Complaint Review: Northwestern Mutual - Nationwide
- Northwestern Mutual Nationwide USA
- Phone: 866-229-2950
- Web: northwesternmutual.com
- Category: Financial Services
Northwestern Mutual Annuity Rip-off Milwaukee Nationwide
*UPDATE Employee: That's not true
The Northwesern Mutual Differed Income Annuityy that was sold to me did not provide the ability to surrender the contract. Two years into the contract the interest Northwestern Mutual is paying is much less than what the salesperson had indicated that would be paid. I want to cancel the contract but I am being told by Northwestern Mutual that there is no means to surrender the contract and get my money refunded. It is my understanding that reputible companies include surrender terms in their annuity contracts.
This report was posted on Ripoff Report on 01/21/2015 04:19 PM and is a permanent record located here: https://www.ripoffreport.com/reports/northwestern-mutual/nationwide/northwestern-mutual-annuity-rip-off-milwaukee-nationwide-1203290. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 UPDATE Employee
That's not true
AUTHOR: PrincessJae - (USA)
SUBMITTED: Thursday, June 11, 2015
A deferred income annuity CAN be surrendered - but there will be a surrender charge. There is a surrender charge during the first 7.5 years. WOuld you like me to send you a prospectus of the variable annuity?
Also the agent should not have guaranteed a rate of return for you. A VA is based on investments, which can go up or down.
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