My mother passed away in 2006. I was the beneficiary of her annuities. Genworth and Allstate both are saying that I can not have the Original documents or any other important information about these annuities. Is this common or are they pulling one over on me? Would a lawyer work? Please let me know if you have any information. All they will tell me (which I already know) is how much I get a month, the date I receive payment, and the dates I will stop receiving payments. They wont tell me if I am getting interest, if its fixed, or variable annuity. Also this is from a lawsuit. A doctor was sued and she recieved money for it.
my mother was the owner
They own the original documents – that would be, the original paperwork she first took out.
If you are the new owner of the annuities, they SHOULD be providing you with a statement and account number.
If you're getting a set amount every month, for a certain period of time, it's a fixed annuity. Annuities, the interest is included in the payout amount.
So I'm not sure what information you want that you aren't getting – because you already KNOW the specific answers. You don't get to find out what it's invested in – you only get the dollar payout once a month.
June 1st, 2009 at 2:16 am
Genworth was formerly General Electric Insurance. They are independent now I believe. All State has a Sears connection. The key question is "Who is the owner of the contract?" If your mother was and you are her heir (not necessarily the same as beneficiary) then you may be able to get the information. It may be that the Doctor's insurer is the owner of the contract and was required to take it out as part of a legal settlement. If the Doctor or his insurer is the owner, then you are out of luck.
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June 1st, 2009 at 2:45 am
It is fixed and it includes the interest. That is the definition of a fixed annuity if you know how much, when, etc…
References :
June 1st, 2009 at 3:16 am
They own the original documents – that would be, the original paperwork she first took out.
If you are the new owner of the annuities, they SHOULD be providing you with a statement and account number.
If you're getting a set amount every month, for a certain period of time, it's a fixed annuity. Annuities, the interest is included in the payout amount.
So I'm not sure what information you want that you aren't getting – because you already KNOW the specific answers. You don't get to find out what it's invested in – you only get the dollar payout once a month.
References :