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.
- Mark SLv 61 decade agoFavorite Answer
Annuities make more money for agents and the companies they work for than they do for clients. Caveat emptor!
- AnonymousLv 71 decade ago
Read the small print. If the annuity performs UNDER expectations, you get UNDER the percentage rate.
That's exactly why annuities are rotten "investments".Source(s): agent, 21+ years
- 6 years ago
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- Anonymous1 decade ago
Check the small print in the contract. If that isn't covered, sue them. ~