My husband bought an annuity in 1994 (flexible premium tax deferred annuity). He can’t find the policy and when I contacted the company they want us to send them $25.00 to mail out a duplicate copy. Is this fee common?
Terry Says: Well, it’s not outrageous, but I think it’s unnecessary. And you might need some advice about what to do with it now. I think you can avoid that fee by using an agent who specializes in helping people who have “orphaned” policies — those without an agent. Contact Jeffrey Oster at Raymond James who is my annuity expert. His toll free number is 888-55-1035.