The negatives are to long to even start to list here! They can talk circles around the numbers making you think you will have an unlimited stream of money to outlast you based on their annuity structure. by Benjamin Keller, by Craig williams, I was still unable to have my request honored for direct deposit. AXA refused to help, I would not give them any star rating A passenger in the car called out the RAC who arrived and fixed the wiper mechanism within 2 hours… Read Full Review If you are commenting on behalf of the company that has been reviewed, please consider upgrading to Official Business Response for higher impact replies. Whatever problems you may be having with your personal finances AXA is one stop shop that can point you in the right direction. They had no answers and no apologies. 10/25/2017, Cons: Obvious bad procedures and plolicies. We paid the “stupid tuition” (early surrender fees), learned our lesson and have never looked back. Do not invest with this outfit! 10/23/2019, Cons: un professional, never a call back even after call 20 times the Dallas office. Of course some down years, but overall, AXA has done well by me and have considered investing more into my fund. I actually don't see the total of my account. Today we finally cut ties with her. I will not really listen to you if you will be a financial advisor. My gut told me something was off. After being on hold for 55 minutes and getting to #11 in the queue the system hung up on me again without me talking to a customer rep. Another set of tries to get past the automated system I was 27 in the queue. Thanks for wasting our time! Never does. How to type Square ² in Computer Keyboard? so ang 35 percent ng 30000 ay 10500 so ang investment po ay 19500 na lang minus pa po ang mga kinuha na riders benefits. Copyright 2010-2021 TopRatedFirms.com. Really drop dead issue that was explained to broker and phone help and included instruction on fax. Founded in 1962, Philippines AXA Life Insurance Corporation is a major player in the insurance industry. Lots of fees. Absolutely ridiculous! They first started two years ago, and even after I told them many times to take me off their list, call me at least once a month. We are looking for an investment vehicle that will give us the opportunity to make our money grow just through our savings. 8/12/2020. Personally I have had a poor experience with AXA. I’ve rolled money from another retirement account previously and it was so simple. LOL, really? On Friday I again checked the online dashboard and both accounts no longer appeared at all. Had to close my account. Transparent, hard working individuals who consistently keep their clients best interest in mind. Had the dis-pleasure of working with Zhihong Shen also known as Grace Shen. Impossible to get a hold of once you've given them your money. Ayon sa kanya nagbreak even yung nadeposit nya VS laman ng account nya nung 6-7th year ng policy nya. As of the time of this review, there is no further information on the progress of these cases. The agent has all paperwork. After doing some deep digging with another advisor I found I was paying a total of 5% AXA managing fees. DEER IN HEADLIGHTS....... BE CAREFUL The people may be nice (maybe!) I have been impressed with this company and its advisors. The guys seemed great, but I had no idea what they were setting up for me or what the fees were! The legal boilerplate of all the documents you sign when opening your account and creating a policy hide the fact that you will pay enormous amounts for very poor performance. I was not given what I asked for and was mislead when I tried to inquire about apparent problems. None of what we were told has come true. No choice in what they invest your money in and it ALWAYS LOOSES your money regardless of what the market does. Cons: Axa Equitable sends your information offshore. Since I used paperless process I did not have the account numbers since they not longer showed in the AXA online dashboard. He tells me that it looks like my accounts are set for payouts, but there is nothing that can be done till Monday, when he will follow up with the right department and then with me. I have since found new products with other companies and considerably less managing fees.Pin your advisor down. No screw-ups, no back and forth calls. The are not Cyber safe, too many loose ends. by RKlatt, The main company doesn't have me on file as the Power of attorney. They sucked money out of my Dad for 25 years and then cancelled his policy for being about 17 days late on a payment. After 4 years of very negative returns due to the overpriced policy that finally dropped off, the agent refused to admit any wrong doing. I'm also a CPA and can properly read customer statements and understand financial concepts. The IRS came after me for back taxes on the distribution. We have had 5 policies with AXA for several years. They hire young recent grads and with little training