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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 117358
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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I just closed out one of two annuities I had and just

Customer Question

I just closed out one of two annuities I had and just checked the bank ans
***** ***** site and found ***** ***** and Lincoln insurance had
Closed out I/e surrender both of my annuities one without my verbal or
Written permission plus they charged me about 12,000 penalty ON the annuity
THEY closed out without my permission either verbally or written, that one penalty
Should be returned ASAP as they closed it on their own without permission by me
***** *****
Submitted: 1 year ago.
Category: Legal
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
You need to start by sending notice to the company that the annuity was closed without your consent or authorization and it seems to be a mistake on their part. Inform them that you want the annuity reinstated and penalties removed or you will be forced to pursue legal action for them negligently closing out the annuity and breaching their contract with you. If they refuse to fix their error, then you will have to file suit against them for breach of contract and pursue the matter in court for all of your losses suffered as a result of their breach.