Anonymous asked in Politics & GovernmentLaw & Ethics · 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.

2 Answers

  • Jim
    Lv 5
    1 decade ago
    Favorite Answer

    If you read the prospectus that they gave you, in really, really tiny print somewhere, you'll find that rates are not guaranteed and subject to change without notice depending on current returns, or some legalese to that effect. If they paid there other investors/policy holders with the same contract more than they paid you, then you might have a legit complaint, but I doubt that's the case here.

  • 6 years ago

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