Generali Worldwide
Generali Worldwide Overview
The aggregated data is based on reviews and questionnaires provided by PissedConsumer.com users.
Generali Worldwide has 1.3 star rating based on 30 customer reviews. Consumers are mostly dissatisfied.
- Rating Distribution
Pros: Advisor was honest that i would lose my money, Customer service, Opportunity to select investee companies.
Cons: Salesmen, Being scammed, Poor service.Recent recommendations regarding this business are as follows: "Do not buy. Fees on phantom values inconsitent with T&C of policy", "DO NOT TRUST FINANCIAL ADVISORS- BE DILIGENT".
The aggregated data is based on reviews and questionnaires provided by PissedConsumer.com users.
Generali Worldwide has 1.3 star rating based on 30 customer reviews. Consumers are mostly dissatisfied.
- Rating Distribution
Pros: Advisor was honest that i would lose my money, Customer service, Opportunity to select investee companies.
Cons: Salesmen, Being scammed, Poor service.Recent recommendations regarding this business are as follows: "Do not buy. Fees on phantom values inconsitent with T&C of policy", "DO NOT TRUST FINANCIAL ADVISORS- BE DILIGENT".
Most users ask Generali Worldwide for the refund as a solution to their issues.
Consumers are not pleased with Discounts and Special Offers and Reliability. The price level of this organization is high according to consumer reviews.
Media from reviews
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified Reviewer | Moscow, Central Federal DistrictNon-disclosed fee reserves and calculations made policy worthless resulting in losses of USD 250,000 in fees on USD 300,000 contribution
- Opportunity to select investee companies
- Hidden
- Non-transparent fees
Preferred solution: Price reduction
User's recommendation: Do not buy. Fees on phantom values inconsitent with T&C of policy
Terrible value for my money
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerScammed- Lost all my initial deposit
I signed up for a vision plan after speaking to an independent financial advisor from United Advisors Marine. I decided to put in a high monthly premium of 2400euros/month for the initial 13 months (for a 10 year plan) as I was making extra bonuses that year and I genuinely thought that those funds would be going away to invest with a growth over a 10year period.
I had no plans to surrender early and thought it was flexible to do what I please after the initial period of 13 months. Knowing that I would not have access to this extra cash forever it was a good opportunity to put some savings away. However after the initial period was up I decided to lower my premiums, and at no time was I told that those initial funds of 28000 euros went entirely to fees, and that any growth on investment would be on what is deposited after the initial period. I found out later that lowering my premium would be detrimental to my plan.
The Advisor then sent me ridiculous valuations of my account that make it look like I have a large investment opportunity with the potential for growth over the ten years, when really my entire 28000 was gone down the drain to commissions and administration fees.
SO DECEIVING, especially at 23 years old when I thought I was being responsible, making money for the first time and putting it away.
I lost my entire upfront payment, and eventually decided to fully surrender my plan after 5 years as continuing to put in a measly minimum monthly premium of 200 euros made no sense to me, and I would be continuing to put money into a plan that so badly deceived me. As I've now grown up and matured, I learned I could make more money investing on my own, and to never trust these advisors again. It was naive and stupid on my part to not get an understanding of the terms however the advisor holds a huge responsibility for signing these plans so recklessly and for failing to do exactly what his job title is intended to do.
They sold this product as if it was a flexible product where you can change your premiums as you please, throughout the plans lifespan. Although this is the case you are massively penalised and any bonuses they talk about that would actually make your plan grow no longer stand.
If anyone is trying to sell you this plan- especially someone who calls themselves an advisor, they should tell you that all your initial premiums go entirely to fees!
You are better to start at the minimum and then increase your premiums. Only then will your account not suffer any major losses. Never again will I trust advice from an advisor. I am now fully in the process of surrendering my plan- a whole 650euros.
5 years later, 30000 down the drain.
My entire life plan savings are gone. If someone knows how I could seek some retribution for this, please, I would love to be in contact.
I did write to the financial ombudsman and the lady was so understanding and not surprisingly they receive an alarmingly amount of complaints about this plan. How they manage to still get away with it, I dont know.
Generali, United Advisors Marine thank you very much for the wonderful saving advice, I hope you're happy with yourselves.
- Deceitful
Preferred solution: Full refund
User's recommendation: DO NOT TRUST FINANCIAL ADVISORS- BE DILIGENT
Vision
Preferred solution: Deliver product or service ordered
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerInsurance does not pay claims
Preferred solution: Deliver product or service ordered
Generali: NO
- No information clear
Preferred solution: Full refund
Scammed Generali Vision
Be sure to read all the fine non transparent print!!
Preferred solution: Let the company propose a solution
Scam company
Preferred solution: Full refund
Easy way to lose your money
- Unwillingness to release me from this horrible contract
- Massive unfair fee structure and exit costs
Preferred solution: I would like Mr Sapsed to die of anal cancer!
BAIT AND SWITCH ARTISTS
Generali stole my pension money
Generali Vision surrender value 10% of investment
I was sold a Generali Vision product whilst working in Russia. The DeVere advisor told me that after two years it would be "fully paid up" and I could then cancel my contributions and withdraw my funds at any time.
Unlike today, Generali did not at the time provide clear illustrations of the effect of early terminating the plan. I elected to do so after two years, by which time I had contributed a bit over £38,000. I then left the money in the plan. When I asked to cash it in this year, its value had fallen to £24,000 but worse to come.
The "surrender value" was jut £3100!
The remain £20K went to fees etc.
In the US I could take a capital loss on my taxes but as I'm a British taxpayer, I've effectively lost over £30K. And this isn't due to bad investments but admin charges.
- Slick sales talk
- Misselling
- Dismissive attitude
- Misleading information
Preferred solution: Let the company propose a solution
Disaster!
DO NOT SUSCRIBE
Taking Advantage of Clients
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Same here... Generali (now called Utmost Wealth Solution) will drain out 30 to 40% of your money through admin charges. Stay away !!!