Anonymous asked in Business & FinanceInsurance · 1 decade ago

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.

4 Answers

  • Mark S
    Lv 6
    1 decade ago
    Favorite Answer

    Annuities make more money for agents and the companies they work for than they do for clients. Caveat emptor!

  • 1 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

    Finance solutions fast

  • Anonymous
    1 decade ago

    Check the small print in the contract. If that isn't covered, sue them. ~

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