My husband initially requested a withdrawal in May from a company and they keep stalling on payment. All paperwork was correctly submitted - numerous times, but they always seem to need one thing or another again and again. And usually only after we call to check on progress. Is there an agency that we can report them to or request help in expediting the process?
Annuities are insurance contracts, and are regulated by your state insurance commissioner. So that’s your first stop for a complaint. But please write back and let me know the name of the insurance company, and the policy contract number. (I won’t post that information, but I will try to contact the insurance company directly — because failure to honor a contract would be a BIG story!) In fact, show them this response on my website and I’ll be you have your check by overnight delivery! Please do let me know what happens!