Here are some of the common signs that you have been mis-sold an annuity
You were not offered annuity options
Some Advisors were very keen to get the sale over and done with quickly without going through all the options and using high-pressure tactics. Commission sometimes came into the recommendation by choosing the option that paid the Advisor the highest fee.
Were you given more than one option in the choice of annuity?
You incorrectly received a standard annuity rate
Each annuity recommendation should match your circumstances at the time of sale, however, sometimes a standard annuity rate is not suitable. If you were in good health and a standard life expectancy was expected, then a standard annuity rate may be suitable.
However, if your life expectancy was reduced due to poor health or you have had a life-limited condition you should have been offered an enhanced annuity rate.
Did any of the below apply to you?
High blood pressure
Worked in a hazardous environment, such as with asbestos
Your Annuity finishes when you pass away
If you were married at the time, then you should have been offered the option to take out Joint Life Annuity instead of just your Single Life Annuity.
Were all the charges fully explained to you? Sometimes “skimming over the details” occurs in annuity sales, which can leave you substantially worse off.
How can I make a claim?
To establish if you have a claim for the mis-selling of your annuity, here at Return My Money we offer a free assessment service.
If you bought an annuity that you think could have been mis-sold, then contact us today on 0800 061 4585 to see if you are eligible to put a claim in.