BARBARA ANN HINEBAUGH

BARBARA ANN HINEBAUGH is currently employed as a Broker and/or Investment Adviser at NYLIFE SECURITIES LLC located at 3201 WESTMONT PLACE, THE VILLAGES, FL, 32162.

BARBARA ANN HINEBAUGH has worked at NYLIFE SECURITIES LLC since October 16, 1982

Disclosure History

BARBARA ANN HINEBAUGH has 3 Disclosure Event(s).

Date: May 07, 2008
Category: Customer Dispute
Allegations: WITH REGARD TO A VARIABLE UNIVERSAL LIFE PURCHASED IN SEPTEMBER 2007, CUSTOMER ALLEGES THAT THE RR EXPLAINED TO HIM THAT THERE WERE CORRECTIONS TO BE MADE IN THE POLICY. CUSTOMER MAINTAINS THAT RR RECOMMENDED A REDUCTION IN FACE AMOUNT FROM $250,000 TO $200,000 SO THAT HE CAN STAY IN HIS BUDGET OF $200.00 PER MONTH. CUSTOMER FURTHER MAINTAINS THAT HE IS COUNTING ON THE CONTRACT TO SUPPLEMENT HIS RETIREMENT AND THAT HE NEEDS THE HIGHEST CASH VALUE POSSIBLE.
Broker Comment: THIS SETTLEMENT DOES NOT INVOLVED ANY MONETARY COMPENSATION. THE COMPANY OFFERED AND THE CUSTOMER ACCCEPTED FOR THE POLICY TO BE RE-ISSUED SO THAT IT WILL BE CONSIDERED UNDER THE GUIDELINE PREMIUIM TEST FOR THE PURPOSES OF QUALIFYING AS LIFE INSURANCE UNDER IRC SECTION 7702.

Date: April 24, 2007
Category: Customer Dispute
Allegations: WITH REGARD TO THREE VARIABLE UNIVERSAL LIFE POLICIES PURCHASED IN MAY, JUNE AND AUGUST OF 2001, CUSTOMER ALLEGES THAT HE WAS UNDER THE IMPRESSION THAT THE POLICIES WERE ANNUITIES AND NOT LIFE INSURANCE POLICIES. CUSTOMER MAINTAINS THAT THE MORTALITY COSTS ARE EATING UP THE VALUES AND THAT THE POLICIES WERE INAPPROPRIATE FOR HIS NEEDS. CUSTOMER IS REQUESTING THAT THE THREE POLICIES BE EXCHANGED FOR A GUARANTEED (NOT VARIABLE) LIFE ONLY ANNUITY.
Broker Comment: BASED ON OUR GOOD FAITH ESTIMATE, THE COMPENSATORY DAMAGE AMOUNT IS $5000.00 OR MORE

Date: June 26, 2001
Category: Customer Dispute
Allegations: WITH REGARD TO A VARIABLE ANNUITY PURCHASED IN FEBRUARY 2000, THE CUSTOMER ALLEGES THAT SHE WAS TOLD SHE "COULD NEVER LOSE MONEY ON THIS INVESTMENT". THE CUSTOMER STATES THAT HER ANNUITY VALUE IS NOW BELOW THE ORIGINAL INVESTMENT AMOUNT. SHE IS REQUESTING THAT THE CONTRACT "BE AS IT WAS REPRESENTED AT THE TIME OF PURCHASE".
Damage Amount Requested: $8,419.94
Broker Comment: UPON REVIEW OF POLICY RECORDS AND DATA, NEW YORK LIFE DID NOT FIND SUFFICIENT EVIDENCE TO SUPPORT THE CUSTOMER'S CLAIMS. NO OFFER OF COMPENSATION HAS BEEN MADE TO THE CUSTOMER.

More Information

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