This month was the anniversary of the annuity my husband purchased through Ty J Young 12 years ago. This year the surrender fee was at 0% and he could liquidate the annuity with no fees. His advisor decided to offer a replacement product that would lock him into another product with surrender charges for next 5 years and appeared quite excited because it had a return rate near 10% and wanted to get him to sign up for it right there an then without providing further info that would reflect negatively on the annuity. When a request was made to provide further information about the new annuity as well as other options such as different SPIAs showing the benefits of each over the other the response was to provide a brochure on the new annuity and an "illustration" of only one type of SPIA, Single Life Only. My husband and I were forced to do our own research to obtain a full picture of all options. His advisor was not advising him but was set on signing him up for a product without regard to what we felt our future needs required. In other words he was an aggressive salesman not an advisor.
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