to cancer) and misinformed me into making a costly investment. My goal is to retire someday and this is an unnecessary setback. Agent Calvin Bispring claims he came to help, but he cost me $2290.10

    The investment was moving two Genworth annuities into a similar Farms product. I asked Calvin Bispring several times about the surrender charges and he said they would be about 200 dollars, but I would make it up because the Farmers fixed annuity performed better; not true, the surrender charges totaled $2290.10, two years of interest. Also, Calvin Bispring tried to get me to switch my Putnam fund that I paid a load on to a Farmers fund with a 4.5% load by criticizing Putnam and Genworth as poor companies.

    This is very irritating because I let these farmer financial advisors into my home and in two hours I was on my way to losing $2290.10; while they supplemented their income.

    Please restore my surrender fees to the pre-investment original amount. I have proof of surrender fees.

    If you have any questions. Please call me at 312-659-2136

    Sincerely,

    John McAdam

  2. Ralph Faulkner 03. May, 2012 at 12:00 am #

    I was sold 2 whole life policies 30 years ago with the promise that I could eventually stop paying premiums and they would be self- sufficient. Now my policy is down to nothing, and will be cancelled if I do not make payments over 300% of my current monthly payments.

    My initial agent left Farmer’s, and my new agent NEVER told me that I should increase monthly payments to keep it solvent. So, here I am after 30 years, looking for insurance – Thanks, Farmers! RF

  3. Mike Hackett 24. Dec, 2012 at 12:00 am #

    My experience with Farmers New World has been completely negative.

  4. D Smith 10. Oct, 2013 at 12:00 am #

    What a horrible company. Simply trying to update EFT info (that is an electronic draft of my life insurance policies premium – yes multiple policies) Can’t find any information on my term policy. I sure know they have taken payment every month but NO ONE can tell me my policy number or HELP at ALL.

    I have never received a communication and I know that is because once they have your money they hope you NEVER file a claim. SO VERY ANGRY. Have had farmers over 10+ years but have NO confidence my premiums would mean anything if I died.

    I am just going to cancel instead. Great Job Farmers!!! (from all other companies one of which will now get my business)

Rate and Review: Farmers New World Life Insurance Company