Hi all. Hoping someone out here in insurance land can point me in a direction. I have a client who brought in a Primerica policy that is a life insurance policy that has a flexible premium retirement annuity rider on it. There is almost no information on this annuity rider in the policy schedule. The policy was written back in 1983 with A.L. Williams, but Primerica took it over. This is the first time in my life I've ever seen an annuity added to a life policy - had no idea it could be done.
Called in with the client to Primerica client services and the rep had no idea as it was such an old policy, they were instructed to send callers back to the agent (and yes, I did try to speak with a supervisor, but he was adamant that the only other choice was to call the agent). We called the agent's office and.....crickets. Meanwhile the client has something she has no idea how to utilize. They are making it impossible to get information. I'm just trying to find out if this is considered a non-qualified annuity and if it is movable separate from the life policy. It seems to me it could be, but I know better than to make assumptions.
Can anyone help here? Thanks in advance!
Called in with the client to Primerica client services and the rep had no idea as it was such an old policy, they were instructed to send callers back to the agent (and yes, I did try to speak with a supervisor, but he was adamant that the only other choice was to call the agent). We called the agent's office and.....crickets. Meanwhile the client has something she has no idea how to utilize. They are making it impossible to get information. I'm just trying to find out if this is considered a non-qualified annuity and if it is movable separate from the life policy. It seems to me it could be, but I know better than to make assumptions.
Can anyone help here? Thanks in advance!