My Latest Pet Peeve

Here I go again – busting on insurance companies. Basically, insurance companies have zero respect for your right to determine the disposition of your investment funds. Just try to move assets away from them and see what happens. First, they don’t participate in the standard clearing house that the rest of the investment world uses to move money between companies. They use “their” forms and only their forms which you can only get by contacting the agent (sales guy) or the corporate office. The form (6 pages, unclear, and maybe the wrong form) will arrive via snail mail and be accompanied by a 1 page, very simple form you can sign to stop the transfer process dead in its tracks. Very helpful. Second, after you struggle with deciphering the form, fill it out and mail it back in, it is likely to be returned to you because you “x’ed” a …
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Posted in featured, September 2014 - Barry | Comments Off