Total Amount in Dispute:
Total Amount Settled:
Complaint Resolution Index (CRI)
BCA's Summary and Analysis:
Complainants allege they were misinformed about the policies and how they mature or are paid out. Based on the misrepresentations made by the sales representatives and brokers, customers requested to get their money back. Additionally, they are unable to reach the company. The company will not return phone calls or make contact.
The company responded to a few complaints by explaining they use three different estimates from independent labs to provide actuarial life expectancy estimates; referred to the facts that are provided as well as disclosures to the investor prior to purchase; offer projection sheets to show the potential returns by year, explained that some policies mature earlier than others, or offered further education regarding how the process works. Most of the responses indicate in part that Reliant works with thousands of investors through investor agents and financial advisors. Each investor, in Disclosure Statements, Expectancy Reports, Premium and Rate of Return Forecasts, and Purchase Agreements, approves and acknowledges in writing the characteristics of the investment including rates of return, future premium obligations, and life expectancies, among other subjects. Reliant is committed to work with investors and communicate as effectively as possible directly and via the trustee and policy service provider partners.
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