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Reliant Life Shares, LLC complaints

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15260 Ventura Blvd Suite 1420
Sherman Oaks, CA 91403 | Get Directions

(818) 788-1904

http://www.reliantlifeshares.c...

Monday to Friday - 8:00AM to 5:00PM.

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Total Amount in Dispute:
$671,106.00

Total Amount Settled:
$0.00

Complaint Experience

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:

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.

Complaint Closing Statistics

13 complaints against Reliant Life Shares, LLC closed in last 3 years.

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

13 complaints against Reliant Life Shares, LLC

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2/27/2024

RESPONSE: Refuse to adjust, relying on terms of agreement Amount in Dispute: $40,000.00 Amount Settled: $0.00

Customer Complaint

2/9/2024

Since 2013 I have invested $40000 towards 2 policy's and I can not believe that the policy holders are still alive. I do not get any updates and I only get the invoices for upkeep towards the policies. Resolution Sought Return my investment plus the promised amounts as the policies must've been matured already.

Company Response

2/12/2024

Reliant Life Shares, LLC is in receivership. The case is in the Superior Court of California in Los Angeles County, Case #BC604858. All investors should register with the Receiver at https://www.reliantreceivership.com/register. Investors can also call 470-703-4600 to leave a message for the Receiver.

Customer Rebuttal

2/27/2024

Return my investment plus the promised amounts as the policies must've been matured already.

Company Final Response

2/27/2024

This is not possible at this time, because the company is in Receivership, the instrument the complainant purchased are not liquid, there is no market for them at any price, and the only way they become cash that can be distributed is when the insured person covered by a policy held by the held by the sub-trust in which the complainant holds a position as a beneficiary dies. None of the insureds covered by any policy held by any sub-trust controlled by the Receiver has died, therefore it is not possible to provide the resolution sought. If you have not already done so, please register at https://www.reliantreceivership.com/register With kind regards, CHRISTOPHER CONWAY AS RECEIVER FOR RELIANT LIFE SHARES, LLC

11/16/2023

RESPONSE: Complaint was not answered Amount in Dispute: $162,000.00 Amount Settled: $0.00

Customer Complaint

10/23/2023

Elder abuse, fraud, forging my signature , no calling me or answering my calls or tell me where i stand. send me text and deciding for me without letting me know. Resolution Sought Get my money back

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