Review Time
It’s taken me awhile to write this review but my experience has gotten to be so stressful and unbearable, I’ve gotten to a point of actually wanting to not be here because of Principal’s roadblocking to prevent me from being able to access my long term disability benefits that I’m entitled to and eligible for. The transition from STD to LTD (including final STD payment) has been the most stressful, anxiety provoking experience I’ve ever navigated. I have expertise in this space and I can’t imagine how people navigate it without some knowledge and support. Deadlines change arbitrarily and without ample notice causing distress (ie: finding out the week benefits are due to be paid that more information is needed which now allows them to disregard the earlier deadline and extend it), all information was provided ahead of time but they still request more (even information that doesn’t apply to the date of treatment which again creates unnecessary delays), I’ve had emails go ignored and have had to follow up multiple times to get a response. I’ve had the analyst intimidate and basically verbally reprimand me via phone to not send emails by being forced to answer calls on the spot when I’ve said my diagnosis does not support this. It does absolutely seem that they are only trying to delay payment (it’s now been 3 weeks and counting since ANY payment and prior to that the payment was also delayed at least 3+ weeks), and looking for any little thing they can find to deny you, all while your financial stress grows and they require you to continue treatment (ie: basically putting you into debt by requiring you to incur healthcare costs without stable income), yet you’re also not supposed to work as that jeopardizes the claim, so you’re in a constant limbo where they can request anything even when it doesn’t apply, change deadlines and tell you at the last minute, give themselves extensions whenever it serves them with no regard for the real life impact of what that means for you in terms of your ability to address even basic needs.
It’s taken me awhile to write this review but my experience has gotten to be so stressful and unbearable, I’ve gotten to a point of actually wanting to not be here because of Principal’s roadblocking to prevent me from being able to access my long term disability benefits that I’m entitled to and eligible for. The transition from STD to LTD (including final STD payment) has been the most stressful, anxiety provoking experience I’ve ever navigated. I have expertise in this space and I can’t imagine how people navigate it without some knowledge and support. Deadlines change arbitrarily and without ample notice causing distress (ie: finding out the week benefits are due to be paid that more information is needed which now allows them to disregard the earlier deadline and extend it), all information was provided ahead of time but they still request more (even information that doesn’t apply to the date of treatment which again creates unnecessary delays), I’ve had emails go ignored and have had to follow up multiple times to get a response. I’ve had the analyst intimidate and basically verbally reprimand me via phone to not send emails by being forced to answer calls on the spot when I’ve said my diagnosis does not support this. It does absolutely seem that they are only trying to delay payment (it’s now been 3 weeks and counting since ANY payment and prior to that the payment was also delayed at least 3+ weeks), and looking for any little thing they can find to deny you, all while your financial stress grows and they require you to continue treatment (ie: basically putting you into debt by requiring you to incur healthcare costs without stable income), yet you’re also not supposed to work as that jeopardizes the claim, so you’re in a constant limbo where they can request anything even when it doesn’t apply, change deadlines and tell you at the last minute, give themselves extensions whenever it serves them with no regard for the real life impact of what that means for you in terms of your ability to address even basic needs.
My father passed away this past year. Withdrawing the funds into an estate have been a nightmare. You go through the normal pile of paperwork, but they attempt to roadblock you along the way at multiple points. They need certain legal documents from previous employers, security pass keys (that my father would have never known), start of employment, end of employment, contract numbers for his 401k. All at different stages to differ you from going further to avoid paying out his 401k. This company will make it as hard as possible for you to just give up, move along and keep money that isn't theirs. Sadly, allot of other financial groups operate in the same manner.
This is a garbage bank. They charged my a $15 fee for my account, which I didn't ask to be put in. When I went to close my account, they charged my an additional $30 for closing the account. This bank must be poorly run and broke to steal money for individuals.
All I needed was help rolling my retirement account with my previous employer to my roth IRA. Do not call 800-986-3343. The lady on the phone was curt, interrupted me two-three different times, and became aggressive with me when I told her I did not know my beneficiary because I was with the company for a very short period of time and knew I would be leaving that company in 5-6 months. I had to hang up on her before I said things I would have regretted. 855-739-2859 was the second number that I called. They were very kind and patient and able to assist me. I never leave reviews and have never hung up on a customer service representative till dealing with this company's customer service.
This is the absolute worst company to do business with. Do not use them for any of your financial needs. Their fees are exorbitant, their returns poor, and their customer service truly the worst that I've ever experienced. 9 years as a customer, with multiple remarkably horrendous experiences, seriously, avoid this company at all costs!
I moved to a different company and decided to just cash out my 401K (it was less than $300). I decided to go with a direct deposit. Unfortunately, I was in a rush and I switched the last two numbers of my bank account. Honest mistake. I reached out to Principal to let them know what happened to get it fixed. At first they refused to help me. It was been seven business since my request. They have a 5 business day policy where after the 5th business day, they can’t reverse the deposit. I had the call EIGHT times to get a representative that would help me and I’m still not guaranteed to get my money. What they don’t know is that I was planning to open a Roth IRA with my nest egg that I have built and I’m researching companies. Principal will not have my business after this.
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