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November 2024 by Nate M
Company is an absolute scam, period.
was unknowingly signed up for a 401(k) request requested a disbursement via direct deposit which instead was mailed to an address that does not exist on earth. Website is useless. App is even worse. Why are we still using paper PDF forms in the year 2024?
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October 2024 by Just Dave
Absolutely awful experience. Trying to roll over a 401k from Principal to another company, I have been hung up on three times. You need to monitor your phone records of your agents and how often they are releasing calls.
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August 2024 by trent
Called over a dozen times regarding a tax form issue only to get blown off, hung up on, and generally treated like garbage. These people seriously do not care. If you have a problem that defies their flow-chart they will be of absolutely no help. You are SOL. Of all the people I spoke with only one person understood my problem and even he came back defeatedly that Principal doesn't care and will not help. From the bottom of my heart, I hope and pray for the worst on everyone I interacted with at this company.
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July 2024 by JAMES Tsatsaronis
PRINCIPAL FINANCIAL is #1. I HAD MY EMPLOYEE 401K WITH PRINCIPAL ABOUT 10+ YEARS. I NEVER HAD ANY PROBLEMS, CUSTOMER SERVICE WAS VERY PROFESSIONAL AND KIND. I WAS VERY EXCITED WHEN I OPENED MY NON RETIREMENT INVESTMENT ACCOUNT. I PUT THE MOST I CAN AFFORD INTO THIS INVESTMENT. I KNOW IT HAS RISKS OF LOSING VALUE, BUT IN MY OPINION BANK SAVINGS & CD'S DO NOT PAY ENOUGH MONEY, PLUS MY 401K BALANCE LOOKS GREAT, SO I THINK EVERYTHING WILL BE JUST FINE. THANKS ALL. JAMES TSATSARONIS SPACE A9.
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April 2024 by Jack Truong
This review is regarding their life insurance, specifically universal life insurance. It’s an absolute scam. If you know anyone who has this type of insurance, cancel immediately and get what you can back. It is not worth your time or money. People who recommend these policies are salesman, and the only reason they recommend these policies is because they get a commission! Do your research on these types of policies (whole life/universal), and you will find out it is almost never worth investing in these types of policies unless you are already well off. Buy term and invest the rest. My mother (who speaks limited English) was taken advantage of by a salesman to buy universal life insurance. Fast forward almost 30 years of payments and $42,000 later, it is worth nothing! The average person is not going to know insurance jargon, and I had to spend hours researching insurance jargon to figure out what the policy entails. Every time I have called customer service, they are practically of little help and always refer me to a specialist (on three separate occasions) who is supposed to call me back, but they never do! It is astounding how this is even legal. Run away from this company and run fast from whole life/universal life insurance.
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February 2024 by Thomas Kenny
This company has reached out to me with checks and forms claiming to be making pension disbursements for a bank I worked for. The bank I worked for is already making my pension disbursements. They told me they know nothing about the Principal Life Insurance Company.
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December 2023 by PINK MAYBE
I have an old life insurance policy with the company principal bought out, I called them and they claim they were never affiliated with them! I WANT MY MONEY!!!
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November 2023 by Ashley Angel
Very helpful and friendly. Big help
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August 2023 by Jerusalem Hebrew Boy 777
HOW ON EARTH IS THIS PLACE NOT SHUT DOWN YET???They are liars!! and robbers!!! who will not allow you to touch your own money or through hardship. I’m going through an eviction which is now headed to court because of this company. They requested that I send them lease agreements and eviction notices. After sending them all that they asked for. They then tells me a 3 day eviction notice is not enough time. What??? They tell me they need a notice that gives 20 days in advance.Yes! You read that correctly!!! They think the world evolves around them.After negotiating with my landlord on the phone she manages to move the field goal post for these clowns. I send them a new notice and they’re telling me it’s still not enough time. The Rep tells me they cannot process it until they get a court date. And even if they do process it they tells me it’ll take 2-3 weeks to receive my money which I still never received!!!! Those fake reviews on here are their employees. Don’t believe me??? Go look at their BBB Ratings and Reviews. STAY THE HELL AWAY FROM THESE PEOPLE!!!
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August 2023 by Andrew Dennis
Withdrawing your money from this company takes forever! The guy struggling with an eviction notice is the reason why I haven't tried withdrawing through the hardship even though I was going through hardship. This company is worse than key bank I would have at least had my money by now. It's been 29 days since I started my withdraw request. This company can go pound sand DO NOT GIVE THEM A DIME!!!I can't DM you I'm actually kind of more upset because my balance is losing value because the withdrawal is taking so long. I've lost money waiting on it.
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August 2023 by Jason Owens
This company is by far the worst company I have ever dealt with. If I could give this place negative stars I would. They are pure liars! Who will hold your money hostage even if you’re an injured veteran. They don’t care whether you served for your country or not. They need to be investigated by the Feds.
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May 2023 by J B
Extremely poor customer service.Principal as a company is abhorrent. I recently left my employer and did a roll-over 401k to another company, and it has been a nightmare. They tried to send me to collections without contacting me. I finally received a letter that said they overpaid me somehow when doing the roll-over. I have called them 10+ times to work this out and asked for a call back and follow up. Nothing for months. When I finally do get a response it's an extremely poorly written letter. So badly written that it looks like a scam. I am able to deduce that somehow, they overpaid me from the letter. Without any explanation I am told I owe $4,500. I didn't even have that much in the plan... I called several times and finally a manager "re-did" the math and confirmed that I was still overpaid but only $400 this time... I asked them to email or share their math and my account statements. They still haven't sent me the math to help me understand where they are even getting their numbers from.This place is despicable. Do not work with this company. Ask your employer to work with anyone else but this company.
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May 2023 by Invisible Love
If I could give them negative stars I would. I have been trying to transfer my IRA for a month! They keep giving me the run around never completing my check only positive reviews here are employees. They have the worst customer service and they are ALWAYS CLOSED ON THE PHONE. Process my paperwork already! I will make sure I do no future business with you.
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March 2023 by Tess R
Terrible support - trying to get 401K overpayment refund and taking weeks. They sent to a wrong address, then they give you either an old fashioned fax number of unsecure email address to send bank details and SS#!!! (This is the 21st century.)Now claim they never got the fax and when they do finally admit to receiving it will take another 3 days just to process. Too bad our employer uses this Company but noticing the 1 star reviews makes sense. Only their employees post 5 star reviews. LOL.3 weeks, still waiting.
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February 2023 by Amanda Baker
Worst customer service and policies. They transfered a balance into an IRA account without prior knowledge, I have not been able to access the account for over 18 months. Every time I have called I have been placed on hold for hours and when the call back selection was made never have received any of the calls back or response to emails.