I was in the military and stationed in Pensacola, Florida when I talked with a company about getting an annuity and mutual funds. The man that helped had been talking with many people on the base.
He talked me into paying 100 dollars a month to American Amicable. Half would go to the mutual funds and half would go to the annuity. He also explained how the annuity would work and that all the money I put into it would start building up and earning interest within 5 years.
I got out of the army about a year later and so I would not be paying any more into the annuity of the mutual funds so I decided to get the money back because I needed it. The mutual funds were no problem because I just got a refund online. However when I tried to locate the annuity I could not find it and I could not get a hold of Clarence Edwards, the man who talked me into the policy.
I decided I would leave the money in the annuity a little longer so maybe it would build a little more because I didn't want to track it down at the time. I knew I would need it later. So now it has been about 2 years later and I tried to track the money down again.
I tried calling Clarence through his mobile number and his business number and could not get a hold of him so I left a voicemail to email me. Then I started looking up company information and finally got in touch with their policies department. The lady on the phone told me that all the money I had been paying was for my life insurance premiums and I would not be able to get any of it back.
The military has a very good life insurance policy and I would have had no need for it so I know that I wouldn't have bought any type of insurance from anyone outside of the military. I feel I was tricked into the whole situation because I was given quite a bit of paperwork and I never saw anything about life insurance, although I am sure I didn't read it all.
I would like to find a way to get at leat the 600 dollars I had paid into the "annuity back" but I feel that at this point my hands are tied. I am sure I am not the first person this has happened to, nor will I be the last. The military bases are primary targets for these types of individuals and companies because many kids are fresh out of home and high school and don't know what to look out for.
Eddie Torgerson
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