coach them to lure their family and friends to come over as clients. These insurances agents are not fiduciaries and do not have your best interest in mind when selling you their products.At age 27, I (thought) I needed help setting up retirement accounts when I became an independent contractor so I asked a "friend" who was in the business for help. We were sold an annuity described as a mutual fund portfolio and it was explained to us the only fee was their split of expense ratio's with the mutual fund companies. By far the worst and absolute frustrating customer service ever! Their annuity is really a scam and they should be issued a class action law suite for their thievery. My Roth and 401k assets at Vanguard were transferred into Roth and SEP Annuities, I was sold a Variable Universal Life (VUL) policy (instead of low cost term insurance) and (to consolidate my accounts) I moved my brokerage account to Axa as well.For four years and a half years I ...• Paid 4% commission on all contributions plus $100/month in administration fees for VUL policy.• Paid 2.5% asset under management and mutual fund fees on both the Roth/SEP annuities and on the investments in the VUL policy.• Paid 3% commission buying Vanguard ETFs (that I picked on my own).When I discovered I made a huge mistake, I decided to close all my accounts except the VUL. Sadly, most of us Pinoys have grown allergic to talks about death and life insurance products in general. Cons: DO NOT USE THEIR UNPROFESSIONAL AND DONT KNOW HOW TO CONDUCT BUSINESS. They are eager to take your money, but after they have it you're screwed. requirements. clarify what fees are associated with the product. They sent link that we can’t open. Consider the breadwinners who always tightens their belts just to provide everything for their family. It wasn't until then did I decide to truly do work with an AXA advisor. Hadn't heard from anyone affiliated with AXA in at least 5 years. The few 5 star review I'm sure are there by AXA Brokers or their friends to try to bring up their rating. by David Hawks, 7/5/2019. I was told that this sis something that the company does not like to disclose to clients..... WOW! It doesn't guarantee you a "double-your-money" overnight. My advisor was new, but had plenty of support and always had leaders to help, so this was not really a con at all. 10/31/2018. Best car insurance Philippines: Charter Ping An Insurance Corporation. Neither of the legal issues in AXA Equitable’s recent history raises major red flags; rising premiums on universal policies are common across many similar companies, and AXA is not the only one to take some legal heat for it. Luckily, that was not the case. Comparing my actual premium paid and the fund value, it's seems like I am losing nearly 50%. All rights are reserved. Act professional when you are transferring your money in or opening an account. Hope they can have complaint desk for this matter. I was told that he couldn't tell me when they would make a decision about my request. Here’s a sad but true story you can learn from. NO ONE will look out for your money better than you. That, with other funds tied up in a “can’t lose” annuity. I had expected to be investing and creating a future with their professional guidance. by Monica Daucourt, We're one of the leading and fastest-growing life insurance firms in the country. 4/17/2019. It's security for your family's future. kung iisipin okay naman po ata? It was now about 6 pm Friday and I'm freaking out that they little money I had in the accounts has been permanently stolen. Often Difficult to get a person. Cons: Extremely difficult to transfer money out. Then I stopped contributing and I receive emails and calls weekly to book an appt. Parang napakaorganize nila sa pagsisinungaling sa mga clients. by Mr. Miller, God bless anyone who was taken by this company. On another note, my first experience with an AXA professional set the tone for the rest of my time with them. How to Deactivate or Block BDO ATM Card Online? On Tuesday, finally the second annuity shows up deposited in my checking account. Insurability. Cons: High fees and up-selling their products that were not in your best interest. Death benefits total over $5,000,000. Secondly, I have been hung up on twice when I asked for forms to be sent so I can close and transfer my account. Even when things got started, I had no problems. Doc Pinky, how about po yung sa AXA AXELERATOR? then try to share it here para we know here what kind of risk we need to expect and not to expect. of continues payments due to financial crisis. They even said that she was supposed to file the POA with them, but didn't. I would have been much better off investing in a simple savings account even with the miserably low interest rates because at least I wouldn’t have lost money. After 20 years of having AXA accounts, now that Im retired I went to cash out the annuities. Financial stress arises from unexpected health emergencies like sudden illnesses, accidents or medical conditions. Basically this is actually not a company. 