Question by Pinky: How can principal life insurance break their promise of giving me 5% interest.?
My Annuity contract states that I get 5.03 interest rate and in addition there is a premium credit of 1%. They refuse to honour that contract and have given me only 3 percent interest rate for the first year. How can they do that, just ripe me off.
Best answer:
Answer by Heinz M
Check the small print in the contract. If that isn’t covered, sue them. ~
What do you think? Answer below!
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Read the small print. If the annuity performs UNDER expectations, you get UNDER the percentage rate.
That’s exactly why annuities are rotten “investments”.
Annuities make more money for agents and the companies they work for than they do for clients. Caveat emptor!