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CUSTOMERS ALLEGE THAT AS PART OF AN ESTATE PLAN THEY WERE ADVISED TO REDUCE THE FACE AMOUNT OF A HARTFORD VUL POLICY, BUT THEY WERE INCORRECTLY INFORMED THAT THERE WOULD BE NO SURRENDER CHARGES.
Damage Amount Requested
$7,888.00
Settlement Amount
$7,880.00
10/10/2001
Customer Dispute
Denied
Allegations
WITH REGARD TO A MUTUAL FUND OPENED IN JUNE 1999, THE CUSTOMER ALLEGES THAT SHE WAS NOT MADE FULLY AWARE OF THE RISKS ASSOCIATED WITH HER INVESTMENT. THE CUSTOMER STATES "UNDER NO CIRCUMSTANCES WOULD I HAVE INVESTED MY MONEY IF I HAD BEEN INFORMED OF POTENTIAL RISKS BY MR. COATS."
Damage Amount Requested
$300,000.00
Broker Comment
UPON REVIEW OF POLICY RECORDS AND DATA, NEW YORK LIFE DID NOT FIND SUFFICIENT EVIDENCE TO SUPPORT THE CUSTOMER'S CLAIMS. NO OFFER OF COMPENSATION HAS BEEN MADE TO THE CUSTOMER.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
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Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.