3/25/2021. AXA has more than €1.2 trillion in assets under management and reported €92 billion in revenues in 2014. They say I will make a great deal of money by the 5th year which when i asked by exactly the difference by how much total premium i pay and the total saving I would make didn't even make 100 euros difference because it has to be a long run investment but they always lie and guarantee that I will make a fortune. Buyer beware. BEWARE! This company, and I believe annuities in general, are total rip offs of the public. The following day the customer service person told me that they had processed my payment request for one of the annuities and had issued a check that was being mailed to me in spite of me sending all the information for direct deposit. I had to email and call my broker again before they finally prepared it and sent it to me on the 23rd! They keep making excuses why they can't send it out. You will see your money drain without any sort of assistance. No screw-ups, no back and forth calls. 10/31/2018, Cons: The main company, way too many to list. by Gallatin, The advisers sweet talk you. I have been trying to rollover my account from AXA for 14 months. 8/21/2017, Pros: easy to talk with, straight shooter. Ang investment hindi madalian, kung hindi mo kayang magantay at mainipan ka , wag ka kumuha ng investment. When a young car thief stumbles on the invention of the century (and the various government agencies that want to kill him), he and a sassy checkout clerk … We were with her when she worked at State Farm and then when she went to Nation Wide. Through AXA ’s professionally managed funds, you can maximize your earning potential to build up your investment faster and reach your medium to long-term goals sooner, or simply prepare early for your retirement. I phone them and was told I made a mistake filling out the form. They immediately closed the account and indicated they were transferring the funds. I have interacted with this company numerous times. pay lang for 5 years, then as early as 8th year, may payout na for 4 years ata o 5 years depende sa plan mo and pinili mo. Not once, but multiple times. Thank you! Professional all the way. Management is a bit untrusting to their employees. If I'd been smart enough to research this company before investing my retirement funds with them I would have gone elsewhere. However, the woman set up to train me was buzzing in my ear not to answer client inquiries without being licensed and there was miscommunication all over the place.I had another instance where a client was sent the wrong withdrawal form by the assistant which caused her to unexpectedly be taxed.This same assistant taught me to prefill social security numbers which I later found out was against company policy and this lead to someone’s account being wiped out by fraud. They said it is is only for first 3 years dahil sa 4th year and up riders na lang ang bawas ng insurance sa premium. Marami ako nabasa na sa 4th month tinigil na nya yung plan kasi luge daw, yung iba 3 years or 4 years pa ata. Trying to transfer life insurance policy ownership to my mother and this process has taken months! AXA does not return phone calls, hangs up on you, doesn't respond to their own forms that they ask you to fill out. by Tom B., What if I'm just a minimum earner and I can't afford to establish my own business or invest in a real estate? What I really wanted to hear was "We will amend our procedures so it doesn't happen again" but it was never said. Now I am totally freaking out since Im thinking someone stole the money out of my accounts I searched my house and finally found a paper with the account numbers from before I went paperless. A week has went by and still no response from them or where they are at in releasing MY MONEY, by Melissa Parker, Expect better returns and value of your invested capital for at least 5 years. When I checked the account value of my policy online through My AXA Application, it's only 116,340 pesos and it keeps going down. I've had an annuity with them for more than 15 years and it has never gone up. on your 6-8 zeras ( assuimng na ok yung market) dun mo makikita na unti unti nang tataas ung value ng account mo, pag pumantay na sa linabas mong pera hindi yun actually break even dahil nabawi mo na yung pera mo plus may insurance ka pa. eto ang hindi nakikita ng mga iba na nafrufrustrate on their 1st year till 3rd year. Respecting our customer's feedback AXA ensures to provide the best service to its customers. This is the most dishonest and untrustworthy organization I have ever dealt with. Then after trying to cancel the automatic top off, with a charge per month by AXA of course, they said they could not do and the only way to stop was to cancel the entire account.
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