Trans World Assurance Co - San Mateo, California

Maurice P.

I’m almost positive that this is a scam, especially when comparing the similarities of others who are in my situation. Do not fall for the scammers who are giving this company a high rating.

When I was young and on active duty, I was reeled in with getting their life insurance policy. 6 years later, as I’m trying to withdraw this policy, they have played nothing but games, which I will further detail below:

I faxed over the necessary paperwork for policy withdrawal, and 4 days later I checked in on the progress only to be told it was never received, so I did it again. At that point they told me it was received and I should check back in within a week or so, and when I did they told me it was somehow never received.

Upon being given an email to send my paperwork to while on the phone with customer service, the representative told me it should be accepted by the end of the next business day. 3 days later I called back to see if it was processed, and once again, “Never received”. I go to my mailbox and it shows that the email address does not exist.

Remaining patient, I was given a second email to send it to, and literally the same exact thing as the paragraph above happened.. “address does not exist”.

I am currently on the phone with another representative who’s given me a 3rd email address. Mind you, they told me they received my paperwork the first time I physically faxed it to them, and now I’m almost certain I’m being given a 3rd fake email address that does not really exist.

If anyone is considering this company, please understand that being naive is almost guaranteed to land you in the same scenario as the rest of those who give REAL reviews on the company rather than the employees who obviously benefit from the scam then come on here to give the company 5 stars

Karl W.

Regardless of how the economy improves all the company will give is 4% per year. I've had this policy over 15 years and its not making any money. I'm retired military so what the point of having the burial insurance that been only 10K and never increases. Find another investment.

Why are they responding to a review I wrote 6 years ago? I still feel the same about this company. To anyone reading. Find a better option.

Rich B.

We have been using TWA for just over a year now. One of the best investments I’ve made. I feel safe and that my investment is protected and that if something were to happen to me, my family is protected. I would recommend TWA to anyone who is looking for an affordable policy with an amazing upside!

Ry_Phil 2.

Family One Source did a great job helping me with my taxes this year. I also have a retirement plan through them as well. They have been great to me and I would recommend them 10/10 times.

Aimee P.

I used to work for TWA for years. I purchased a policy and have been happy with it. I have been able to withdraw money from my accumulation fund with no problem. The 4% guarantee is better than what my bank pays. I have read some other reviews, but I can tell you as a former agent and military veteran that this product is no scam. You may have had an awful agent. I actually went through a divorce and switched banks. I forgot I had the policy and it was in an extended term period. The company let me catch up three years worth of premiums and keep the policy. I still actively sell insurance for other companies and if this would happen you’d have to reapply for coverage.

Anthony T.

Felt scammed as they solicited military posts and preyed on young soldiers. I have invested $150 a month for 2 years and realized I am throwing away money. I tried canceling but the process takes time as everything is through the mail... In 2023 when anything can be done online.

JG S.

Stay far away from this company. I faxed over my handwritten letter to cancel my policy as instructed and was told I would receive my check in 10 business days, those 10 days pass and I still had not received my check. I’m a patient person I give them the benefit of the doubt and give it 3 more days, still no check, so I give them a call and was told it was not processed because I did not sign the letter. Why was I not told ahead of time to do this and why not give me the courtesy of contacting me when the letter was originally received? I don’t understand why that would be a requirement anyway considering my policy number and verifying my social when I call should be enough to identify me, but I comply nonetheless and fax over another letter with my signature. Another 10 business days passes still no check, so I give them another call and this time I’m told the check was not processed because I did not date the letter I mean come on now seriously? That’s just flat out ridiculous and terrible customer service. This company has serious communication issues and several shady practices. I don’t want anybody to experience the headaches I did dealing with this company and would highly advise anyone reading this review to stay far far away as I and others have stated.

Brian C.

If you're happy opening a policy and never having to talk to anyone about it, they're fine. If the website decides to work they're usually pretty good at getting withdrawal requests out in about a week.

That's where the positives have ended. You can't view your policy online. If you call to ask for a copy to be sent all they'll send is a summary. To get a full copy you have to request it in writing.

With the limited access, pretty much zero contact, and little to no real customer service I've decided to cancel mine after more than 10 years. At least the rep gave me the information I had to send in the request (again, in writing). I'm surprised they don't require things to be notarized for everything at this point.

They recently reworked their website. I re-registered as required and it worked for a brief period. Then I couldn't log in. I called to get it sorted, they supposedly reset it but even after the 24-hour wait period I still can't log in. I called them again about it and I just got a gruff runaround that essentially I have to register it and log in so it must be my issue. I've yet to have a customer service rep that didn't sound like someone's dog just went on their pant leg. Sometimes it sounds like it's being run out of someone's home office (which it might be if remote working the calls).

When I signed up they said the lowest rate would be 4%, highest at the time was 11%, average was 7%. From what I've seen I'd be surprised if it went much over the low end of 4%.

The company may have been originally founded to help keep service members covered but from my experience now it just exists to do the bare minimum to be able take premiums without being investigated. Their processes are stuck in the 90s at best, even with the update.